viennaresidence business of the Vienna real estate market continues to boom rental apartments large demand for property objects and the simultaneous decline of offers lead to a rise in real estate prices. Meanwhile, the tenant market can recover. In a worldwide comparison of rental is located on Court 42. Vienna property prices have risen in 2011 compared to 2010 to 9.2 percent. The offer of condos is limited at the moment mainly in urban areas.
According to immobilien.net offering by the beginning of 2010 until the end of 2011 is throughout Austria decreased by 30 percent. Especially in Vienna, the number of objects went back on the market by half. The investor demand far exceeds supply. This led to the price increases in 2011, especially in popular inner-city regions. Condos in downtown Vienna are in the price range at the front, namely 6.203 euros per square meter, followed by Dobling (3.788 euro), Josefstadt (3.009 euro), construction (2.915 euro), highway (2,840 euro) and Alsergrund (2,795 euros).
This price dynamics at the Vienna real estate market surprised even real estate experts. The developments of the market back urban marginal zones and less popular districts in the Center, which at the same time leads to an appreciation of these regions. One reason for the booming real estate market could be the current economic situation. Many investors see a safe sector in this industry to invest. Centrally located apartments continues the trend, whereas the cost of a holiday house in the Green go back a little. Positive tenant market result the popularity of investors rentals in Vienna enjoy a relaxation of the tenant market and a slight oversupply of rental properties. The average rental prices are in Vienna between 8 and 16 euros per square meter, where high differences between districts can be observed. ECA international, a human resources consulting firm, compares in its new study of rental accomodation reports”the cost of an 80-square-meter 3-room apartment around the world. During Tokyo Vienna lands there as most costliest turns out on Court 42. Second place is London, followed by Moscow, Caracas, Hong Kong and Singapore. In the European rankings is Vienna on 16th, behind Copenhagen and Milan. The largest expenditures include rental costs for expatriates, businessmen who are sent by their company for a temporary period of time abroad. According to ECA most companies provide expatriates rent grants, also to currency fluctuations its but to compensate. Also the rental of serviced apartments note the changes to the Vienna real estate market. MOE Mahmoodian, Managing Director of viennaresidence. business rental apartmentsbemerkt, that currently smaller apartments between 40 and 50 square meters are very much in demand”. Also be an important factor, the location where the apartment walking distance from public transportation should be accessible in 5 minutes. Each Central apartment, more popular it is.