Rental Apartments in Vienna Are Becoming Scarce

The supply in the Vienna housing market is likely to become even more limited. In the first half of 2025, according to figures from the real estate consultant EHL, there were slightly more than 10,000 completed apartments in the federal capital. In the same period of the previous year, there were more than 12,000, and in the first half of 2023, there were over 14,000 completed apartments. The supply of rental apartments, in particular, is decreasing, as new construction projects are primarily being sold individually.

Construction is mainly taking place in the districts north of the Danube (21st and 22nd districts) as well as in Favoriten and Liesing. Gaps and attics in established residential areas, on the other hand, are rare. The supply of rental apartments is also decreasing in existing buildings, especially in tenement houses. The rent cap and uncertainty about further market interventions are shifting the supply from rental to ownership, writes EHL.

In contrast, there is growing demand, with the number of rental inquiries per apartment increasing significantly and vacancies being low. But owner-occupied apartments are also in demand. Purchase decisions are being made quickly, as prospective buyers no longer expect prices to fall. For the entire year 2025, EHL expects an increase in housing prices of 2.4 percent and an average rise in rents of 7.3 percent.

In the coming years, EHL continues to see new construction performance below demand. As a result, the housing shortage will further intensify.

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