Vienna rental apartments have experienced an 11 percent increase in asking prices within a year, according to Immoscout24. This trend was particularly pronounced in the first quarter of 2024, where rental apartments were offered for 11 percent more than the same period last year. The median average price is currently 18.7 euros per square meter, with landlords experiencing a 26 percent increase in demand.
However, the rise in prices varies significantly depending on the district. Brigittenau, Ottakring, and Simmering saw only up to a 3 percent increase in asking prices, according to Markus Dejmek, Austria head of Immoscout. Rental apartments in Hietzing and Favoriten increased by around a quarter to 19.5 euros per square meter and 19.8 euros per square meter respectively.
Josefstadt, Donaustadt, Margareten, and Penzing also experienced price increases of around a fifth compared to the same period last year. The lowest price increases were recorded in Brigittenau, Ottakring, Simmering, Liesing and Floridsdorf. The cheapest offers for rental apartments were found in Rudolfsheim at 14.5 euros per square meter followed by Ottakring and Hernals at around 16 euros per square meter respectively.
Immoscout reported that demand for rental properties increased by 26 percent compared to the previous year, with Mariahilf and Floridsdorf seeing demand increase by over 50 percent while rental apartments in Brigittenau and Wieden were less popular among renters.
In conclusion, while asking prices for rental apartments have increased across Vienna’s districts by an average of 11%, there are significant differences depending on where you look – with some districts seeing only slight increases while others have experienced much higher hikes due to high demand from renters seeking affordable housing options.
