Vienna combines classical elegance and cultural excellence with an efficient modern infrastructure. Own an apartment in the Austrian capital and you have immediate access to historical perfection and splendid green parks, a medium-sized capital city with outstanding grandeur that offers convenient daily life in intimate wood-panelled cafes and beside riverside lakes.
So it’s no surprise that Vienna, the city at the geographical heart of Europe, has been named by The Economist Intelligence Unit as the most ‘liveable’ city worldwide for the second year running. And the city has become accustomed to these accolades: Vienna has topped Mercer’s Quality of Life ranking for ten consecutive years.
What makes Vienna so special? The Economist scored Vienna full marks for political and economic stability, healthcare, education and infrastructure. Crime rates are some of the lowest of any European capital, the quality of the air and drinking water is excellent and imperial architecture in the centre is matched by 700 hectares of vineyards on the outskirts.
“Vienna has traditionally been a predominantly domestic market with Austrians representing 80 to 90 per cent of all buyers,” says Alex Koch de Gooreynd, Partner and Head of Knight Frank’s Austrian Desk. “However over the past 10 to 15 years the number of international buyers has increased. These buyers are interested in purchasing smaller units for investment or as a pied-a-terre, somewhere with one, two or three bedrooms at most priced between €600,000 to €2,000,000.”
Vienna is divided into 23 Districts which spiral out from the centre with the 1st being the very heart of the city. Second home buyers focus predominantly on central Vienna, looking for a home that allows them to enjoy the city’s famous operas, concerts and theatres. That means being within walking distance of the classical grandeur of the 1st District, the fashionable boutiques of the intimate 5th and 6th and the Old Masters on show in Museum Quartier in the 7th District.
The 3rd, immediately southeast of the 1st, is a favourite choice. This green, upmarket area is a calm and family-friendly neighbourhood, home to traditional coffee shops, museums and the City Park.
Buying property in Vienna
Buyers looking for a close to nature residence will like the 19th which combines the best of city and rural life. Close to vineyards and set on green hillsides, the 19th has wonderful views over the city centre – a 20 minute car drive away – and is home to international schools and green parks.
“New developments offering homes with contemporary style and excellent services such as concierges close to good transport links are especially appealing to buyers,” says Mr Koch de Gooreynd.
“Parkapartments for example, originally designed by world famous architect Renzo Piano where apartments range in price from €280,000 to €2,600,000. The development is beside Vienna’s new railway station, tram and subway station and only 2 kilometres from the centre. The Embassy too, a development of one to three-bedroom contemporary apartments in the ever-popular 3rd District is super-central yet between two parks.”
Preserving the past while preparing for the future: Vienna, once home to cultural icons Mozart, Schubert and Klimt, continues to prove highly ‘liveable’ for 21st Century residents too.
For further advice on Vienna and properties for sale contact Alex Koch de Gooreynd, Head of Knight Frank’s Austria Network.