Prices have risen significantly in Vienna, and yields are moderate

Residential Valuation Specialist | September 27, 2019

Last Updated: Sept. 27, 2019
VIENNA - Innere Stadt apartments COST (€) YIELD (p.a.) PRICE/SQ.M. (€)
TO
BUY
MONTHLY RENT TO BUY MONTHLY RENT
<50 sq. m. 523,550 1,051 2.41% 10,471 21.02
65 sq. m. 805,285 1,262 1.88% 12,389 19.42
105 sq. m. 1,008,945 1,894 2.25% 9,609 18.04
>130 sq. m. 1,992,640 2,466 1.49% 15,328 20.55
VIENNA - Leopoldstadt apartments
<50 sq. m. 279,850 1,093 4.69% 5,597 21.86
65 sq. m. 379,600 1,015 3.21% 5,840 15.62
105 sq. m. 682,920 1,631 2.87% 6,504 15.53
>130 sq. m. 773,040 1,584 2.46% 6,442 13.20
VIENNA - Landstraße apartments
<50 sq. m. 320,500 1,102 4.13% 6,410 22.04
65 sq. m. 370,110 918 2.98% 5,694 14.12
105 sq. m. 676,725 1,535 2.72% 6,445 14.62
>130 sq. m. 1,022,970 1,762 2.07% 7,869 14.68
VIENNA - Wieden apartments
<50 sq. m. 306,650 752 2.94% 6,133 15.04
65 sq. m. 374,530 1,083 3.47% 5,762 16.66
105 sq. m. 667,065 1,644 2.96% 6,353 15.66
>130 sq. m. 921,840 2,051 2.67% 7,682 17.09
VIENNA - Margareten apartments
<50 sq. m. 179,850 839 5.60% 3,597 16.78
65 sq. m. 316,810 968 3.67% 4,874 14.89
105 sq. m. 517,440 1,542 3.58% 4,928 14.69
>130 sq. m. 746,070 1,885 3.03% 5,739 15.71
VIENNA - Mariahilf apartments
<50 sq. m. 273,200 969 4.25% 5,464 19.37
65 sq. m. 333,775 1,043 3.75% 5,135 16.04
105 sq. m. 557,865 1,334 2.87% 5,313 12.70
>130 sq. m. 1,024,200 1,744 2.04% 8,535 14.53
VIENNA - Neubau apartments
<50 sq. m. 305,000 917 3.61% 6,100 18.34
65 sq. m. 427,440 1,064 2.99% 6,576 16.37
105 sq. m. 665,280 1,566 2.82% 6,336 14.91
>130 sq. m. 931,710 1,703 2.19% 7,167 14.19
VIENNA - Josefstadt apartments
<50 sq. m. 441,000 929 2.53% 8,820 18.57
65 sq. m. 349,960 1,047 3.59% 5,384 16.10
105 sq. m. 761,250 1,580 2.49% 7,250 15.05
>130 sq. m. 1,517,640 1,919 1.52% 12,647 15.99
VIENNA - Alsergrund apartments
<50 sq. m. 295,050 850 3.46% 5,901 17.00
65 sq. m. 387,335 951 2.95% 5,959 14.63
105 sq. m. 763,770 1,600 2.51% 7,274 15.24
>130 sq. m. 1,180,400 1,946 1.98% 9,080 16.22
VIENNA - Favoriten apartments
<50 sq. m. 199,750 827 4.97% 3,995 16.54
65 sq. m. 239,135 954 4.79% 3,679 14.68
105 sq. m. 385,665 1,361 4.23% 3,673 12.96
>130 sq. m. 339,840 1,448 5.11% 2,832 12.07
VIENNA - Simmering apartments
<50 sq. m. 199,700 864 5.19% 3,994 17.27
65 sq. m. 248,560 897 4.33% 3,824 13.80
105 sq. m. 414,015 1,330 3.86% 3,943 12.67
>130 sq. m. 537,680 n.a. n.a. 4,136 n.a.
VIENNA - Meidling apartments
<50 sq. m. 221,150 801 4.35% 4,423 16.02
65 sq. m. 285,350 896 3.77% 4,390 13.78
105 sq. m. 433,965 1,336 3.69% 4,133 12.72
>130 sq. m. 545,090 1,505 3.31% 4,193 11.58
VIENNA - Hietzing apartments
<50 sq. m. 267,450 791 3.55% 5,349 15.81
65 sq. m. 314,665 880 3.36% 4,841 13.54
105 sq. m. 662,340 1,475 2.67% 6,308 14.05
>130 sq. m. 1,007,370 1,936 2.31% 7,749 16.13
VIENNA - Penzing apartments
<50 sq. m. 231,900 850 4.40% 4,638 17.00
65 sq. m. 284,765 911 3.84% 4,381 14.02
105 sq. m. 484,575 1,237 3.06% 4,615 11.78
>130 sq. m. 594,600 1,388 2.80% 4,955 11.57
VIENNA - Rudolfsheim - Funfhaus apartments
<50 sq. m. 201,200 847 5.05% 4,024 16.94
65 sq. m. 298,155 888 3.57% 4,587 13.66
105 sq. m. 461,370 1,361 3.54% 4,394 12.96
>130 sq. m. 472,420 n.a. n.a. 3,634 n.a.
VIENNA - Ottakring apartments
<50 sq. m. 226,050 794 4.21% 4,521 15.87
65 sq. m. 301,340 870 3.46% 4,636 13.38
105 sq. m. 538,755 1,345 3.00% 5,131 12.81
>130 sq. m. 474,480 1,073 2.71% 3,954 8.94
VIENNA - Hernals apartments
<50 sq. m. 236,900 717 3.63% 4,738 14.34
65 sq. m. 315,445 939 3.57% 4,853 14.45
105 sq. m. 504,735 1,407 3.35% 4,807 13.40
>130 sq. m. 871,000 2,064 2.84% 6,700 17.20
VIENNA - Wahring apartments
<50 sq. m. 299,100 873 3.50% 5,982 17.45
65 sq. m. 373,035 1,039 3.34% 5,739 15.98
105 sq. m. 679,350 1,590 2.81% 6,470 15.14
>130 sq. m. 887,760 2,018 2.73% 7,398 16.82
VIENNA - Dobling apartments
<50 sq. m. 326,250 940 3.46% 6,525 18.80
65 sq. m. 458,445 1,111 2.91% 7,053 17.09
105 sq. m. 619,185 1,799 3.49% 5,897 17.13
>130 sq. m. 921,700 2,206 2.87% 7,090 18.38
VIENNA - Brigittenau apartments
<50 sq. m. 225,050 963 5.13% 4,501 19.26
65 sq. m. 297,440 914 3.69% 4,576 14.06
105 sq. m. 368,760 1,278 4.16% 3,512 12.17
>130 sq. m. 506,090 n.a. n.a. 3,893 n.a.
VIENNA - Floridsorf apartments
<50 sq. m. 235,950 810 4.12% 4,719 16.20
65 sq. m. 282,295 935 3.97% 4,343 14.38
105 sq. m. 482,790 1,471 3.66% 4,598 14.01
>130 sq. m. 571,090 1,844 3.88% 4,393 15.37
VIENNA - Donaustadt apartments
<50 sq. m. 246,750 823 4.00% 4,935 16.45
65 sq. m. 310,115 961 3.72% 4,771 14.79
105 sq. m. 471,765 1,664 4.23% 4,493 15.85
>130 sq. m. 682,560 2,069 3.64% 5,688 17.24
VIENNA - Liesing apartments
<50 sq. m. 257,750 850 3.95% 5,155 16.99
65 sq. m. 286,715 943 3.94% 4,411 14.50
105 sq. m. 488,880 1,464 3.59% 4,656 13.94
>130 sq. m. 520,650 n.a. n.a. 4,005 n.a.
SALZBURG - Salzburg City apartments
<50 sq. m. 317,800 791 2.99% 6,356 15.82
65 sq. m. 389,220 948 2.92% 5,988 14.58
105 sq. m. 695,940 1,567 2.70% 6,628 14.92
>130 sq. m. 869,440 1,868 2.58% 6,688 15.57
GRAZ - Graz City apartments
<50 sq. m. 192,500 654 4.07% 3,850 13.07
65 sq. m. 227,500 798 4.21% 3,500 12.28
105 sq. m. 365,715 1,238 4.06% 3,483 11.79
>130 sq. m. 483,210 1,242 3.08% 3,717 10.35
All yields are gross - i.e., before taxes, repair costs, ground rents, estate agents fees, and any other costs. Net yields (what you´ll really earn) are typically around 1.5% to 2% lower.
Source: IMMOPREISE Definitions: Data FAQ See also: Update Schedule

For a long time home prices have been rising in Vienna. Result: gross rental yields - the return on investment on a property before all expenses - are no longer good. However, it all depends where you buy.

The basic rule is that yields are higher in less expensive districts

So yields are at their lowest in District 1 (Innere Stadt). Innere Stadt is Vienna´s most luxurious and least populated district, with roughly 17,000 inhabitants. But with a workforce of around 100,000, it is Vienna´s largest employment locale.

Apartments in Innere Stadt change hands at around EUR 11,000 to EUR 13,000 per sq. m., whereas in the other areas apartments cost around only EUR 3,500 to EUR 7,800 per sq. m. Yields in Innere Stadt range from 1.7-2.3% At this kind of yield, no-one is buying an apartment to rent it out. These are the residences of the rich.

But acceptable yields can be had in districts such as Margereten, Mariahilfen, Favoriten, Hernals, or Leopoldstadt, where apartment costs vary enormously from EUR 3,500 to EUR 5,400 per sq. m.. In these districts, yields range from nearly 5% for very small apartments, to 3-4.4% for large apartments.

So one should choose one´s district and size carefully. Since a large apartment is less trouble to manage than a couple of smaller ones, a largish apartment in Favoriten with a yield of 4.3% has attractions, for example.

Outside Vienna, Salzburg apartments tend to cost around EUR 5,300 to EUR 6,300 per sq. m. Rents on Salzburg apartments are close to Viennese levels, at around from EUR 12-17 per sq. m. per month. Salzburg gross rental yields range from 2.4% to 3.8%.

Apartments are most affordable in Graz, where apartments cost, on average, EUR 3,300 to EUR 4,400 per sq. m. In Graz, rents range from EUR 10.00 to EUR 13.50 per sq. m. per month. Gross rental yields in Graz are slightly better than in Salzburg - ranging from 2.5% to 4.9%. The smallest apartments return the highest rental yields.

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