Serviced apartments are in demand in Vienna thanks to the tourism sector

The number of serviced units keeps on growing in the Austrian capital.
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PUBLISHED 31.07.2023
The complexes for short-term living usually have small-sized properties, communal areas, fitness rooms, laundry rooms, and kitchens. The apartments come furnished and can be rented for a minimum of EUR 800 per month. You can also use them for shorter stays from EUR 80-100 per night.

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Many of these types of properties are constructed in Vienna each year and the trend keeps on going. The developer C&P will bring 1,000 serviced apartments onto the Viennese market over the course of the next several years as part of The Port development. The first phase, with 300 units, is scheduled to be released by 2026. The Port will house not only serviced real estate, but also co-living apartments with their own kitchen. The size of the properties will range from 18 sq. m to 35 sq. m.
Serviced units are in particularly high demand among expats who are sent to the city for a few weeks or months. Another target group is individuals from the outlying regions who only live and work in the capital during the week. There are also Austrians who take advantage of serviced apartments after separating from a spouse or during the renovation of their own property, for instance.

According to Michael Widmann, a member of the consulting firm PKF and currently involved in the development of The Port, the living needs of young people have drastically changed. Many of them opt to rent a serviced apartment instead of a little country house far from all social facilities. It is a great option for people who haven't decided yet how and where they wish to settle down. In fact, there are young people who move to a new area within the capital every few months to explore living in different parts of the city.
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Evgeny Pilnikov,
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