Major Changes in Viennese Property Market

Professional ServicesReal Estate ♦ Published: December 20, 2013; 07:38 ♦ (Vindobona)

After 2008, frame conditions in the Viennese residential property market have changed fundamentally. Four major trends were observable.

Major Changes in Viennese Property Market / Picture: ©

In the last years, the Viennese property market sent four signals. First, the price level continues to increase steadily. Since 2008, the price level of residential property was up by 30%. Second, the heterogeneity of Viennese properties is diminishing gradually. According to Andreas Wollein, head of the Austrian Real Estate Industry Association (ÖVI), there are no bad districts…