The city of Vienna is Austria’s largest landlord and developer. But without the millions from the housing budget, rents would skyrocket.
Rents in Vienna are among the lowest of all major European cities. But the city is growing and the demand for housing is increasing – when it is scarce, prices also go up. New housing therefore has a positive effect on rental growth. In Vienna, however, this is not only realized by private real estate developers, but to a large extent also by the city itself together with partners.
Innovative residential areas
Nearly 11,000 social apartments are currently being built. About 3,700 of these are smart apartments tailored to the needs of the younger generation. An average of 4,000 to 5,000 units come onto the market every year. The city spends more than 450 million for this alone. A few examples – see photos.
Half a billion euros for renovations
One of the city’s international unique selling points is Vienna’s municipal housing. About a quarter of a million people live in the 220,000 apartments. But many of them are years old and need to be renovated. Thermal-energetic renovation measures are currently being taken on about 50 municipal construction sites – with more than 10,000 rental homes and a total volume of about 570 million euros.
One of the major renovations in progress is, for example, B. the Mautner-Markhof-Gasse 10 residential complex. The renovation should reduce the heating requirement by approximately 79%.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
