First Vienna Zinshaus Market Report

First Vienna Zinshaus Market Report: Fall 2023

E-paper available in english

In the first half of 2023 the typical Viennese Zinshaus building could no longer escape the general trend: a seller market turned into a market of buyers. This development is reflected in the number as well as in the volumes of sales, which both have decreased significantly. However, there is one positive aspect: The prices decreased substantially, but not to the same extent as in other asset classes. For 2024 we are optimistic again – we expect a stabilization of the interest rate level, which should lead to more dynamic market activities, and an increase in transactions.

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Since spring of 2023 the prices declined significantly, marginally less in the regions inside the Gürtel than in those outside the Gürtel. Thus, the minimum prices dropped by approximately 13 % in the 10th, 12th, 15th, 18th, 19th, and 20th Districts,  while in the 2nd, 4th, 9th, and 17th Districts the declines were 9 % on the average. The maximum prices declined as well – namely throughout Vienna by ten percent on the average. However, another positive way of looking at it: Even though the prices have declined, the downward trend was not as strong as in other asset classes. Even the most inexpensive objects are still not available for less than EUR 2,035 per sq m of useable floor space.

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Your research specialist at OTTO Immobilien:

Martin Denner , BSc

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