Is there an apparent tendency away from office space and towards living space in inner-city districts?
This is certainly the case: Demand for quality high-rise living space in Vienna is becoming stronger all the time. This is why many old buildings which previously held office space are being turned into residential properties, which can then be sold or rented at a very good price. Since the number of properties in the inner districts can’t be increased at developers’ discretion, the creation of luxury and single properties in this area is especially attractive. The demand for living space in Vienna in the next several years and decades will continue to rise, not least due to the growing number of single households and continuous numbers of new rentals. In addition, many office buildings from the 50’s and 60’s have been torn down in order to make space for new quality buildings. And not every one of these old office buildings is replaced with a new one; many new residential properties are being built.
