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The Viennese Property Market

Vienna has been ranked the top city in the world for its quality of life for the past seven years and voted the world’s most liveable, prosperous and culturally innovative city. It is also steeped in a tremendous legacy of music, art and philosophy, which has lead it to become known as the City of Mucic and – thanks to its on-time resident Sigmund Freud – the City of Dreams.

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Properties in Vienna – typically villas or condos in the 19th, 18th and 13th districts – are usually priced at around €10,000- €15,000 per sq m. Growing instability around the world is focusing buyers’ attention on cities such as Vienna. Germany is the economic powerhouse, but Vienna offers a secure investment along with the charm, history and cultural allure of Paris – yet on a small scale and with lower cost of living.

For a relatively small city, with a population of 1.8 million, Vienna punches above its weight. The scales and opulence of its period architecture is out of all proportion with the city’s size. It has museums that compete with Paris. But is identity is not all entrenched in the past. There is a new energy to developing areas along the Danube that are seeing the construction of modern residential towers and eco-friendly villas.

As the city becomes even more international, the outlook of the Viennese is being more open and cosmopolitan. We see the city becoming more like London and New York over the next 10 years, and that international influence is talking root in aspects of Viennese culture from cuisine to couture.

High quality of life, low cost of living – and a home to wine, music and historic beauty on every corner : no wonder they call it the City of Dreams. For more information, please see our Inside View Austria.