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The top 10 most promising districts in Vienna to purchase real estate

The most promising Vienna districts for foreigners to buy real estate are Innere Stadt, Leopoldstadt, Landstrasse, Dobling, and others. Their economic and tourist appeal.

Updated 02/23/2024

October 19, 2020

We have compiled a selection of Vienna's most prosperous neighbourhoods that are suitable for foreigners to buy property both for living and for investment.  You will be able to familiarise yourself with the infrastructure of each district, their economic and tourist attractiveness and the average cost of housing as of the first quarter of 2024. 

The Austrian capital is divided into 23 districts. Foreigners primarily choose to live in the 1st, 4th, 6th, 7th, 9th, 18th and 19th districts of Vienna. Those looking for more affordable options prefer the 23rd district. A flat in the 1st district of Vienna will suit those who value prestige and want to live in the very centre of the city surrounded by some of the world's most renowned sights and attractions. Families with children who want to live in a private home near an international school tend to buy real estate in the 18th and 19th districts.

1st District – Innere Stadt

Innere Stadt is the historical, tourist and commercial centre of Vienna. This area is recognised as a UNESCO World Heritage Site and the most famous places in Vienna can be found here:

  • Vienna State Opera (Wiener Staatsoper);
  • Albertina Gallery (Albertina);
  • Vienna City Hall (Rathaus der Stadt Wien);
  • St Stephen's Cathedral (Domkirche St. Stephan);
  • Hofburg Palace (Hofburg);
  • Art History Museum Vienna (Kunsthistorisches Museum Wien).

The 1st district is also home to the wide pedestrian street, Kärntnerstrasse, which is lined with luxury shops and Michelin-starred restaurants. In addition to sightseeing and entertainment, the neighbourhood is full of offices and social infrastructure facilities such as hospitals and prestigious educational institutions, including the main building of the Universität Wien (University of Vienna).

Vienna is a very compact city – you can reach the border in any direction in just 30 minutes.

Innere Stadt is the most popular and desirable location for luxury home buyers who are interested in the culture and history of the city and want to live up close and personal to the iconic attractions and entertainment. 

The most expensive properties in the Austrian capital can be found here, as the average price per square metre in Innere Stadt is EUR 19,240.

2nd District – Leopoldstadt

Leopoldstadt is a large district with a multicultural atmosphere on the north side of the Danube Canal bordering the city centre. It is home to the famous Prater and Augarten parks, as well as several museums, many restaurants, cafés and bars, and the popular Karmelitermarkt market. The neighbourhood attracts many students, as the Wirtschaftsuniversität Wien (Vienna University of Economics) is located here.

It is possible to get to the city centre in just 10-15 minutes by metro or car, or in about half an hour on foot. The cost of housing here is half that of Innere Stadt, averaging EUR 7,918 per square metre. Here you can find different property options - from modest studios to luxurious penthouses and everything in between.

3rd District – Landstrasse

Landstrasse is the diplomatic centre of the city where the embassies and consulates are located. It is an attractive residential area that is close enough to be able to walk to Innere Stadt in just 20 minutes, while going there by car or public transport takes about 10 minutes.

The neighbourhood is distinguished by its elegant homes, chic hotels and expensive restaurants. It is home to such popular attractions and leisure destinations as:

  • The 18th century Baroque palace ensemble and luxurious Belvedere garden; 
  • Vienna's largest shopping centre, Wien Mitte The Mall;
  • Military History Museum (Heeresgeschichtliches Museum);
  • Kunst Haus Wien — Museum Hundertwasser;
  • the Danube Canal embankment;
  • The large Rochusmarkt market.

Landstrasse has the Wien-Mitte railway station, which offers a direct train to the airport. A flat in Vienna's 3rd district is an optimal choice for business people and those who travel frequently. Families with children will appreciate the wide range of kindergartens and schools available here. 

There is a wide range of property types here - from apartments to detached houses. The average cost of residential property in Landstrasse is EUR 8,204 per square metre.

6th District – Mariahilf

Mariahilf borders the central district on the western side. It is located to the north of Mariahilferstrasse, the city's main shopping street that runs from Innere Stadt to Penzing. This street is very popular with young people and shoppers, and features flagship stores by famous international brands, as well as lots of trendy cafés.

The eastern part of the 6th district, near Lastenstrasse, is a bohemian quarter with elegant apartments and studios. This area is the heart of Vienna's nightlife, offering a wide range of hip bars and restaurants.

The Haus des Meeres, an oceanarium with 10,000 species of sea and plant life, Vienna's first musical theatre, Raimund Theater, and several museums can all be found in the 6th district. 

The neighbourhood is a great choice for families with children as there are small parks, schools, hospitals and playgrounds nearby. The city centre can be reached by car or public transport in just 15 minutes.

Housing in the Mariahilf district starts at an average price of EUR 7,901 per square metre. 

7th District – Neubau

Neubau borders Innere Stadt and has quite a lot in common with the 6th district. It is located along the Mariahilferstrasse shopping street and has a good reputation as a trendy district, with excellent nightlife and cultural events. It features upscale restaurants, bars and clubs.

Art lovers will find plenty of things to do in the 7th district. The Museum Quarter is home to a wide range of cultural sites, such as the famous Leopold Museum, where you can see works by Gustav Klimt and Egon Schiele.

The social infrastructure here consists of several well-regarded kindergartens.

The average price per square metre in Neubau is EUR 8,868.

9th District – Alsergrund

The 9th district of Alsergrund is often referred to as the student and doctor district. It is home to the famous University of Vienna (Universität Wien) campus, the Medical University of Vienna (Medizinische Universität Wien), many hospitals, including the Allgemeines Krankenhaus (AKH) der Stadt Wien, and many schools and kindergartens.

This neighbourhood is lined with picturesque cobblestone streets and offers many historical and cultural sights to visit.  The most notable ones are the Sigmund Freud Museum, located in the famous psychotherapist’s former flat, and the Votivkirche, a Catholic church dating back to the late 19th century. 

Alsergrund also borders the 1st district and is located just north of the centre – it can be reached in 15 minutes by car or 25 minutes by public transport. If you prefer to walk to Innere Stadt, it will take just over half an hour.

You can buy a property in Alsergrund for an average price of EUR 8,420 per square metre. 

13th District – Hietzing

The 13th district, located in the west of Vienna, is the ideal place for those who want to live a quiet and measured life surrounded by picturesque old buildings, nature and parks – green spaces cover more than 70 percent of the area. The Lainzer Tiergarten is Vienna's second largest park after Prater, and offers hiking trails, an observation tower, museums and a restaurant. Another popular attraction is the former summer residence of the emperors – the lavish 18th-century Schönbrunn Palace (Schloss Schönbrunn) with its gardens and labyrinth.

There are many office buildings, schools and kindergartens in the area. It takes half an hour by car or 45 minutes by public transport to get from Hietzing to the centre of the capital.

Families with children will find plenty of spacious property options here, with both apartments and detached houses available for purchase. This elite neighbourhood is particularly famous for its old luxury villas. The average price per square metre in the 13th district is EUR 8,349, while residences that are 130 sq. m or bigger will see prices around EUR 11,102 per square metre. 

18th District – Währing

Währing is a prestigious neighbourhood with luxury real estate located in the north-west of the city next to the Vienna Woods. It is one of the greenest districts in the city as it is home to the Pötzleinsdorfer Park with English-style landscaping, Türkenschanzpark, Schubertpark and Währingerpark.

The area has an excellent infrastructure with a wide range of theatres, restaurants and traditional wine taverns. One of the most popular local attractions is the gorgeous Geymüllerschlössel Castle. The centre of the capital can be reached in 20 minutes by car or half an hour by public transport.

The 18th district is an ideal location for families – the neighbourhood is home to many educational institutions, including the prestigious Amadeus International School Vienna.

Währing is part of the Cottageviertel village and features some of the most expensive housing in Vienna. In addition to charming period villas there are ultra-luxury residences and apartment complexes in both new and historic buildings.

Währing is the second most expensive district after Innere Stadt in terms of price per square metre, reaching an average of EUR 9,683.

19th District – Döbling

Döbling is another upscale family neighbourhood that offers premium country living. To the west, it borders the picturesque hills of the Vienna Woods, which is famous for its vineyards and wineries and is the perfect place for a leisurely stroll. 

The Grinzing and Nussdorf neighbourhoods are known for their ancient taverns serving local young wine. Popular attractions in Döbling include the Kahlenberg and Leopoldsberg mountains, which have lookouts offering stunning views of the city. The Wien Museum Beethoven Museum, which operates in the composer's former flat, is also located here. 

The 19th district is located northwest of the centre of Vienna – you can reach the 1st district in 20 minutes by car or in 35-40 minutes by public transport.

Döbling is particularly popular with families due to its many international schools, such as The American International School Vienna. You can buy any one of the spacious villas here surrounded by greenery and tranquillity – the perfect environment to live in with your children.

The 19th district is third highest in terms of property prices. The average cost is EUR 8,946 per square metre. 

23rd District – Liesing

Liesing is a large district with affordable real estate located to the south of the capital in the outskirts of the city. It has residential, industrial and commercial real estate for purchase. There are also old houses, vineyards, orchards and woodlands. This area has high investment potential thanks to the large amount of land available for development.

Liesing is home to many Heurigens, or traditional Austrian taverns. The most famous sights in the 23rd district are the Trinity Church (Kirche Zur Heiligsten Dreifaltigkeit), with its original architecture, and the stunning Schloss Lieser castle.

You can quickly reach other picturesque towns close to Vienna from the 23rd district. The spa towns of Baden and Bad Vöslau, and the quaint villages of Perchtoldsdorf and Medling are just a few examples. 

Westfield Shopping City Süd (SCS), one of Vienna's largest shopping centres, is just 10 minutes away by car, and offers a wealth of shops and entertainment.

Thanks to the green areas and several available schools, the 23rd district can be a good option for families with children. Innere Stadt can be reached in 25 minutes by car or 30-50 minutes by public transport.

The price of one square metre in Liesing is EUR 5,835.

Conclusions

Vienna's best districts can be found in close proximity to the city centre. The most prestigious district with the most expensive real estate is the central Innere Stadt, where many of the iconic landmarks and business centres are located. The second and third most expensive districts are Währing and Döbling, respectively. These are Vienna's prime neighbourhoods for families with children due to the many green areas and prestigious international schools in the vicinity. The most budget-friendly option is the 23rd district of Liesing. This can also be an excellent choice for families and for professionals who work in the industrial areas located here.

Every district in Vienna has an excellent public transport network, so even the most remote areas are still less than an hour from the city centre. If you choose to go by car, the drive to the centre of Vienna will take no more than half an hour. 

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Evgeny Pilnikov
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