The past two years have been marked by crises. Inflation and price increases are felt everywhere. Except for the Viennese villa market, which has set new sales records.
While the majority of Viennese have to think about where they can still save, some have enough money for a luxury home on the outskirts, as Otto Immobilien’s current Viennese villa report shows. Despite inflation and rising prices, there is little sign of the crisis there.
In Währing alone, villas with a transaction volume of 77 million euros changed hands in 2021. This is an increase of 88 percent compared to the previous year and is even above the pre-crisis level. The most expensive villa was sold for 22.5 million euros.
Record sales even at the height of the pandemic
But the luxury real estate market is also flourishing in the chic Döbling district. 50 villas – the most expensive was 11.8 million euros – were sold last year for a total of 196 million euros. According to Otto Immobilien it was an absolute record year. The 19th arrondissement was generally unaffected by the Corona crisis.
Particularly curious: Hernals even managed to record 2020 as an absolute top year. At a time characterized by short-time working, lockdowns and economic malaise, 46 million euros was booked on the villa market. In 2021 that was ‘only’ 33 million euros in the classic Viennese suburb.
Longer reflection time? Not for everyone.
But don’t worry: “Demand is still good, there is a lot of demand for living on the land,” says department head Sonja Kaspar of Otto Immobilien. And what about the cheap housing market? “Demand is stable. However, due to the current situation with war and Corona, customers have to think about it longer.”
In case someone in the fortunate circumstance does not have to think twice: a villa in Döbling is currently for sale for 19.9 million euros.
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.
