Vienna Property Market Update, Prices, Trends & Data Q2 2026

← Back to overview TL;DR: The Vienna property market is stabilising in 2026 after two years of price correction. Purchase prices are plateauing at a high level, while rents continue to rise. Demand for tenement buildings (Zinshäuser) and off-market deals is picking up. ECB rate cuts are making financing attractive again.

What does a square metre cost in Vienna? Prices by district 2026

The following overview shows current price ranges for condominiums and tenement buildings (Zinshäuser) in Vienna's most sought-after districts. The figures are based on Vires Real Solutions' own market observation, supplemented by WKÖ data and ImmoUnited Q1/Q2 2026.

District	Ø €/m² apartment	Trend YoY	Ø €/m² Zinshaus
1st Inner City	14,500–18,000	+1 %	12,000–15,000
4th Wieden	8,500–11,000	+2 %	7,000–9,500
6th Mariahilf	7,500–10,000	+2 %	6,500–8,500
7th Neubau	8,000–11,500	+3 %	7,000–9,000
8th Josefstadt	7,000–9,500	+1 %	6,000–8,000
9th Alsergrund	7,500–10,000	+2 %	6,500–8,500
13th Hietzing	6,500–9,000	0 %	5,500–7,500
19th Döbling	6,000–9,500	+1 %	5,000–7,000
22nd Donaustadt	4,000–6,500	+4 %	3,500–5,500
23rd Liesing	4,500–6,500	+3 %	4,000–5,500

Source note: Vires Real Solutions' own market observation, supplemented by WKÖ data and ImmoUnited Q1/Q2 2026.

How are rents developing in Vienna in 2026?

The Vienna rental market remains tight. The vacancy rate of around 1.2 percent is among the lowest in all of Europe, which increases pressure on tenants and yields for landlords alike.

• Free-market rent, new build: EUR 18 to 22/m², up to EUR 28/m² in the 1st district
• Category rent, old build category A: regulated at EUR 4.14/m² (as of 2026)
• Guideline rent (Richtwert) Vienna: EUR 6.67/m² base value plus surcharges depending on fittings and location
• Overall vacancy rate Vienna: approx. 1.2 percent (extremely low, almost no market buffer)
• Rent increase, new build YoY: +4 to 6 percent

The split is particularly noticeable: old-build apartments with statutorily regulated rents are significantly cheaper for tenants than freely lettable new builds. For investors this means a tenement building with regulated leases usually has lower ongoing income, but stable value appreciation potential through substance and location.

What is happening in Vienna's tenement building (Zinshaus) market?

After the noticeable drop in transactions in 2023 and 2024, triggered by rising interest rates and uncertainty, the tenement building market is picking up again in 2026. Institutional investors and family offices are back. Private capital, too, is once again seeking security in Viennese building substance.

• Transaction volume, Vienna tenement buildings 2025: approx. EUR 1.2 billion, rising again after the 2023/24 decline
• Gross yields: 2.5 to 4.5 percent depending on district and condition
• Purchase price multiples: 22 to 35 times the annual rent, with the city centre achieving the highest multiples
• Off-market share: approx. 30 to 40 percent of all transactions take place discreetly, without public listings
• Strongest demand: 3rd to 9th districts, founder-era tenement buildings with development potential

The off-market share of 30 to 40 percent shows that anyone needing access to discreet deals depends on an active network, not on portals. Vires Real Solutions brokers a substantial proportion of the properties it handles outside of public marketing.

How do ECB interest rates affect the Vienna property market?

The interest rate turnaround was the defining event of the past two years. Now the cycle is reversing: the ECB is cutting rates step by step, and this is already being felt in the affordability of property.

• ECB key interest rate April 2026: 2.5 percent, after a peak of 4.5 percent in 2023
• Average mortgage rate Austria: approx. 3.2 to 3.8 percent variable, 3.5 to 4.2 percent fixed
• Effect: affordability is improving noticeably, demand is picking up
• Forecast: with further ECB easing, a revival of the market in H2 2026 is likely

For buyers this means that anyone purchasing in 2026 is using a window with still stable prices and interest rates that have already fallen significantly, a more favourable ratio than during the 2021/22 peak phase.

Which property types are particularly in demand in 2026?

Not every property benefits equally from the current environment. Demand has become more clearly structured and shows distinct priorities.

• Tenement buildings with development potential: substance-rich founder-era buildings in Vienna's 3rd to 9th districts that can be upgraded through rent increases, extensions or attic conversions
• Smaller investment apartments (1 to 2 rooms): attractive to investors thanks to low entry prices and high lettability
• Energy-efficient properties (class A/B): achieve a price premium of 20 to 30 percent over energetically poor comparable properties
• Off-market properties: discreet brokerage without public listings, often better prices for both sides

What are the most important market indicators for owners?

Anyone considering a sale should know the current market parameters, not from newspapers but from ongoing transaction activity.

• Average time on market: 45 to 90 days, heavily dependent on property type, price and condition
• Asking prices vs. purchase prices: on average 3 to 7 percent negotiation room for correctly priced properties
• Listing volume Vienna (ImmoScout24): stable, slightly rising, with more supply coming back to the market
• Buyer enquiries per property: 40 to 60 enquiries with market-appropriate pricing and professional marketing

An incorrectly priced property can sit on the market for months and permanently damage buyer interest. A sound market value assessment is therefore the most important first step before any sale.

Frequently asked questions about the Vienna property market 2026

How much does an apartment in Vienna cost in 2026?

Depending on the district, between EUR 4,000 and EUR 18,000 per square metre. The Vienna average is around EUR 5,500/m². The most expensive locations are in the 1st district (Inner City), with more affordable entry prices in Donaustadt (22nd) and Liesing (23rd).

Have property prices in Vienna fallen?

There was a slight price correction in 2023 and 2024, not a crash. From 2025 the market is stabilising again. In some districts such as Donaustadt (22nd) or Neubau (7th), slight increases are already visible in 2026.

What is the yield on tenement buildings (Zinshaus) in Vienna?

The gross yield on Viennese tenement buildings is currently 2.5 to 4.5 percent, depending on district, condition and rental structure. Purchase price multiples range between 22 and 35 times the annual net rent.

Is buying property in Vienna worthwhile despite high interest rates?

The ECB cut its key interest rate from 4.5 percent (2023) to 2.5 percent (April 2026). Mortgage rates have fallen. Anyone buying now often finances on far better terms than in 2022, and at stabilised prices rather than at a peak.

What is a purchase price multiple for a tenement building?

The purchase price multiple indicates how many times the annual net rent is paid as the purchase price. In Vienna this multiple currently ranges between 22 and 35 depending on district and condition. City centre locations achieve the highest multiples.

Key Takeaways

• Market is stabilising: after the 2023/24 correction, demand is picking up again in 2026, no boom but a clear recovery
• Rental market stays tight: 1.2 percent vacancy, new-build letting +4 to 6 percent YoY, letting continues at pace
• Rates are falling: ECB cuts noticeably improve affordability, purchase demand follows
• Off-market is decisive: 30 to 40 percent of tenement deals are discreet, network access is the key advantage
• Energy efficiency is a price factor: class A/B properties achieve a 20 to 30 percent premium over inefficient comparable properties

Would you like to know what your property is worth in the current market?
→ Request a property valuation