Elegant, historic, Vienna is a city of grand imperial places and museums. It is also a popular place for wealthy foreigners looking into second homes. Vienna is perfect for visitors who appreciate culture, history and the arts. The city has some of Europe’s most stylish shops and many charming cafes and restaurants.
“We expect prices for top luxury apartments will rise above €30 000 per sq m soon”, some property experts say
Most of the city’s attractions are encompassed by the Ringstrasse, a beautiful road encircling the downtown area. In this neighborhood, international buyers pushed up apartment prices as high as €25 000 per sq m, a level that equals those in Paris or Zurich. Some of the most expensive apartments, often penthouses built on top of old buildings, were snapped up by buyers from Russia, Ukraine and other former Soviet republics looking for solid investments and a home in a politically stable country.
Most of Vienna property market is still primarily composed by apartment blocks, with one-family homes a rarity, even in most residential districts.
As rents have not kept up with prices, investors need to accept returns of less than 4%, and sometimes as low as 1.5%. For international buyers, property is not held for speculative reasons, but they are held for the long term, kept as a future living place for children and often passed on in the family.
Future market forecast: “we expect prices for top luxury apartments will rise above €30 000 per sq m soon”, some property experts say.
Prime rents per sq m in high-end segment in 2012
Elegant, historic, Vienna is a city of grand imperial places and museums. It is also a popular place for wealthy foreigners looking into second homes. Vienna is perfect for visitors who appreciate culture, history and the arts. The city has some of Europe’s most stylish shops and many charming cafes and restaurants.
“We expect prices for top luxury apartments will rise above €30 000 per sq m soon”, some property experts say
Most of the city’s attractions are encompassed by the Ringstrasse, a beautiful road encircling the downtown area. In this neighborhood, international buyers pushed up apartment prices as high as €25 000 per sq m, a level that equals those in Paris or Zurich. Some of the most expensive apartments, often penthouses built on top of old buildings, were snapped up by buyers from Russia, Ukraine and other former Soviet republics looking for solid investments and a home in a politically stable country.
Most of Vienna property market is still primarily composed by apartment blocks, with one-family homes a rarity, even in most residential districts.
As rents have not kept up with prices, investors need to accept returns of less than 4%, and sometimes as low as 1.5%. For international buyers, property is not held for speculative reasons, but they are held for the long term, kept as a future living place for children and often passed on in the family.
Future market forecast: “we expect prices for top luxury apartments will rise above €30 000 per sq m soon”, some property experts say.
Prime rents per sq m in high-end segment in 2012
