Figures
Vienna Office Figures Q3 2026
October 16, 2026 4 Minute Read
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The Vienna office market remained subdued in the third quarter of 2026. Take-up amounted to 27,640 sq m. That is a slight increase on the previous quarter (24,020 sq m) but well below the strong prior-year quarter (Q3 2025: 89,280 sq m). Cumulative take-up for the first three quarters reached around 109,660 sq m, and the strong first quarter still accounts for more than half of this volume. Large-scale lettings continue to involve lengthy decision-making processes, while demand for modern, ESG-compliant space in central locations remains stable.
As anticipated, the Vienna prime rent rose to EUR 29.00/sq m in the third quarter (Q2: EUR 28.50/sq m), reflecting continued demand for high-quality office space in prime locations. The average rent also edged up, to EUR 17.50/sq m.
Completions in Q3 were limited to around 2,760 sq m, bringing the year-to-date total to approximately 25,400 sq m. Around 60,900 sq m, including DC Tower 2, are scheduled for completion in the fourth quarter. This raises the forecast completion volume for 2026 to around 86,300 sq m.
The vacancy rate remained stable at 3.9%, while the vacancy rate for modern (Grade A+B) office space stood at 4.5%. Vienna thus continues to rank among the European capitals with the lowest vacancy rates.
Office investment volume in Vienna reached around EUR 201 million in the first three quarters of 2026, down 24% compared with the same period last year. However, at EUR 148 million, the third quarter accounted for nearly three quarters of this total.
Office investment in Vienna remained subdued in the first three quarters, reflecting the continued cautious market sentiment. The evolving interest rate environment and ongoing global uncertainty continue to lead investors to postpone acquisition decisions, particularly for larger-volume transactions.
Demand in the office investment segment remains clearly driven by location and asset quality. High-quality properties in prime locations are particularly sought after, especially those with modern, sustainable specifications, strong-covenant tenants and long-term secure cash flows.
Gross prime yields in Vienna remained stable at 4.75% at the end of the third quarter. Office properties in secondary locations moved out slightly to around 6.10% (Q2: 6.05%). The outlook for yields remains weak, with upward pressure expected in the coming months.