Vienna rental apartments prices have increased by 11 percent in the first quarter of 2024 compared to the same period last year, according to real estate platform Immoscout24. The median average price is currently 18.7 euros per square meter, with demand rising by 26 percent within a year. The growth and price increases in the rental market mean that landlords have a good chance of finding tenants due to high demand for rental properties.
ImmoScout24 has noted significant differences in price increases depending on the district, with some areas seeing minimal increases of up to 3 percent while others experienced hikes of around a quarter more expensive than the previous year. Districts like Hietzing, Favoriten, Josefstadt, Donaustadt, Margareten, and Penzing saw significant price increases compared to the previous year, with prices ranging from 19.3 to 20.5 euros per square meter.
The lowest price increases were recorded in districts like Brigittenau, Ottakring, and Simmering, with prices ranging from 15.8 to 18.7 euros per square meter.
Additionally, ImmoScout24 has also reported an increase in demand for rental properties by 26 percent compared to the previous year. Some districts like Mariahilf, Floridsdorf, Hernals and Alsergrund saw demand rise by more than 50 percent while areas like Brigittenau, Wieden Neubau and Hietzing were less in demand for rental apartments.
Overall, the rental market in Vienna is experiencing significant growth and price increases; this means that landlords have a good chance of finding tenants due to high demand for rental properties. However, prices vary greatly depending on the district; some areas see substantial price hikes while others remain relatively stable.
