Vienna Office Figures Q2 2026

The Vienna office market presents a mixed picture in the first half of 2026. With a take-up of 74,650 sq m, the first half of 2026 was only five percent below the prior-year figure. This result, however, is primarily attributable to a strong first quarter – the second quarter was significantly more subdued at 20,559 sq m, marking the weakest quarterly result since Q2 2021. Large-scale lettings are characterised by longer decision-making processes, while demand for modern, ESG-compliant space in central locations remains stable.

Rents remained stable compared to the previous quarter, although further upside potential exists particularly for high-quality office buildings in prime locations. The Vienna prime rent continues to stand at EUR 28.50/sq m and is expected to rise to around EUR 29.00/sq m by year-end. The average rent currently stands at EUR 17.25/sq m.

 

 

The total completion volume for 2026 amounts to approximately 76,400 sq m. Following the completion of ENNA in the first quarter, just over 50,000 sq m remain under construction, including DC Tower 2.

The vacancy rate edged up slightly from 3.8% to 3.9%, while the vacancy for modern buildings remained stable at 4.4%. Vienna thus continues to rank among the European capitals with the lowest vacancy rates.

 

 

Office investment volumes in Vienna totalled approximately EUR 53 m in the first half of 2026, a result that clearly reflects the cautious market sentiment. Transaction activity was concentrated entirely in the first quarter, while no office transactions were recorded in the second quarter. Global developments towards the end of the first quarter, combined with the evolving interest rate environment, led investors to adopt a more cautious stance, resulting in a growing tendency to postpone acquisition decisions.