Vienna’s rental apartment market has seen a 11 percent increase in prices within the past year, according to real estate platform Immoscout24. The median average price for a rental apartment in Vienna is currently 18.7 euros per square meter, with landlords experiencing a significant surge in demand.
However, there are considerable differences in asking prices depending on the district. In the first quarter of 2024, rental apartments in some areas were offered for only a 3 percent increase compared to the same period last year. In Hietzing, rents increased by around a quarter to 19.5 euros per square meter, while Favoriten saw an increase to 19.8 euros per square meter.
In other districts such as Josefstadt, Donaustadt, Margareten, and Penzing experienced price increases of around a fifth compared to the previous year. The lowest price increases were recorded in Brigittenau, Ottakring, Simmering, Liesing and Floridsdorf where the cheapest offers for rental apartments were found at Rudolfsheim at 14.5 euros per square meter followed by Ottakring and Hernals respectively.
The demand for rental properties increased by 26 percent compared to the previous year with Mariahilf seeing an increase of over 50 percent while Wieden and Neubau saw relatively low demand for rental properties compared to other districts in Vienna
