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Buying a property in Vienna: a complete guide

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property investment Vienna

Yes, the analysis of Vienna's property market is included in our pack

Considering buying real estate in Vienna? You're not alone!

Actually, many people fantasize about the enchanting beauty of Vienna and would love to own, an apartment in an historic building there.

Would it be a good investment, though? Are property prices increasing in Vienna? What is the price per sqm? Should you consider investing in the Innere Stadt or Neubau? Is there any hidden tax? Where can you get a yield above 7%?

We have all the answers you need.

The Investropa team has thoroughly explored this market. Actually, we've gathered all our findings in a pack. Get it now.

In this article, we'll provide you with helpful information.

How is the property market in Vienna?

Are property values increasing or decreasing? Let's check the latest data and statistics.

Property types

In Vienna, you can find various types of properties for sale to suit different preferences and needs.

These include apartments, which range from cozy studios to spacious penthouses, offering a variety of layouts and amenities.

You'll also come across charming townhouses and elegant villas, often with beautiful gardens or courtyards.

For those seeking a more modern lifestyle, there are contemporary lofts and stylish new developments.

Additionally, commercial properties like shops and offices are available for those interested in business opportunities.

Whether you're looking for a comfortable home, an investment, or a place to establish your business, Vienna offers a diverse range of properties to choose from.

Buying or renting?

(If you're buying for yourself and not to rent out)

Whether you've already made Vienna your home or are contemplating it for the future, you might be considering the buy vs. rent dilemma in this Austrian city.

Without a doubt, it's better to buy if you want to take advantage of the potential appreciation of the property and benefit from tax deductions.

To make a good decision, consider the property price-to-rent ratio. This metric tells us how many years of rental income it would take to pay for a property at its current price.

According to Numbeo, the property price-to-rent ratio in Vienna is around 40.14, which is very high.

It indicates that buying a property is more expensive in the short term compared to renting. However, buying can still be a viable option if you plan to live in Vienna for an extended period or if you think property values will increase.

Property prices in Vienna

On average, according to the last reported data from Austrian Federal Ministry of Agriculture, Regions and Tourism, buying a property in Vienna will cost you around $8,000 per square meter.

It's just an average. The value of a square meter for an apartment in Vienna city center might differ from a suburban house in Döbling. We actually offer a more in-depth analysis in our pack for buying property in Vienna and in Austria.

To give you some context, it is close to the prices you can find in a city like Frankfurt.

Also, housing prices in Vienna are way higher (66%) than in a city like Budapest.

The most expensive neighbourhoods in Vienna are probably the 1st, 9th, and 19th districts, while the cheapest are likely to be the 12th, 17th, and 21st districts.

Vienna Property Price per Square Meter


First and foremost, we have to acknowledge that Austria is, today, an exceptionally stable country. The last Fragile State Index that has been reported for this place is 25.4.

Don't overlook this while weighing the pros and cons of buying a property in Vienna.

Also, according to the IMF’s forecasts, Austria's economy is expected to soar by 6.1% in the coming 5 years, resulting in an average GDP growth rate of 1.2%.

If you want to invest in real estate in Vienna it's a good thing because it means richer citizens, more demand for the housing market, less default on mortgages, better services, etc.

Also, in Austria, the average GDP per capita has changed by 1.9% over the last 5 years. Though not substantial, there is still a positive trend of growth.

Looking for more updated data? We've done a big-picture study to find out if it's a good idea to purchase property in Austria right now.

Buying property in Vienna

Buying real estate in Vienna can be a challenging process due to the difficulty in obtaining reliable and up-to-date information. That's why we have created the pack to buy property in Vienna and in Austria.

Buying process

In the pack of documents we have built, we've covered everything about buying a property, from the contacts you'll need to the taxes that need to be paid, and even where to look for available properties.

Now, we're presenting a simpler version to make it easier for you to understand and follow along.

This is the step-by-step process to purchase a property in Vienna:

  1. Check Austrian regulations and eligibility for foreign buyers.
  2. Secure financing or funds for the purchase.
  3. Engage a licensed Vienna real estate agent.
  4. Receive the "Grundbuchauszug" (land registry extract) to verify ownership.
  5. Obtain the "Energieausweis" (energy performance certificate) from the seller.
  6. Sign a legally binding "Vorvertrag" (preliminary contract) with the seller.
  7. Pay a deposit, typically 10% of the property's value.
  8. Complete due diligence, including structural surveys and zoning checks.
  9. Finalize mortgage approval and sign the "Kaufvertrag" (purchase contract).
  10. Pay the remaining balance and transaction fees on the closing date.
  11. Transfer ownership at the "Grundbuchamt" (land registry office).
  12. Register for property taxes and utility services in Vienna.

Also, if you're not from the country, you might want to check our article on how to buy property as a foreigner in Austria.

Make a profitable investment in Vienna

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buying property in Vienna

Where to find a property

Discover properties in Vienna through these websites:

  • Sotheby's International Realty - Offering luxury real estate in Austria, including exquisite homes, apartments, and villas.
  • Real Estate - Providing a wide range of houses, apartments, and land for sale and rent in various regions of Austria.
  • RE/MAX - Assisting in buying and selling properties, offering a variety of options from alpine countryside to vibrant cities like Vienna.
  • Austria Partner - AUSTRIA-PARTNER Real Estate presents diverse Austrian properties, including villas, castles, apartments, and hotels.
  • Properstar - Providing apartments, houses, and commercial properties for sale and rent, with a comprehensive property search and detailed listings.

Also, know that we have included contacts of real estate agencies, property lawyers, moving companies, expats communities and more in our pack for buying property in Austria.

Which properties for which budget?

As mentioned before, the average price per sqm in Vienna is $8,000. A 1-bedroom property with 60 square meters would cost approximately $480,000, and a 2-bedroom with 85 square meters would cost around $680,000.

However, prices will differ based on the attributes of the property and its specific location.

Prime property locations in Vienna tend to come with higher price points. For about $1,940,000, you could consider a villa in Innere Stadt, but a residence in Döbling could be priced at $1,800,000.

Some spots will be friendlier to your wallet. You may find a condominium in Floridsdorf for $260,000, or you might locate one in Ottakring priced at $220,000.

Find a more detailed breakdown in our full pack for buying property in Austria.

Mistakes to avoid

Here are the main pitfalls specific to buying property in Vienna, Austria:

  • Austrian legal system: Navigating property laws in German can be challenging for non-German speakers.
  • "Vergebührung" tax: A one-time stamp duty tax, which varies based on the property's value, adds to the purchasing costs.
  • "Wohnungseigentumsgesetz": Co-ownership laws for apartments may lead to disputes with other owners over communal spaces and expenses.
  • Preservation orders: Historic preservation laws can restrict alterations and renovations on protected buildings.
  • "Makler" fees: Real estate agent fees, usually paid by the buyer, can be up to 3% of the property's value.
  • "Grundverkehrsbehörde" approval: Non-EU citizens must obtain approval from this authority to buy certain properties.
  • "Altbau" risks: Older buildings may have hidden structural issues, requiring costly repairs or renovations.
  • "Betriebskosten": Understanding and managing complex utility and maintenance costs for apartments can be overwhelming.

We don't want this to happen to you, so we have included a full checklist for your property investment in our pack of documents. Avoid these mistakes and save a lot of money.

real estate Austria

Everything you need to know is included in our Austria Property Pack

Living in Vienna

Living in Vienna is a great experience, offering a high quality of life, a vibrant culture, and a safe and secure environment.

Cost of living

The cost of living in Vienna is generally considered to be quite high, especially when compared to other cities in Europe. However, the city does offer a wide range of affordable housing options and public transportation which can help to offset some of the higher costs.

Here are some examples to better understand the cost of living in Vienna, Austria:

  • A glass of Wiener Gemischter Satz wine at a traditional Heuriger: $4-$6.
  • Rent for a one-bedroom apartment in the charming district of Leopoldstadt: $800-$1,500 per month.
  • Monthly Wiener Linien public transportation pass: $50-$80.
  • A bottle of Stiegl or Ottakringer beer at a local shop: $2-$3.
  • Utilities (electricity, heating, cooling) for an 85m² apartment in Vienna: $100-$150.
  • A slice of Sachertorte, a famous Viennese chocolate cake, at a café: $5-$7.
  • Entrance fee to the Schönbrunn Palace, a historical landmark: $10-$15.
  • Health insurance coverage for a family of four: $300-$500 per month.


Since we like to make information easy to understand, we've created a summary table outlining the various neighborhoods in Vienna. For yields, prices and rents, check our property pack.

Neighborhood Description Strengths Weaknesses

District 1: Innere Stadt

Innere Stadt is the historic city center, known for its stunning architecture, cultural landmarks, and vibrant atmosphere.

Rich history, numerous attractions, and excellent public transport connectivity.

High cost of living, crowded during peak tourist seasons.

District 2: Leopoldstadt

Leopoldstadt is an up-and-coming area with a mix of historic and modern buildings, offering a lively arts scene and diverse dining options.

Cultural diversity, green spaces like the Prater park, and affordable housing options.

Some areas can be noisy, and limited parking spaces.

District 3: Landstraße

Landstraße is a well-established neighborhood, home to various embassies, with a blend of residential areas and commercial spaces.

Good transportation links, beautiful Belvedere Palace, and a calm atmosphere.

Higher property prices, limited nightlife options.

District 4: Wieden

Wieden is a trendy and lively district, known for its bohemian vibe, art scene, and charming markets.

Artistic atmosphere, proximity to the city center, and a wide range of restaurants.

Noise in some areas, limited green spaces.

District 5: Margareten

Margareten is a diverse and residential neighborhood, offering a mix of modern and historic buildings, along with various dining and shopping options.

Cultural diversity, relatively affordable housing, and a friendly community.

Limited public transport access in some parts, fewer attractions compared to the city center.

District 6: Mariahilf

Mariahilf is a bustling district, famous for its shopping streets, lively nightlife, and popular cultural venues.

Great shopping opportunities, vibrant nightlife, and excellent public transport links.

Noisy at times, limited green spaces.

District 7: Neubau

Neubau is a hip and artsy neighborhood, known for its creative scene, independent boutiques, and galleries.

Trendy atmosphere, artistic community, and plenty of cultural events.

Higher property prices, limited parking options.

District 8: Josefstadt

Josefstadt is a charming and elegant district, filled with beautiful buildings, theaters, and cozy cafes.

Historic charm, cultural venues, and a calm ambiance.

Less vibrant nightlife, limited green spaces.

District 9: Alsergrund

Alsergrund is a residential area with a mix of historic and modern architecture, home to the University of Vienna and many medical facilities.

Proximity to the university and medical institutions, peaceful streets, and good public transport connections.

Lack of major tourist attractions, fewer entertainment options.

District 10: Favoriten

Favoriten is a diverse and multicultural district, offering a wide range of ethnic restaurants, green spaces, and recreational facilities.

Cultural diversity, affordable housing, and plenty of parks.

Some areas can be less safe, longer commute to the city center.

Life in Vienna

Vienna is a major economic hub in Central and Eastern Europe, boasting one of the highest GDPs per capita in the region. The city has a diverse economy, with a strong presence in the finance, banking, IT, and tourism sectors.

Based on the IMF's data, Vienna's GDP makes up nearly 23% of Austria's GDP. That's nice because a city with a strong GDP makes a good ground for property investment due to its economic vibrancy, indicating potential for job growth, increased demand for real estate, and overall stability in property values.

What expats usually like the most in Vienna is the city's blend of modern and traditional cultures, as well as its high quality of life. Additionally, they appreciate the city's abundance of green spaces, parks, and recreational activities.

Another great point to note is that Vienna is an incredibly safe city, with a crime index of only 27, which is a really good score. Vienna's culture of respect for the law and the security it provides citizens are key factors in its low crime rate.

A good point for a property investor - Vienna has an extensive and efficient public transportation system, including an extensive network of underground, tram, and bus lines.

Access to healthcare in Vienna is more than excellent, with a Healthcare Index of 79. You probably know that when there's a solid healthcare setup, it makes a location more appealing, which benefits real estate.

Finally, it is worth noting that Vienna has two top-tier universities: the University of Vienna (top 130) and the Medical University of Vienna (top 200).

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Renting out in Vienna

This section is for those who are looking to purchase a property not to live in themselves, but to rent it out and make an income from the rental.


Tenant Profiles in Vienna

According to the data reported by Wikipedia, the home ownership rate in Austria is 51%, which is not much.

It means that, if you decide to buy and rent out in Vienna, there will be a significant tenant pool. It's a good thing.

If you decide to buy and rent out to long-term tenants, you should target young professionals, expats, students, and families. Vienna is also home to a growing number of retirees, so those looking for a short-term rental or vacation rental should also consider this demographic.

Here is a little summary table we've made for you.

Property type and area Profiles of potential tenants What they are looking for Expected monthly rent in $

Apartment in Innere Stadt

Professionals, expats

Central location, historic charm

$1,500 - $3,000

Apartment in Leopoldstadt

Young professionals, families

Close to amenities, Prater Park

$1,200 - $2,500

Studio in Wieden

Students, young singles

Near universities, trendy area

$800 - $1,500

Apartment in Mariahilf

Artists, professionals

Cultural scene, shopping

$1,000 - $2,000

House in Döbling

Families, affluent tenants

Green areas, upscale living

$2,500 - $5,000

Apartment in Landstraße

Professionals, commuters

Transport links, city access

$1,000 - $2,000

Studio in Alsergrund

Students, artists

University proximity, bohemian vibe

$700 - $1,300

Rental yields

As of today, rental yields in Vienna are floating around 2 or 3%. It's low. Among other things, this low performance can be explained by Vienna's strong economic performance and its highly regulated housing market, which keeps prices relatively high and rental yields relatively low.

In Vienna, rental properties located in the city center with good public transport connections tend to provide the best rental yields as they are in high demand from tenants. Additionally, properties located in the outer districts with good infrastructure and access to green spaces also tend to have good rental yields as they offer more value for money.

For further explanation and a more detailed breakdown, you can check the reports and analyses we have made.

Finally, be aware that rental incomes in Vienna are taxed at 23%, which is not bad.


You could also decide to rent short-term to business travelers visiting Vienna for conferences or meetings, or to vacationers looking for a home away from home for their stay in the city.

If you decide to go with that option, look for properties in the Innere Stadt and Leopoldstadt districts, as they are among the most popular tourist areas in Vienna. Both areas feature plenty of public transportation, restaurants, and attractions, making them ideal for short-term tenants.

Currently, there are approximately 10,000 active Airbnb listings in Vienna, reflecting a highly dynamic and bustling short-term rental market. The average daily rate stands around $111.

You have the opportunity to generate a nice additional income stream then. According to online testimonials and analytics platform like AirDNA, Guesty and Inside Airbnb, people who offer short-term rentals in Vienna can make around $1900 per month. Also, the average occupancy rate is estimated at 78%.

Is it worth buying real estate in Vienna then?

Certainly, when it comes to buying property in Vienna, it's all about the context of your life and financial goals. If you're planning to stay in Vienna for the long haul, have a stable income, and can handle the high property prices, then buying can be a smart move.

Vienna's stability, safety, and quality of life make it a desirable place to invest in real estate. Plus, if you plan to rent out your property, targeting the right tenant profiles can provide a steady income stream. Just be ready to navigate some potential challenges, like the language barrier and various taxes and fees.

On the flip side, if you're just passing through or have a limited budget, buying may not be the best choice. Renting can be more cost-effective for shorter stays, considering the relatively high property prices and low rental yields.

Additionally, if you're an investor seeking high returns, Vienna's tightly regulated housing market and modest rental yields might disappoint you. Non-German speakers should proceed with caution due to the complexity of Austrian property laws.

In essence, it boils down to your individual situation and priorities. Vienna's property market has its perks, but it's not a one-size-fits-all solution, and careful consideration is essential before taking the plunge.

Make sure you understand the real estate market in Vienna

Don't rush into buying the wrong property in Austria. Sit, relax and read our guide to avoid costly mistakes and make the best investment possible.

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The content provided here is for informational purposes only and does not imply endorsement or advice. While we strive for accuracy, we do not guarantee the completeness or reliability of the information, including text, images, links, or other elements in this material. Following the content and analyses presented here does not assure specific outcomes. For guidance tailored to your individual circumstances, it is recommended to consult with a professional, such as a lawyer, accountant, or business advisor.