Real Estate in Vienna, Austria
Last updated on Apr 17, 2024
Summary: The average cost of a nice 2 bedroom home in Vienna, Austria is around €400,000, while a nice 3 bedroom home is around €500,000. These properties typically include modern amenities such as central heating, air conditioning, and high-end appliances. Some may also include a balcony or terrace. Foreigners are allowed to purchase property in Vienna, but there are certain restrictions. For example, non-EU citizens must obtain a residence permit before they can purchase a property. When searching for a home to buy in Vienna, an expat should consider their budget, desired location, and the type of property they are looking for. It is also important to research the local market and consult with a real estate agent. The most desirable neighborhoods in Vienna include the 1st District (Innere Stadt), the 9th District (Alsergrund), and the 19th District (Döbling). These areas are known for their high quality of life, excellent public transportation, and proximity to parks, restaurants, and other amenities.
How do I find a place to live in Vienna?
We asked expats how they chose their neighborhood and found a place to live. They answered:
"If you are seeking a place to live in Vienna, you may want to begin by researching popular neighbourhoods, such as the 7th District which is known as Neubau and is home to many of the city's art spaces and bars. A great place to start is Wohnungsmarkt.at, which allows users to search for apartments in a variety of Vienna's neighbourhoods and compare prices. Additionally, WG-Gesucht.at is another popular website in Austria that helps match tenants to rental properties. Once you have narrowed down your search, you can meet with landlords or real estate agents to arrange a viewing in person. Be sure to also explore government-subsidised housing for students, interns and refugees as well as short-term furnished rentals," remarked one member in Vienna, Austria.
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What is a typical expat home or apartment like in Vienna?
"Expat homes and apartments in Vienna are often situated within the city's inner districts which offer a unique blend of hip, modern style, historic grandeur and centrality. Expat apartments typically feature open plan living spaces, with plenty of natural light and contemporary amenities. High ceilings, parquet or tile flooring, tiled bathrooms, and balconies are also common features in expat apartments in Vienna. The majority of properties are situated in neighbourhoods that are easy to access by public transport," explained one person living in Vienna, Austria, Austria.
What is the average cost of housing in Vienna?
If you are thinking about moving to Vienna, cost of living in probably a key consideration. Expats commented about the cost of housing:
"The cost of housing in Vienna is generally quite high, with the average rentals for apartments ranging from about 900 EUR to 1600 EUR per month for a one-bedroom apartment and from 1,200 EUR to around 2,100 EUR for a two-bedroom apartment. Many apartments also come with additional fees such as a utility charge and a furnishings fee. Additionally, buying a home in Vienna is not a cheap endeavor; the median price of a home in Vienna as of May 2019 was 5,360 EUR per square meter," said one expat who made the move to Vienna, Austria.
Should I buy or rent a home in Vienna?
If you have not spent a lot of time in Vienna, you should rent before even thinking about buying. We asked expats there about the buy vs. rent decision:
"Whether one should buy or rent a home in Vienna depends entirely on the individual's personal and financial situation. Buying a home in Vienna may provide more stability for those looking for a permanent place to live, as well as potential appreciation in the value of the home. On the other hand, renting can be a more flexible and cost-effective option that could offer some advantages, such as avoiding the hassle of necessary home maintenance and repairs. Ultimately, the decision of whether to rent or buy in Vienna should be based on individual preference and what best serves the individual's specific needs," remarked one member in Vienna, Austria.
What do I need to know when buying property in Vienna?
When we asked expats what advice they would give a foreigner before buying a property in Vienna, they said:
"1. It is important to research the area you are interested in buying property in Vienna, to ensure it is the right fit for you. 2. Make sure to familiarize yourself with the local laws and regulations regarding property ownership in Vienna, Austria. 3. Consider the cost of living in Vienna, Austria, and make sure you can afford the property you are interested in. 4. Hire a local real estate agent to help you navigate the process of buying property in Vienna, Austria. 5. Make sure to get a professional inspection of the property you are interested in buying to ensure it is in good condition. 6. Consider the taxes and fees associated with buying property in Vienna, Austria, and make sure you can afford them. 7. Make sure to get a lawyer to review any contracts or documents related to the purchase of the property. 8. Be aware of any restrictions or limitations on the use of the property you are interested in buying. 9. Make sure to get a title search done to ensure the property is free of any liens or encumbrances. 10. Consider the long-term implications of buying property in Vienna, Austria, and make sure it is the right decision for you," explained one foreigner living in Vienna, Austria.
Are foreigners allowed to own property in Vienna?
When we asked expats what advice they would give a foreigner before buying a property in Vienna, they said...
"Yes, foreigners are allowed to own property in Vienna. However, the process may be more complicated for non-EU citizens, as they may need to obtain a permit from the local authorities before purchasing property. This permit is granted on a case-by-case basis, taking into consideration the buyer's nationality, the type of property, and its intended use. It is advisable for foreigners to consult with a local real estate agent or legal expert to navigate the property acquisition process in Vienna," said one person in Vienna.
What appliances are typically included in a rental?
We asked foreigners in Vienna what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included:
"Rental properties in Vienna typically include a refrigerator, stove, oven, dishwasher, washing machine, and dryer. Additionally, some properties may include a microwave, toaster, and coffee maker," explained one expat in Vienna.
Additional Information about Searching for a Home in Vienna:
We asked foreigners in Vienna what appliances are typically included in a rental, and, if there is anything else included or not included that a newcomer would not expect. Replies included...
"Expats searching for homes in Vienna typically begin by researching the various districts and neighborhoods to determine which area best suits their needs and preferences. They may consult online resources, such as expat forums and social media groups, to gather information and recommendations from fellow expats. Once they have identified a preferred area, expats often use local real estate websites and online classifieds to browse available properties. They may also engage the services of a local real estate agent who is familiar with the market and can help them navigate the process of finding and securing a suitable home. In addition to online resources, expats may also explore their chosen neighborhoods in person to get a feel for the area and identify any potential properties for rent or sale. They may attend open houses or schedule private viewings with property owners or agents. When searching for a home in Vienna, expats should consider factors such as proximity to public transportation, schools, and amenities, as well as the overall cost of living in the area. They may also need to familiarize themselves with local rental and property purchase regulations, as well as any specific requirements for expats, such as obtaining a residence permit. Finally, expats should be prepared to negotiate rental or purchase terms and may need to provide various documents, such as proof of income and references, to secure a home in Vienna," said one person in Vienna.
About the Author
Betsy Burlingame is one of the founders of Digital Nomad Exchange and the Founder and President of Expat Exchange. She launched Expat Exchange in 1997 as her Master's thesis project at NYU. Prior to Expat Exchange and Digital Nomad Exchange, Betsy worked at AT&T in International and Mass Market Marketing. She graduated from Ohio Wesleyan University with a BA in International Business and German.
Some of Betsy's articles include 12 Best Places to Live in Portugal, 7 Best Places to Live in Panama and 12 Things to Know Before Moving to the Dominican Republic. Betsy loves to travel and spend time with her family. Connect with Betsy on LinkedIn.
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