Precise data

In which districts rents are rising in particular

Rents are rising dramatically in Vienna - living space is becoming scarce

(Bild: Evelyn Hronek)

Rents in Vienna are rising rapidly - and with them the challenges for apartment seekers. In which districts the Viennese now have to dig particularly deep into their pockets. 

Rents in Vienna have risen by a whopping eleven percent on average in the past year. This is according to an analysis by ImmpScout24. This makes the federal capital one of the most expensive places to live in Austria. A square meter now costs an average of 19.2 euros, meaning that a 70-square-meter apartment costs an impressive 1343 euros per month. But what is driving prices up so high?

Vienna: expensive and sought-after
The demand for rental apartments in Vienna has almost exploded - by 29 percent compared to the previous year. Districts such as Floridsdorf, where demand has risen by 73 percent, as well as Favoriten (+63 percent) and Ottakring (+62 percent) are particularly sought-after. The increasing interest goes hand in hand with growing financial pressure: in Floridsdorf, the price per square meter is now EUR 18.3, in Favoriten EUR 19.2. Even in traditionally more affordable districts such as Rudolfsheim-Fünfhaus, prices are rising noticeably. An increase of 9 percent to 16 euros per square meter was recorded here.

(Bild: Krone KREATIV/stock.adobe.com)

More demand, less choice
The high prices are forcing many apartment seekers to make compromises. Markus Dejmek, Head of ImmoScout24 Austria, describes the situation as increasingly tense: "Many have to make decisions more quickly and compromise on location or infrastructure." This is particularly drastic when compared with other federal states: While a 70-square-meter apartment in Tyrol costs around 1400 euros, in Upper Austria it is only 804 euros - a difference of 74 percent.

A look at the districts
The development is particularly alarming in inner-city districts such as Leopoldstadt, where prices per square meter have risen by 14 percent to 19.4 euros, or in Donaustadt, where an increase of 25 percent to 21.8 euros has been recorded. At 21 euros per square meter, Alsergrund is even just below the frontrunner Innere Stadt (23.9 euros). The current figures paint a bleak picture for those looking for accommodation. Without political measures to relieve the rental market, the situation threatens to deteriorate further.