Which Vienna districts cost what, how old buildings (Altbau) differ from new builds, how the Richtwert rent system limits income, and what suits an owner-occupier or an investor.
Vienna is the largest and deepest property market in Austria and the one most foreign buyers start with. Prices differ more between districts and between old and new buildings than between "Vienna" and the rest of the country, and the rent rules decide how much a flat can earn. This guide sets out the price levels, the districts, Altbau versus new build and the Mietrecht basics as of October 2026. For the national price picture see Austrian property prices and buying costs.
Price levels in Vienna
Be careful which number you read. Statistik Austria, which uses real transactions, reports a median of about 5,212 euro per m² for flats in Vienna in 2025, the highest of any state, against about 4,162 euro for Austria as a whole. Listing-portal figures are higher because they are asking prices: ImmoScout24 reported a Vienna median of about 6,615 euro per m² for the first half of 2025. For the first quarter of 2026, one analysis based on Otto Immobilien data puts new builds at just under 7,300 euro per m² and existing flats at about 4,536, with 1,254 flat transactions in the quarter, about 25% more than a year earlier.
Treat asking prices as the ceiling and transaction medians as what buyers actually paid, and expect to negotiate on resale flats.
Districts (Bezirke)
Vienna has 23 districts. As a rough map, based on 2025 asking prices reported from ImmoScout24:
- Innere Stadt (1st): by far the most expensive, around 16,400 euro per m²
- Wieden (4th) around 9,700, Alsergrund (9th) around 8,700, Döbling (19th) around 8,600, Neubau (7th) around 8,200; Mariahilf (6th), Hietzing (13th), Währing (18th) and parts of Josefstadt (8th), Landstraße (3rd) and Leopoldstadt (2nd) are also in the upper tier
- The cheapest districts in the same reporting are Simmering (11th), Favoriten (10th), Floridsdorf (21st) and Donaustadt (22nd); we did not find a current, reliable per-district figure for them, so check current listings
Within a district the building matters more than the postcode. In one Statistik-based analysis a pre-1960 flat in Favoriten cost about 3,000 euro per m² while a new build in the Inner City cost about 9,500. When you compare, compare like with like: age, floor, lift, outdoor space and the state of the building.
Altbau versus new build
- Altbau (older building, often Gründerzeit): high ceilings, character and central locations; lower price per m² in many districts, but renovation, the state of the building's common parts and the reserve fund (Rücklage) need a careful look. Rents in many of these buildings fall under the regulated system described below.
- Neubau (new build): modern standards, energy efficiency, often a balcony and a parking space; higher price per m², fewer rent restrictions, but check the developer, the completion date and the payment plan (see how to verify a developer abroad).
For an owner-occupier the question is mostly lifestyle and running costs; for an investor it is rent regime, price per m² and vacancy risk.
Rental regulation: Mietrecht and the Richtwert
Rental law (Mietrechtsgesetz, MRG) decides how much you may charge. Where it applies in full, which mainly covers older rental buildings, rent is limited to a reference rent (Richtwertmietzins) plus allowed surcharges and deductions for the flat's features. We saw the Vienna Richtwert quoted at about 6.74 euro per m² per month net from 1 April 2026, but the surcharges are what produce the actual rent, so the figure alone does not tell you the rent. The cut-off dates for which buildings are covered differ by rule (sources mention 1945 and 1 July 1953), so ask your lawyer which regime applies to the exact flat.
Two other points matter. Fixed-term leases carry a mandatory discount of 25% on the calculated rent, reported by one source, which affects how you plan the letting. And the rent brake adopted in 2026 limits increases of regulated rents, 1% for the adjustment in April 2026 and 2% reported for 2027, with annual rather than two-yearly adjustment. New builds and freely agreed rents have more room, but are still limited by general rules. Confirm every figure with a local lawyer before you rely on it.
The investor angle
Market averages suggest gross yields in Vienna of roughly 3% to 5% depending on flat size and source, and about 2% net after costs and tax; one of the sources puts the typical net rent at about 16.40 euro per m² per month. Small flats of up to around 50 m² are the most liquid and tend to earn the most per m². Since 1 July 2024, commercial short-term letting in residential zones is banned in Vienna, so the holiday-rental route is effectively closed. For the numbers and a worked example see rental yield in Austria, and compare strategies in short-term versus long-term rental.
Buying as a foreigner in Vienna
A buyer from outside the EU needs a permit from the municipal department MA 35 before the land register entry, and EU citizens need a confirmation that no permit is required. The costs add about 10% to 12% to the price, including 3.5% transfer tax and 1.1% land register fee. All of that is explained in our guide to buying property in Austria as a foreigner.
For Russian-speaking buyers and expats
Vienna is the Austrian city where Russian-speaking buyers will find it easiest to get help in their own language: lawyers, agents, translators and community services that work in Russian. Check each person's credentials and their independence from the seller (see Russian-speaking communities and services by country). Opening an account as a non-resident requires documents and source-of-funds evidence (opening a bank account abroad as a non-resident owner). If you plan to move children to Vienna, state schools are German-language, with private and international alternatives; choose the district with schooling in mind. Buyers holding a Russian passport should read buying property abroad with Russian citizenship for the compliance side.
FAQ
Which Vienna districts are the cheapest? Reports name Simmering, Favoriten, Floridsdorf and Donaustadt, but check current listings because averages hide wide differences between buildings. What is the average price per m² in Vienna? About 5,212 euro for flats in 2025 by transaction median (Statistik Austria), and about 6,615 euro by asking price in the first half of 2025. Is Altbau or new build better? Altbau offers character and lower prices but regulated rents and renovation risk; new builds cost more per m² and are simpler to let. Can I rent my Vienna flat on Airbnb? Not as a commercial business in residential zones since 1 July 2024. How much can I raise the rent? For regulated rents the increases are capped, reported at 1% in April 2026 and 2% in 2027; ask a lawyer about your lease.
How we help
We are a trilingual platform (English, Russian, Polish) that finds properties and coordinates independent local lawyers and tax advisers in Austria. Browse the current listings in Austria and use the calculators to model costs and yield. This text is informational and is not legal, tax or investment advice; rent rules and prices change, so verify them for your flat.