Let's see some important information about the real estate market.
Financing:Housing prices in Vienna rose throughout 2009. This stability was driven by a low-risk mortgage market. Banks currently require a 20% down payment for a mortgage and some now even require 30% plus.
Prices and Districts:Prices are higher closer to the city center, most evident in the high-end district of Innere Stradt (1st District). Apartments here can sell for 10,000 to 14,000 euros per square meter ($1,350 to $1,890 per square foot). In districts surrounding district 1, apartment prices are about 3,500 euro per square meter ($470/square foot).
Single family homes are farther from the city center in districts 13, 18 and 19. Districts 19 and 22 are home to a large expat community and international schools. Prices here are about 7,000 euro/sq m ($945/sq ft) for an upscale family home.
Rental costs vary across districts of Vienna, however will trend downwards as you move away from the city center.
Read more about Districts of Vienna
Apartment Buy and Rental rates:Rent:
|RENT PER MONTH||EUR||USD||GBP|
|Apartment (1 bedroom) in City Centre||700.00€||$888.86||601.72 £|
|Apartment (1 bedroom) Outside of Centre||533.33€||$677.23||458.45 £|
|Apartment (3 bedrooms) in City Centre||1,386.67€||$1,760.79||1,191.98 £|
|Apartment (3 bedrooms) Outside of Centre||1,560.00€||$1,980.89||1,340.98 £|
|BUYING APARTMENT PRICE||EUR||USD||GBP|
|Price per Square Meter to Buy Apartment in City Centre||3,300.00€||$4,190.34||2,836.68 £|
|Price per Square Meter to Buy Apartment Outside of Centre||2,600.00€||$3,301.48||2,234.96 £|
|Basic (Electricity, Gas, Water, Garbage)||205.00€||$260.31||176.22 £|
|Mobile Phone 100 Minutes Call||13.75€||$17.46||11.82 £|
|Internet (2 Mbps ADSL flat)||30.00€||$38.09||25.79 £|
Regulations: Generally, buyers must seek approval from the city government to purchase a property. In Vienna, the notary involved with the sale will submit an application to the city government on behalf of the buyer. Fees are usually 2% of the home price.
Regulations and Fees:
As of January, 2009, homeowners in Austria are required to obtain an Energy Performance sticker. The energy ratio tells how much energy is needed in kilowatt hours per year per square meter for the building.
Fees: Extra fees in the Austrian real estate market can amount to 10% on top of the sales price.
Property sale in Vienna
Luxury apartments in Vienna