In Vienna, housing demand continues to grow. The trend for rental of apartments is likely to intensify. For the first time in 2020, more freely rented housing for rent can be completed as a living space. This is the result of CBRE's real estate service provider.
A total of 12,000 residential units will be built in Vienna in 2018, which is 72% more than in 2017, the consulting firm said on Wednesday. 2019 should be built at roughly 2018 levels. For 2020, 15,500 new residential units are planned.
In 2018, property and pension apartments with 48% of all completed apartments remained dominant. But this has to be relativized over the next two years, experts say. Currently, the strongest growth segment is free rental financing, where more than three times more apartments were completed this year than in the past year.
The smaller apartments are modern
Most of the new buildings are in CBRE's surveillance and forecasts from 2017 to 2019 in the region's southeast (11,800 residential units), and in the northeast (9,800) where rents are from 9.50 to 13 EUR per square meter and the month is the lowest. Rents are highest in the inner quarters and in the residential area – ie. in the areas of the Vienna Forest – an average of 12,50 to 16 euros per square meter per month. However, there is also the smallest construction there – for the period from 2017 to 2019, there will be only about 1700 new residential units in residential areas, say consultancy firms. The trend over the next few years to smaller apartments.
With an average of 36.7 square meters per capita, according to Austria's statistics, Viennese residents had a similar living space in 2017 as ten years ago. The same applies to the number of rooms – 3.3 rooms – to the average of 74.6 square meters of apartments in Vienna, which will be occupied by an average of two people. The new apartments in Vienna have an area of 65 square meters.
According to the CBRE, nearly 905,000 apartments in Vienna are mainly occupied (ie almost 77%) for rent. Most of these rentals are regulated.
(APA / red).