Vienna’s rental apartment market has experienced a 11 percent increase in prices within the past year, according to Immoscout24. During the first quarter of 2024, rental apartments were offered for 11 percent more than in 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, there are significant differences depending on the district. While rental apartments in Brigittenau, Ottakring, and Simmering only increased by up to 3 percent, Hietzing saw an increase of around a quarter to 19.5 euros per square meter. Favoriten also experienced an increase to 19.8 euros per square meter.
Other districts such as Josefstadt, Donaustadt, Margareten, and Penzing 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 15 euros per square meter respectively.
Demand for rental properties increased by 26 percent compared to the previous year with Mariahilf seeing demand increase by over 50 percent followed by Hernals and Alsergrund while rental apartments in Brigittenau, Wieden Neubau and Hietzing were less in demand with Mariahilf recording a decrease of -5% demand compared to the previous year