Investing in Austria
The 5 main reasons for buying an apartment house:
Currently, the population of Vienna is almost 1.9 million (about 2.6 million including suburbs), which makes up about 25% of the total population of Austria. In all probability the city will exceed the 2 million inhabitants mark in the next few years. Vienna’s current housing stock comprises about 1 million apartments. Almost two thirds of them (633,000) are occupied by tenants (this is almost half of all rented housing in Austria). As the population grows, the demand for rental housing is increasing correspondingly.
Under these circumstances, multi-family houses (apartment buildings) with flats and apartments for rent represent a large, dynamic market. There are about 15,000 classic apartment buildings in Vienna. This is about 90% of all apartment buildings in Austria. Every year about 500-600 changes of ownership of apartment buildings are registered in the capital city.
The market for apartment buildings is constantly increasing. According to various expert estimates, the annual volume of business dealings with apartment buildings averaged € 1 – 1.4 billion over the past three years. In 2019, the largest volume of business to date was recorded at € 2,23 billion, or 516 apartment houses.