CERCLE DIPLOMATIQUE - issue 01/2016

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CD is an independent and impartial magazine and is the medium of communication between foreign representatives of international and UN-organisations based in Vienna and the Austrian political classes, business, culture and tourism. CD features up-to-date information about and for the diplomatic corps, international organisations, society, politics, business, tourism, fashion and culture. Furthermore CD introduces the new ambassadors in Austria and informs about designations, awards and top-events. Interviews with leading personalities, country reports from all over the world and the presentation of Austria as a host country complement the wide range oft he magazine.

SAVOIR VIVRE LIVING TRENDS

„Die große Nachfrage nach Luxusimmobilien in Wien wird es noch

geben, jedoch nicht den Preisanstieg der letzten Jahre.“ „The great

demand for luxury real estate will still be there in Vienna, however not the

price rise of the last years.“ Baris Basaran, Expat Consulting

EXPAT

CONSULTING

Trend Stadtvilla

Urban villa trend

Mit knapp 1.000 m2

Wohnfläche, eingebettet in

einen hauseigenen Park, ist

diese Villa im 19. Bezirk ein

Vorzeigebeispiel für familiäre

Luxusansprüche.

This villa in the 19th district,

with just under 1,000 m2

living area, has its own park

and is a prime example of a

family‘s luxury expectations.

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arabischen Ländern, die sich für 1A-Lagen in sicheren

Ländern entscheiden. Einige davon in Verbindung

mit aktuellen Möbeltrends finden Sie auf diesen

Seiten.

When talking to local property experts, a

positive trend becomes apparent. Prices

have remained at a constantly high level,

buyers no longer have to fork out record amounts if

they choose to purchase long-term luxury property.

Supply tends to be greater than demand, whereby the

opposite is still the case for central locations. The

highest level of appreciation is to be expected with

trendy luxury accommodation such as penthouses,

lofts and maisonettes. Vienna has become more dynamic

in this respect compared to the previous year.

A survey carried out by property expert Remax reveals

how many properties in Austria fall into the

luxury property category in general. With about 4%

of all flats sold in the price range above 500,000 euros

and 6.5% as single family homes, this is still a very

small segment. This niche market is limited to just a

few districts, holiday regions, lake areas and Kitzbühel

– because of its proximity to Munich.

Image set straight

Innere Stadt, Hietzing and Döbling are very important

districts for premium property. Specific “micro

neighbourhoods” in Vienna also often influence

the purchase price. When it comes to luxury property,

Baris Basaran, a property and relocation agent at

Expat Consulting, sees the federal capital‘s image as

positive. “Vienna has caught up very strongly in the

last few years as it is also very popular with buyers

because of its historic buildings, various cultural

events and the excellent quality of life. But when

compared internationally, the number of properties

on offer is quite modest and not everything on the

market is in fact luxurious. Whereby luxury is naturally

a personal matter and cannot be generalised.

Vienna‘s villas and luxury flats have caught up with

certain international standards. We have also noticed

that our clients‘ demands have become higher in the

last few years.” With square metre prices of €8,000 to

€30,000+, the town ranks average internationally.

Bernhard Reikersdorfer, managing director of Remax

Austria, sees a parallel trend throughout Austria,

“Even property in good locations, i.e. with a lake

view or near a lake, can still be sold at very good prices

because they are rare.”

PHOTOS: BEIGESTELLT

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Multi-faceted buyer interests

International families with children tend to prefer

green locations. But this decision often depends on

accessibility to schools. Couples or people buying a

second home tend to prefer inner-city areas. The

number of Austrian buyers in the luxury segment

has remained stable. There are shifts in customer

flows due to the current political and economic situation

in Vienna from Eastern Europe through to the

Arabian as well as Chinese and Indian regions. Russian

buyers are less active and buy very infrequently.

In western Austria, buyers mainly from the EU as

well as Arabian countries choose prime locations in

safe countries.

Some properties can be found here, combined

with the latest furniture trends.

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Sundays and public holidays

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98 Cercle Diplomatique 1/2016

www.patara-vienna.at

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