Otto Immobilien defines a villa as a one-family or multi-family home, mostly detached, corner or end-of-the-row building. It has a spacious garden and with no condominium ownership established. When taking inventory of the villas in the 18th and 19th Districts Otto Immobilien resorted to the Viennese Cadaster of Cultural Assets using the categories of detached villas and end-of-the row villas resp. villas on corner plots, as well as an in-house developed method and special categorization.
Here are some key stats from this research:
There are just under 3000 villas in the districts of Währing and Döbling 71% of which are in the 19th district and 29% in the 18th.
Since 2009, the prices have increased on average by 7.13 percent per year. The median* purchase price is currently above 2 million EUR.
Offers and Turnover:
Most villas are located in the cadastral communities Grinzing, Pötzleinsdorf and Neustift am Walde. These Villas account for 60% of the stock. On average, 40 villas are sold each year in Währing and Döbling. 2011 and 2015 showed the highest turnovers in recent years.
Since 2008, 325 villas in total have changed ownership with 83% of buyers coming from within Austria.
“Increasingly prospective vendors and purchaser are requesting data to supports decisions on the sale and purchase of villas in the 18th and 19th district”
Mag. Richard Buxbaum, head of the Department, Residential Real Estate and Zinshaus.
“Our research was conducted especially in this area because more than half of the existing villas are located in the 18th and 19th district”
Dr. Eugen Otto. Managing director of Otto Immobilien.
For further information on Vienna Villas, please contact us to request a full copy of the OTTO Immobilien Report of Villars.
Research carried out by Mag. Alexander Bosak MRICS, head of the department real estate research at OTTO Immobilien.
* Median Purchase Price: 50% of the villas were sold below the mean purchase price and 50% above it.