The Vienna real estate market has stabilised slightly after the first quarter of 2026. After a phase of subdued activity, the increasing improvement in financing conditions is providing more planning security and a cautious revival of the market. At the same time, supply – especially in the new construction segment – remains limited, which keeps the pressure on the housing market high and opens up attractive prospects for investors.
Vienna also holds its own in a European comparison in the commercial segment: low vacancy rates, stable rents and high demand for modern ESG-compliant space underline the quality of the location.
A key driver of Vienna's attractiveness is its international integration – especially with Germany. Daniel Trefferer, DAVE partner in Austria and Managing Director of Spängler Immobilien GmbH: "We see strong interest on both sides: Austrian investors are increasingly looking to Germany, while at the same time Vienna remains highly attractive for German investors. DAVE's presence in both markets allows us to provide targeted support for joint business and create added value for our customers."
Vienna benefits from its historical role as a multicultural metropolis and as an economic hub for Eastern Europe. This feature makes the city particularly interesting for foreign investors who are looking for both stability and access to high-growth markets.
This assessment is also shared by Thomas Portmann, Head of Transactional Services Arcadis, a leading provider of consulting, project management and engineering services and DAVE cooperation partner: "Vienna combines economic solidity with international networking and thus remains a sought-after location for real estate investments."
Looking ahead to the coming months, further stabilisation is expected. In many segments, a bottom seems to have been reached, so that selective investments are becoming increasingly attractive.
