HISTORY
Rental apartment buildings in Austria

Forward planning, intelligent investments

Privately backed rental apartment buildings have a long tradition in Austria.

For centuries, prosperous citizens built family retreats that reflected their social standing, often in the style of small – and in some cases expansive – mansion houses. Many of them have been preserved to this day, and their solid cores make them particularly attractive residential properties.

Between the mid-19th and early 20th centuries, Austria witnessed an unprecedented economic and social boom. Around the start of the 20th century, Vienna was the world’s fourth-largest city, after New York, Paris and London. This period was labelled the Gründerzeit era, in light of the massive upturn in entrepreneurship and culture. At that time, relatively broad sections of the population enjoyed rising prosperity, and the demand for high-value, upscale residential space grew.

Illustrious Gründerzeit rental apartment buildings sprang up in Vienna and across Austria, with architecture that took its cue from the ancient Greek and Roman styles, which came to be known as neoclassicism. These properties stand out for their ornate architecture with imposing entrances and high ceilings. The exceptional quality of the living space was down to the exclusive use of natural construction materials like brick and timber. As a result, demand for apartments in such properties was strong.

  • Baroque and Biedermeier (18th and 19th century
  • Gründerzeit and belle époque (19th and early 20th century
  • Post-1950 (“new builds”)
  • Neoclassical style
  • Ornate facades
  • Generously proportioned stairwells
  • High ceilings
  • Pleasant ambience (timber and brickwork)
  • Rents regulated by the Mietrechtsgesetz (Rent Act)
  • Translates into security for tenants and lessors, as well as building owners
  • No neoclassical design
  • Plain facades
  • More efficient use of space
  • Normal ceiling heights
  • No restrictions on rents