Vienna fights against living space speculation: forced administration and help for tenants!

Vienna fights against living space speculation: forced administration and help for tenants!

Wien, Österreich - The city of Vienna identified 14 acute speculative objects in a determined step, two of which are under forced administration. This measure is part of a comprehensive strategy to counteract the neglect of buildings and the associated risks. The forced administrators are already active and carry out urgent maintenance work in the affected houses. This includes the remedial of defects that were recorded by the city's tenant aid, including stumbling blocks and uncertain power lines. Tenants who lived as a sub -tenant could also be recognized as the main tenant, which improved their legal status. These developments aim to increase the pressure on speculators and to secure the quality of the living space in the city.

The Vienna city government therefore calls on all homeowners to carry out the necessary maintenance work in accordance with Section 6 of the Reneches Act (MRG). The pressure not only leads to necessary renovations, but also to sales to owners willing to invest. In this context, it should be reported that 11 procedures have already been submitted to the court, with three more in preparation. The allegations against the speculators are serious and include general hazards, industrial users, infidelity as well as fraud and deception. In some cases, the city has introduced facts to the public prosecutor in Vienna, which has now initiated investigations.

measures to support tenants

A central aspect of urban politics is the support of the tenants. Tenantehilfe offers comprehensive help, including support in recognizing the main rental conditions and rent checks. The construction police have also taken measures and grants notices if homeowners do not meet their obligations to maintain the buildings. In order to prevent future grievances, technical urban renewal enables the introduction of replacement measures at the expense of the owners, which defines responsibility more clearly.

In addition, the building code was amended in 2023, which prevents the allocation of economic demolition maturity. Mandatory regular technical checks and a documentation obligation for construction crimes were introduced. In order to significantly improve the situation in the city, the budget for renovation funding has increased from 112 to 260 million euros. These financial resources make it possible to secure and renovate the city's infrastructure.

market developments in the area of housing

The current developments in the housing market are worrying by the Imokalkulator, according to an evaluation of the Vienna housing market. The analysis shows that the uncertainties in the political and economic framework shape the year 2025. At the end of 2024, an increase in rental prices in internal districts was determined by around 10 %, while the purchase prices have dropped. In addition, there was a significant decline in the number of rental offers, which could possibly lead to an apartment shortage. Old buildings are particularly affected in external districts that recorded a price drop of around 20 %.

The rental yields differ greatly between the different market segments. In internal districts, the rented trends are above the inflation rate, while in external areas a decrease in the negotiation success was recorded. It is expected that rents and purchase prices will continue to increase in the coming years, depending on the interest rate development. It should be emphasized that around 9,500 apartments were expected to be sold in 2024 and that the majority of the transactions in apartments have taken place up to 400,000 euros. The districts of Donaustadt, favorites and Ottakring have most sales.