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Vienna International Real Estate Market and Property News
Read the latest headlines about developments in Vienna's and Austria's real estate industry and property market
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The Hike of Real Estate Prices Is Ending
The rise of prices for real estate is slowly coming to an end. The Austrian Real Estate Association (OVI) reported in front of journalists that the prices have hit the ceiling now. However, this is not a drop in prices but just a stabilization of them. The demand for real estate has gone back in the last months.
January 10, 2023
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Vienna Ranks Poorly Among Expats
The Expat City Ranking has ranked 50 cities worldwide in the year 2022. There have been some surprises; however, Vienna did not do well in the ranking, with some complaints repeating themselves even from the years before. The expats rank the cities on an annual basis through some basic categories. Vienna has one category where it performed the worst.
December 7, 2022
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Real Estate in Austria: Highest Annual Increase in Purchase Prices of Houses and Apartments Since Records Began
Prices on the Austrian residential real estate market show a year-on-year price increase of 12.3% for 2021. This is the highest annual increase since the index series began in 2010 and is significantly higher than in previous years.
March 29, 2022
Marina Tower: Completion of the Highest Residential Tower in Vienna
The highest residential tower in Vienna with 140 meters and 41 floors is successfully completed in these days.
February 10, 2022
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Demand for Luxury Real Estate in Austria Increased by 12 Percent Due to the Corona Situation
Luxury real estate demand increased by 12 percent in Austria in 2021, according to the Engel & Völkers Group. Read more about the luxury real estate trends in Austria and around the world.
January 17, 2022
New 153-Meter Luxury Tower V22 in Vienna to be Completed by 2025
Construction is currently underway on a new 153-meter luxury tower in Vienna's 22nd district. The project, known as VIENNA TWENTYTWO or V22, is expected to be fully complete by 2025. Learn more about one of Vienna's largest urban development projects and see what it is expected to look like upon completion.
December 7, 2021
Budapest Office Property "BudaPart Gate" Acquired by S-Immo
S Immo AG has acquired the "BudaPart Gate" office building in Hungary's capital, Budapest. Read more about the transaction and BudaPart Gate.
November 15, 2021
Südbahnhotel am Semmering: Former Grand Hotel Has New Owner
The former luxury hotel an hour's drive south of Vienna, which has been little used for decades, has been bought by the foundation of a Viennese entrepreneur and is to be revitalized. The focus is to be on cultural events. However, it will take years for the hotel to be fully developed.
November 5, 2021
Andrea Rois Is the New Head of Group Marketing and Communication at Soravia Investment Holding
Project developer Soravia is strengthening its team with Dr. Andrea Rois (44) as the new Head of Group Marketing & Communication.
November 4, 2021
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Wealth Management: Schelhammer Capital Bank Becomes Austria's Leading Private Bank
Bankhaus Schelhammer & Schattera AG and Capital Bank - GRAWE Gruppe AG have merged to form Schelhammer Capital, the strongest private bank in Austria. Read more about the newly created bank and what Chairman of the Board Christian Jauk said about the merger.
October 4, 2021
Real Estate in Austria: Purchase Prices of Houses and Apartments Up 10.7 Percent
The Austrian House Price Index - prices on the residential real estate market - continue to rise. With an increase of 10.7% compared to the 1st half of 2020, the price increase for houses and apartments was significantly above the average of recent years. Detailed information on the house price index can be found below.
September 23, 2021
ÖBAG: Attorney Edith Hlawati to Succeed Thomas Schmid
The Supervisory Board of Österreichische Beteiligungs AG (ÖBAG) has appointed the internationally recognized business lawyer Dr. Edith Hlawati as the new Chief Executive Officer of ÖBAG. She will succeed Thomas Schmid and take over the management of the state holding on 1 February 2022. Learn more about her and the selection process.
August 30, 2021
Real Estate: Property Becoming Increasingly Expensive in Austria
Real Estate prices continue to rise in Austria despite the COVID-19 pandemic. While the property market is becoming increasingly expensive, rents in Vienna remain fairly affordable. Learn the new cost of buying property in Austria and how it compares with the rest of Europe.
August 5, 2021
Building Permits in Vienna Reach Record Levels in 2021
In positive news for the construction industry, reports show that building permits in Vienna have reached record levels in the first quarter of 2021. They also show an interesting trend in Lower Austria.
July 16, 2021
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Arab Ambassadors in Vienna and Economic Relations between their Countries and Austria
The Ambassadors from Egypt, Iraq, Jordan, Morocco, Oman, Palestine, Qatar, Tunisia, and the UAE to Austria provided an economic overview of their countries and their relationship with Austria in an online forum with the Austro-Arab Chamber of Commerce (AACC).
July 11, 2021
Austrian Residential Property Market: Prices Continue to Rise
The real estate market in Austria continues to boom. Last year again surpassed the record set the year before, with both sales and the value of properties sold continuing to rise in 2020 compared with 2019. The most expensive district outside Vienna remains Kitzbühel in Tyrol. Housing prices in a five-year comparison: Austria: +26%, Vienna: +21%, Burgenland: +47%, Vorarlberg: +45%, Carinthia: +18%. Find out how the Austrian real estate market works.
April 28, 2021
Two of Austrian Biggest Commercial Real Estate Companies Could Turn to One
The Austrian commercial real estate company Immofinanz AG has decided to make a voluntary public takeover offer for the s Immo AG. The two companies have considered a merger in the past, but the intentions never succeeded. Whether or not the public takeover offer will be going through this time depends on the General Meeting of s Immo and antitrust approvals.
March 18, 2021
Austria's Real Estate: Single-Family Houses Expensive, Offices Cheap
Also as a result of the Covid-19 crisis, living spaces with a garden, a balcony or a terrace see a significant increase in demand, while office spaces and other commercial real estate loses value. Another new aspect of the real estate market in Austria is the rise in demand for single-family houses in the outskirts of bigger cities.
January 5, 2021
Investor Survey: Vienna Among Top 3 Locations for Real Estate Investments
Despite the Covid-19 crisis, Vienna is still one of the most attractive European metropolises for real estate investments. According to a recent survey among investors, London, Berlin and Vienna make up the Top 3 locations in which real estate is highly sought.
October 19, 2020
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Increase of Budget for Investment Subsidies to EUR 2 Billion
The Austrian Government has announced a budget increase for investment subsidies. A high demand and investment volume in the first three weeks of the application period has lead to this decision that is welcomed by the Federal Chamber of Commerce.
September 23, 2020
Foreign Trade Has Partially Recovered from Crisis
According to the latest report from Statistics Austria, imports and exports are only slightly behind last year's number indicating an upwards trend after Covid-19 has impacted foreign trade significantly.
September 8, 2020
WKO Secretary General: Labor Market Situation Improves, But Remains Great Challenge
The secretary general of Austria's Federal Chamber of Commerce WKO recognizes a slightly positive trend in the labor market but underlines the importance of ongoing and future economic measures.
September 7, 2020
Economic Sentiment in Austria and the EU Brightened Further in August
Businesses and the population of the EU still have below-average economic sentiment although the expectations improved over the last month. The sharp decline due to Covid-19 is made up by about 60 % already.
August 31, 2020
Student Apartments Are Getting more Expensive in Austria
In 4 out of 6 student cities across Austria, the rent for single apartments which are mostly used by students are increasing. Only in Graz and in Linz the cost of the rent is experiencing a slight decline.
August 27, 2020
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Austrian Real Estate Companies with Devaluations in Central and Eastern Europe
Austrian real estate companies CA Immo and s-Immo felt the pressure of the Covid-19 crisis and had to face significant revaluations of their properties in Austria, Germany and Central Eastern Europe.
August 25, 2020
Vienna's Mayor Michael Ludwig Met German Vice Chancellor and Minister of Finance Olaf Scholz
Mayor Michael Ludwig and German Vice Chancellor Olaf Scholz met for a working meeting in Vienna. Discussions were held about economic relations and municipal topics such as affordable housing.
August 25, 2020
Vienna: 44 Hectares of Train Station Will Turn Into Housing for 16,000 People
By 2033, the City of Vienna together with Austrian Railways (ÖBB) will turn the train station at Nordwestbahnhof (20th district, Brigittenau) into living spaces that will comfort 16,000 people.
August 21, 2020
Vienna Based UNIDO Holds Expert Panel to Discuss Developments in Industry and Society
The United Nations Industrial Development Organization hosted an expert panel about the future of industry and society. Main topics were the advancement of attaining the sustainable development goals and shaping society as a whole.
August 21, 2020
Properties for Development in Austria: Location, Location, Location
Property prices in Austria (average property prices and house price index) continued to show high price dynamics last year. The current average prices for plots, houses and apartments for development can be found below.
May 30, 2020
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Financier Ronny Pecik Appointed Chief Executive Officer of Immofinanz
Croatian-Austrian star investor and largest single investor becomes CEO of commercial real estate group Immofinanz AG.
April 23, 2020
Patrick Zehetmayr Appointed Boss of Erste Group's Commercial Real Estate Activities
The Salzburg native, who has almost 30 years of experience in banking and real estate business with Erste Group, was chosen to lead Erste's commercial real estate coverage and financing.
February 19, 2020
Is Benko's Chrysler Deal in the Big Apple a Bargain?
The New York property firm RFR Holding LLC of German-American Aby J. Rosen, together with Signa Holding of Tyrolean real estate investor Rene Benko, is buying the traditional Chrysler Building in New York City for around 150 million dollars. The land is not part of the deal and the rent amounted to USD 32.5 million in 2018 and will continue to rise to USD 41 million a year by 2028.
March 11, 2019
Benko-Hyatt Project - New Luxury Lifestyle Hotel Opens in Vienna in April 2019
The first Andaz Hotel in Austria, the boutique hotel "Andaz Vienna Am Belvedere" at the new Vienna Central Station, opposite the 21er Haus and the Schweizergarten, next to the park apartments at the Belvedere, is to be opened on 17 April 2019. It is the second project and a 50:50 joint venture between René Benko's Signa Group and Andaz Hotels, an affiliate of Hyatt Hotels Corporation.
March 1, 2019 · Sponsored Content
Expansion and Modernization of Hilton Vienna am Stadtpark
The Hilton Vienna Parkview, the third-largest Hilton Hotel in Europe with a total usable space of around 50,000 square metres on a total of fifteen floors, is being developed and comprehensively modernised by the Vienna Invester Group as a developer and Hilton International while it continues to operate. The modernisation work will start at the beginning of 2019 and completion is scheduled for the end of 2020. With the completion of the expansion, the current capacity of 579 rooms is to be expanded to 660 rooms. So far, no information has been provided on the investment sum.
December 14, 2018
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Ex-Magna Boss Buys Former Employer's Headquarters in Oberwaltersdorf
The Styrian Car Manager of Oleg Deripaska's Russian Machines Company and former Magna CEO Siegfried Wolf has bought the former Magna headquarters in Oberwaltersdorf.
March 2, 2016
Starwood Sells Hotel Imperial Vienna for EUR 71 Million
Starwood Hotels & Resorts Worldwide, Inc. announced that it has closed on the sale of Hotel Imperial Vienna, a Luxury Collection Hotel, to Al Habtoor Investment - the investment arm of UAE conglomerate Al Habtoor Group for 71 million euros. As part of the transaction, all rooms and suites of the iconic hotel will be renovated over the next four years. Hotel Imperial will continue to operate as part of The Luxury Collection brand under a new long-term management agreement.
February 26, 2016
Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility
Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.
February 22, 2016
Erste Group Moves to New Headquarters at Erste Campus
At the beginning of this year Erste Group started moving into its new headquarters at Erste Campus located in the new district of Quartier Belvedere, built on the former site of the Südbahnhof train station.
February 11, 2016
Central and Eastern European Forum in Vienna next Week
The Central and Eastern European Forum - organized by Euromoney - is taking place in Vienna next week. 1,000 top level policymakers, issuers, and commentators from the region will join local and international investors to help plan, debate and analyze the economic agenda for the region for the year ahead.
January 13, 2016
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Biggest Viennese Real Estate Deal Ever - Sale of The Mall Closed
Bank Austria - via its subsidiary BAI - closed the sale of "The Mall", the largest and most modern shopping mall in the heart of Vienna. The buyer is a consortium led by Morgan Stanley Real Estate Investing (MSREI). UniCredit Bank Austria did not disclose the price, but claims that the transaction is Vienna's largest real estate deal ever.
December 16, 2015
Bank Austria Sells Prominent Property "The Mall" to Morgan Stanley Consortium
UniCredit Bank Austria AG announces that the purchase agreement for the shopping centre The Mall at Wien Mitte was signed with Morgan Stanley Real Estate Investing (MSREI), pending approval by the antitrust authorities.
October 22, 2015
Conwert in Talks to Purchase BGP Investment's German Properties
Conwert Immobilien Invest SE currently is in exclusive discussions with BGP Holdings Europe S.à.r.l. with respect to the potential acquisition of the German residential property assets of BGP Investment S.à.r.l., an subsidiary of BGP Holdings Europe S.à.r.l.
July 22, 2015
Niki Lauda Acquires Stakes in Benko's Real Estate Firms
The private foundation of former Formula 1 driver Niki Lauda will acquire 1% of Signa Prime and a 10% stake in Signa Retail.
July 17, 2015
Atrium European Real Estate Tenders Offer for €130 Mln Bonds
Listed property developer Atrium European Real Estate Limited announces its plan to launch an invitation to holders of its €130 million Floating Rate Notes due 2017, of which €83.85 million is currently outstanding and €46.15 million is currently held by Atrium itself, to buyback their bonds.
June 5, 2015
Purchasing Managers' Index: Austrian Industry Shows First Signs of Recovery
Bank Austria has published its latest "Purchasing Managers' Index" on the Austrian economy. At the end of the first quarter in 2015 subtle signs of a pick-up in Austrian economic activity were detected for the first time in about six months.
May 5, 2015
Immofinanz Files Lawsuit Against CA Immo
Immofinanz CEO Eduard Zehetner fulfilled his threat that the company would file a lawsuit against CA Immo and its subsidiary PHI. The complaint was filed with the commercial court in Vienna last Thursday, news magazine ‘profil’ reports in its Monday issue.
April 13, 2015
Athos Real Estate Switched to Vienna Stock Exchange Mid Market
Athos Immobilien AG joined the mid market exchange segment of Vienna Stock Exchange, which is supposed to offer greater flexibility. Apart from Athos Immobilien AG, the mid market currently lists ten further companies.
April 3, 2015
ECB Unleashes Quantitative Easing - How does it work?
Today, the ECB finally commenced on a large scale sovereign bond-buying programme. The €60bn monthly asset purchases include covered bonds and asset backed securities. Due to the flood of cheap money, the DAX was boosted. The index increased by up to one per cent to a record high of 10,399.67 points. Quantitative easing is a monetary policy where a central bank creates new money electronically to buy financial assets. The aim is to stimulate an economy when standard monetary policy has become ineffective. How does it work?
January 22, 2015
Russian Investor Boris Mints to Launch Tender Offer for 10 Pct of CA Immo Shares
O1 Group Limited of Russian investor Boris Mints has made a voluntary partial public takeover offer of 10% of additional CA Immo shares. The offer comprises the purchase of up to 9,735,276 non-par value bearer shares of CA Immo (ISIN AT0000641352), which are admitted to the Official Market on the Vienna Stock Exchange.
November 28, 2014
Business Indicator: Dip in Economic Activity Towards End of Year, but Hope Remains for 2015
Bank Austria has published its latest "Business Indicator" on the Austrian economy. The Bank's analysts believe that in light of the increasing uncertainty in recent months, the moderate recovery achieved by the European and therefore the Austrian economy too this year is taking a breather. The Russia/Ukraine crisis and the tensions in the Middle East have blighted sentiment in the Austrian economy at the start of autumn on a broad scale.
October 17, 2014
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