Frankfurt ($60/sqft, 8.4% vacancy) and Vienna ($29/sqft, 4.6% vacancy) compete on different axes: Frankfurt on talent depth and Vienna on rent and tax.
Frankfurt ($60/sqft, 8.4% vacancy) and Vienna ($29/sqft, 4.6% vacancy) compete on different axes: Frankfurt on talent depth and Vienna on rent and tax.
| Metric | Frankfurt | Vienna |
|---|---|---|
| Region | EMEA | EMEA |
| Country | Germany | Austria |
| Class A rent (USD/sqft/yr) | $60 | $29 |
| Class A rent (local) | 55 EUR | 312 EUR |
| Vacancy | 8.4% | 4.6% |
| Trend | flat | flat |
| Prime yield | 4.4% | 4.4% |
| Premium flex / seat / month (USD) | $1,080 | $720 |
| Submarkets covered | 6 | 5 |
| Corporate tax | 30% | 23% |
| Metric | Frankfurt | Vienna |
|---|---|---|
| Typical term | 7 yrs | 5 yrs |
| Typical rent-free | 9 mos | 6 mos |
| Lease norms | German leases run 5-10 years with break rights. Rent reviews are indexed to the CPI (Verbraucherpreisindex). Tenant pays Nebenkosten (operating costs) on top of base rent. Cautio (security deposit) of 3-6 months is typical. | Net leases with operating-expense pass-throughs (Betriebskosten) are standard. CPI indexation (VPI) is universal. Lease lengths of 5 years are typical with break options; longer terms negotiable for full-floor takes. Free rent of 4-8 months and EUR 250-350/sqm fit-out">fit-out contributions are typical on prime deals. |
| Tax note | Combined federal + state + Gewerbesteuer (trade tax) effectively 30% in Frankfurt. | Austrian federal corporate income tax of 23% (reduced from 25% in 2024). 20% VAT. Vienna municipal payroll tax (Kommunalsteuer) of 3%. International-organisation tenants benefit from headquarters-agreement tax exemptions. |
| Metric | Frankfurt | Vienna |
|---|---|---|
| Talent index (0–100) | 88 | 84 |
| Talent note | Deepest banking-and-regulatory talent pool in continental Europe. Average all-in compensation indexes 88. | Strong feed from TU Wien, Wirtschaftsuniversität Wien, and the University of Vienna. Multilingual professional base (German, English, CEE languages) supports regional-HQ tenancy. Deep institutional banking and asset management talent. |
Frankfurt: Hauptbahnhof anchors S-Bahn, U-Bahn, ICE, and regional rail. Frankfurt Airport is 11 minutes by ICE.
Vienna: Wiener Linien U-Bahn (five lines), S-Bahn commuter rail, and ÖBB long-distance rail at Hauptbahnhof. All trophy office clusters are within a 5-minute walk of a U-Bahn station.
Vienna is the cheaper Class A market on a USD basis.
Frankfurt has the deeper talent index (88/100 vs 84/100).
Vienna has the lower headline corporate tax (23% vs 30%). Local incentives can change the effective rate materially.
Frankfurt typical term is 7 years with 9 months free; Vienna runs 5 years with 6 months free.
Frankfurt: Hauptbahnhof anchors S-Bahn, U-Bahn, ICE, and regional rail. Frankfurt Airport is 11 minutes by ICE. Vienna: Wiener Linien U-Bahn (five lines), S-Bahn commuter rail, and ÖBB long-distance rail at Hauptbahnhof. All trophy office clusters are within a 5-minute walk of a U-Bahn station.
Score Frankfurt, Vienna and up to two more markets side-by-side on Class A rent, vacancy, talent, corporate tax, and premium flex pricing — all in USD.
Reviewed by Samuel Okafor — EMEA contributing editor. Last updated 2026-04-15. See our methodology and editorial standards.