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Vienna office market 2025: upswing despite vacancies and high costs!
New construction activities in Vienna will show a positive development in 2025 with an increasing supply of office space and sustainable projects.
Vienna office market 2025: upswing despite vacancies and high costs!
In the first half of 2025, the Vienna office market will show exciting, albeit challenging, developments. EHL Immobilien has published a comprehensive report that provides interesting insights into current trends and future prospects. Despite geopolitical uncertainties and a cautious approach by many companies that are staying in existing properties for the time being, the market is highly dynamic, especially with regard to new projects and planned new buildings. According to immobilien-redaktion.com, the rental performance amounts to around 77,500 m², which represents a decrease of around 20% compared to the previous year.
Due to the increased raw material and personnel costs, construction prices and rental prices have risen in recent months. The top rent in Vienna is currently 29.00 euros per m² per month, with a further upward trend. That's why many people wonder where the best locations are to get a good deal. Demand is clearly concentrated on well-developed business clusters with optimal transport connections.
New projects and their meaning
The projects due to be completed this year are particularly noteworthy. The highlights include:
- LeopoldQuartier OFFICE (ca. 24.000 m², Holz-Hybrid-Bauweise)
- CENTRAL HUB im TwentyOne (ca. 21.000 m²)
- VIENNA TWENTYTWO beim Donau Zentrum (ca. 24.000 m²)
- Refurbishment enna – the-work-life-building (ca. 22.500 m²)
- CARRÉ Muthgasse (ca. 13.000 m²)
A big trend is the focus on sustainable construction methods and meeting high ESG standards. According to die Presse, new building production will increase in the second half of 2025, increasing the market volume from 98,900 m² in 2024 to 107,400 m². This could help stabilize market conditions.
Fluctuation in the market and outlook
Despite the overall positive development, experts from Otto Immobilien show that not all new office space is rented quickly. Only around 20,000 m² of the new space for 2025 has so far been pre-let or owner-occupied. The vacancy rate rose from 3.3% to 3.5% and could rise slightly by the end of the year. But overall the rate of 3.5% still remains low, which shows that the need for office space remains high.
The most notable rental agreements in the first half of the year included 3,600 m² by an insurance company in Euro Plaza and 1,800 m² by a trading company in enna. These movements illustrate the interest in central locations and high-quality office space.
Many expect a market recovery in the near future, supported by stable interest rates and an upturn in investment markets. The expert look at the trends shows that innovative and sustainable office buildings as well as flexible working models will determine the face of the Vienna office market. Next year, for example, the DC2 Tower – The Place 2 Work 2 Live 2 Be awaits us with an impressive 37,000 m², which is considered the first office tower with an integrated photovoltaic facade.
Overall, one thing can be said: the Vienna office market is on the move. Companies are benefiting from a limited supply of high-quality space and an increase in new space production, which presents both risks and opportunities. Anyone who focuses on sustainable projects now and positions themselves well will certainly benefit from them in the coming years.