Viennese Allotment Gardens in High Demand: Prices Soar
Allotment gardens in Vienna are no longer just considered a retreat in the green, they have also become coveted investment objects. As a recent evaluation of the land registry database IMMOunited shows, the square meter prices for allotment gardens in the federal capital have almost doubled within five years.
Allotment Garden Boom in Vienna: Prices Rise Rapidly
According to the analysis, an average of around 165 Viennese allotment gardens changed owners per year over the past ten years. In the five-year period from 2020 to 2024, private individuals dominated: 62 percent of sellers and even 97 percent of buyers were private individuals. The share of commercial or public providers, on the other hand, is declining.
A comparison of the years 2015 to 2019 with the period from 2019 to the end of 2024 shows a significant price development. The average square meter price rose from 475 to 853 euros – an increase of 80 percent. The highest prices are achieved in Ottakring, Döbling, and Donaustadt. Allotment gardens are cheapest in Liesing, Hietzing, and Floridsdorf.
Private Individuals Dominate Vienna's Allotment Garden Market
The market structure has been stable for years: Private individuals dominate both the buyer and seller sides. According to IMMOunited, the share of private sales has increased from 55 to 62 percent. Commercial or municipal providers like the city of Vienna are increasingly receding into the background.
"The increasing demand for allotment gardens highlights that the desire for nature and open space will play a central role in urban life both now and in the future," explained IMMOunited owners Roland Schmid and Valentin Bauer, Head of Operations, as part of the analysis. The significant price increase reflects both the emotional and economic value of these areas.
For the evaluation, allotment garden transactions from the years 2015 to 2024 with a total plot area of max. 1,000 m² were used. Districts not mentioned are due to an insufficient data basis. The evaluation was carried out according to the date of the purchase contract.
(Red)
This article has been automatically translated, read the original article here.