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Vienna-Landstrasse: Record apartment sold for 6.2 million euros!
Find out more about the sale of a 6.2 million euro apartment in Vienna-Landstrasse and the current real estate prices.
Vienna-Landstrasse: Record apartment sold for 6.2 million euros!
In 2022, a real estate sale in Vienna-Landstrasse caused a stir: an apartment changed hands for an impressive 6.2 million euros. The special property is located at Strohgasse 45, on the 3rd floor, and offers an impressive usable area of 352.77 square meters, divided into six rooms. The buyer, a private individual, signed the purchase contract on August 22, 2022, with the booking taking place in September of the same year. Vienna.at reports that, in addition to its spacious rooms, the apartment also has a loggia of 15.40 square meters and a balcony of 3.98 square meters, as well as a parking space.
Such high sales prices are not new in the Austrian capital, but they are part of a trend that has become clear in recent years: property prices in Vienna have risen. Loud immoverkauf24.at Real estate prices rose on average by more than 10 percent in 2022, which was primarily due to the corona crisis and historically low interest rates until the beginning of 2022. During the same period, rents remained relatively stable, with a current price per square meter of around 8.70 euros.
Current market development
But this boom could soon be a thing of the past. Experts have been observing a trend reversal in real estate price developments since mid-2022. Factors such as rising inflation and loan interest rates as well as new minimum standards from the financial market regulator for real estate loans are increasingly putting pressure on demand. Falling prices were already recorded in the city center of Vienna at the end of 2022, and this trend could also increase in 2023 if interest rates continue to rise and the number of home loans decline.
The average prices show a strong gradient depending on the urban area. The Inner City (Vienna 1) achieves prices of around 13,078 euros per square meter, while in Favoriten (Vienna 10) only around 3,567 euros are due. Average prices for condominiums are currently 4,905 euros per square meter and for single-family homes at 5,542 euros per square meter.
- Durchschnittlicher Quadratmeterpreis in Wien: 4.905 Euro
- Durchschnittlicher Quadratmeterpreis Einfamilienhäuser: 5.542 Euro
- Wien 1, Innere Stadt: ca. 13.078 Euro pro Quadratmeter
- Wien 10, Favoriten: ca. 3.567 Euro pro Quadratmeter
In view of these developments, it is advisable for many owners to contact a professional real estate agent when planning to sell their property. In an uncertain market environment, a professional valuation can help you achieve the best possible price and minimize the risk of loss.