CONDOMINIUM REPORT by OTTO Immobilien
It is fresh off the press - the third edition of our Condominium Report for the first district. With the latest data and facts about the condominium market in the first district, which we - by the way as the only real estate consultant in Vienna - collect and make available to our customers.
So we offer detailed information on the current - in comparison to the previous year stable - prices of condominiums in the brand new, give you an overview of the stock, the transactions of the last 10 years or the ownership structure. Would you have thought that 88 percent of the buyers of condominiums are Austrian citizens?
We have also analyzed the development within the four districts of the first district in detail. Our Condominium Report provides an overview of the current stock in the Stubenviertel, the Kärntnerviertel, the Schottenviertel and the Burgviertel. In total, exactly 29 new condominiums were built in the previous year - but only in the Stubenviertel and in the Burgviertel. After the boom year of 2017 with many exceptional new construction projects, 2018 is likely to be slightly less profitable in our view. Whereby we notice a different trend: the top floor is getting more and more in demand and is developing into the new "Beletage". Read also an interesting guest contribution by Mag. Walter Senk.
The city center of Vienna is a place with history, art and culture. But not only: for more than 100,000 people, it is an exceptional workplace and place of residence. It is a breathtaking beauty and part of the UNESCO World Heritage. Above all, the City is the most expensive pavement and the most exclusive district of Vienna. When evaluating a property in this top area, therefore, it takes more than just the knowledge of the living space. For a detailed determination of the price per square meter, our research department determines the concrete location of the building, details of the type and condition of the property, the year of construction, the floor and all current market conditions. All this information is stored in our database and available to you and your project. Our experts will provide you with more details - in our office in the middle of the first district.
Do you have specific questions for us to evaluate, sell or buy an apartment in the Inner City? As proven experts for the residential property in the first district, we are always at your disposal for a conversation.
Dr. Eugen Otto MRICS