Vienna’s rental apartment market has experienced a significant increase in prices, with the median average price reaching 18.7 euros per square meter, according to real estate platform Immoscout24. This is an 11 percent increase from the same time last year. However, the asking prices vary greatly depending on the district.
In Brigittenau, Ottakring, and Simmering, rental apartments have only increased by up to 3 percent. Meanwhile, Hietzing saw a price increase of around a quarter to 19.5 euros per square meter. The price in Favoriten increased to 19.8 euros per square meter. On the other hand, districts such as Josefstadt, Donaustadt, Margareten, and Penzing experienced price increases of around a fifth compared to the previous year.
The cheapest offers for rental apartments were found in Rudolfsheim at 14.5 euros per square meter, followed by Ottakring and Hernals. Interestingly enough, demand for rental properties increased by 26 percent compared to the previous year across all districts except for Brigittenau and Wieden where it decreased by over 50%. Mariahilf and Floridsdorf experienced a significant demand increase of over 50%, while Neubau and Hietzing were less in demand than before.