One fact has been proved again in the course of the research for this year’s edition: the First District is still the most expensive location in Vienna: As of July 31th, 2020 already 60 flats were sold in this year – which corresponds to an increase by 17 % as compared with the same period of the previous year. Even by the transaction volume the year 2020 already shows a strong growth with a registered transaction volume of EUR 85 million (+10 % in the same period). However, the average price of 14,568 EUR/sqm has decreased slightly as compared with the previous year.
Certainly, Covid-19 had an influence on the market in two respects: On the one hand, due to the introduction of travel restrictions the demand now concentrates on Austrian or international residents in Vienna. On the other hand, the subject of open spaces now plays a stronger role in search criteria than in previous years, as the own terrace or roof patio has gained in importance during the lockdown. The experience of holiday feelings on an attractive terrace, possible equipped with a pool, in the own flat without the need of travelling has become a decisive buying motive, even in the First District.
Order the latest edition of our Condominium Eeport via our online form:
Order now