Rising Rents in Vienna: How Immoscout24’s Data Reveals Differences in Demand and Price Increases Across the City
Rental apartments in Vienna have seen a 11 percent increase in asking prices within the past year, according to Immoscout24. This trend was particularly evident in the first quarter of 2024, with rental apartments being offered for 11 percent more than in the same period last year.
The median average price for rental apartments is currently 18.7 euros per square meter, and landlords are experiencing a 26 percent increase in demand. However, there are significant differences depending on the district. For instance, rental apartments in Brigittenau, Ottakring, and Simmering have only seen a price increase of up to 3 percent, according to Markus Dejmek, the Austria head of Immoscout. In contrast, Hietzing saw a price increase of around a quarter to 19.5 euros per square meter while Favoriten increased to 19.8 euros per square meter.
Other districts such as Josefstadt, Donaustadt, Margareten, and Penzing also 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 while Rudolfsheim is the cheapest offer at 14.5 euros per square meter followed by Ottakring and Hernals.
Immoscout24 data shows that demand for rental properties increased by 26 percent compared to the previous year with Mariahilf and Floridsdorf seeing an over-50 percent increase in demand while rental apartments in Brigittenau and Wieden were less sought after.
