Colliers has sold a Rental apartment building for around € 21,000/sqm. This beat the previous record by close to 100 Percent. Even with rapidly rising prices and increasing demand for real estate investment in Vienna’s first district, this is astonishing.
In proximity to ”Neuer Markt” (a well-known square in Vienna’s first district), a unique real estate transaction was completed by Colliers. A commercial building built in 1914 in the center of Vienna, which was extensively renovated about 5 years ago and expanded to include a residential penthouse addition has been sold in May this year by the Austrian owner to a Viennese company.
Nothing out of the ordinary, but based on the data in the purchase agreement, in which a total usable space of 1,117 m² and a purchase price of € 23.3 million, are reported, this represents an average square meter price of € 20,859, - / sqm. Even with rapidly rising prices and increasing demand for real estate investment in Vienna’s first district, this is astonishing.
We have to point out, that it’s not an apartment building in the traditional sense, but can be described as "TOWNHOUSE" similar to London or New York Townhouses.