Problem Child of the Real Estate Industry: Continued Price Decline for Tenement Buildings in Vienna

The Vienna tenement market is not making any progress. Since 2022, there has been a drop in prices. At least since last autumn, the downward trend has slowed, although it has not stopped, according to the EHL tenement market report published on Wednesday. According to the report, insolvencies and the partial rent price cap have kept prices under pressure. The more central the location, the better for the selling price; good locations perform significantly better than the overall market.

Price Drop Also in Vienna's Inner City

In the 1st district, prices have decreased by an average of ten to 15 percent. In good locations between the Ring and Gürtel, it was already 20 to 30 percent. On the periphery, the decrease in less attractive micro-locations was even up to 50 percent. There, the market is also less liquid, and sales processes take an exceptionally long time.

(APA/Red)

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