Buying an apartment in Vienna

Buy a commission-free apartment in Vienna

Buying an apartment in Vienna, whether as an investment or for personal use, is the wish of thousands of people every year. However, fewer new apartments are currently being built in Vienna (as of Q4/2024). So how can you still manage to buy a great apartment in Vienna?

Buying an apartment in Vienna for your own use

Buying an apartment in Vienna for your own use means you want to live in it yourself in the future. Apartments in old buildings in Vienna are particularly suitable for this purpose. Because apartments in old buildings can almost never be rented out freely, they are of less interest to investors. Private individuals who want to buy an apartment in Vienna and live in it themselves, on the other hand, have no problem with this tenancy law regulation. On the other hand, if you want to buy a new-build apartment in Vienna, you will have to reckon with slightly higher costs. On the other hand, new builds typically have modern heating, open spaces and lower running costs than old buildings.

Whether buying an apartment in an old building or a new build is the better choice is always a question of style and taste. As long as the condominium is not intended to be rented out, you can rely entirely on your gut feeling and your personal ideas of the perfect dream apartment in Vienna.

Buying an apartment in Vienna as an investment and for renting out

Investment apartments in Vienna are in high demand. Investors buy and sell real estate and the long-term rental of condominiums in Vienna is also popular. This is used to generate additional income or to provide for retirement. Apartments in good, central locations that are not in overly exclusive areas are particularly popular as investor apartments.

To ensure that the apartment is easy to let, 2-room apartments with balconies, for example, are ideal. Tenants can also usually be found quickly for 1-room apartments in Vienna, as demand from singles and students is high.

As rents for apartments in old buildings are strictly capped by the so-called "guideline rent" in the Tenancy Act (MRG), apartments in old buildings are much less suitable for renting out than apartments in new buildings. Although letting is of course possible and common, the legally achievable yield is often lower for an apartment in an old building than for a new build.

What does an apartment to buy in Vienna cost?

The cost of a condominium in Vienna varies greatly depending on the district. A second-hand apartment on the outskirts of the city can be found for around 4,000 euros per square meter. In the first district, on the other hand, prices can be five times as high.

A typical 2-room apartment with a balcony, for example in the popular residential district of Hernals, costs between 250,000 and 300,000 euros on average.

If you want to buy an apartment in Vienna that is in need of renovation, you will need to budget around 3,000 euros per square meter. Even cheaper properties are hard to find. In good locations, such as within the Gürtel, even apartments in need of renovation are sold for considerably more.

Buying an apartment in Vienna: Service charges

Apartment buyers should not underestimate the additional costs of buying an apartment in Vienna. On the one hand, there are the usual fees that arise with every purchase in Austria (land registry fee, etc.). On average, these additional costs, including notary and estate agent, are around 10 percent of the purchase price. Bear in mind that additional costs will be incurred if you take out a loan, as the loan security must be entered in the land register.

Ongoing costs must also be taken into account. Apart from the one-off ancillary costs and the general running costs, which are also known from rental apartments, there is a monthly contribution to the repair reserve for condominiums.

These costs, usually around 1 euro per square meter, are saved by the building community and used for repairs or other upgrades to the building. The property management company can provide you with precise information about the amount of the monthly repair reserve payment and the current status of the reserve before you buy an apartment in Vienna.

Vienna: Buy a commission-free apartment

Commission-free apartments in Vienna are always in high demand. However, it should be noted that estate agents also support the buyer when purchasing an apartment in Vienna. If the property is not sold directly by a private individual, the buyer's agent commission usually amounts to 3.6 percent gross, calculated on the purchase price of the condominium.

This fee therefore amounts to thousands of euros, which can be saved with a commission-free purchase. This is why commission-free apartments for sale in Vienna are particularly sought-after. Patience is often required to find an apartment for sale without commission - but it is worth it, as the potential savings are correspondingly high.

You will only find commission-free offers on our portal. Discover your commission-free apartment to buy in Vienna.