Weinviertel in growth: Mistelbach is thriving

Since the opening of the 20,000 square meter location on May 7th, the district capital in the Weinviertel has changed noticeably. But the furniture store is only part of a larger development: According to the municipality, around 1,000 apartments are currently being planned, approved or built. Real estate prices are rising. And Mayor Erich Stubenvoll (ÖVP) speaks openly of a turning point.

“This is market logic”

“Where a group like XXXLutz invests, the others follow suit. That’s not optimism – that’s market logic,” says Stubenvoll. The furniture giant deliberately chose Mistelbach, even though there were other locations to choose from. “This sends a signal to investors and project developers.”

The city relies on its geographical location: direct connection via the A5 and S2, 45 minutes by train to Vienna, a historic old town and proximity to wine-growing regions.

“The strong demand for residential construction in Mistelbach is explained by the double appeal,” says Stubenvoll. “Anyone moving from the region will find their capital here with barracks, district administration, court, all types of schools up to the high school diploma and a specialized hospital. Anyone coming from Vienna appreciates the Nitsch Museum, the surrounding castles, the silence of the vineyards and hiking trails.”

Purchasing power back to the region

XXXLutz puts the number of direct and indirect jobs created by the location at 525. The city assumes that up to 22 million euros in purchasing power could flow back into the region annually – money that Mistelbacher customers have previously spent in Vienna, Stockerau or elsewhere. Stubenvoll puts the annual local tax that the company pays to the community at up to 270,000 euros.

“Mistelbach was once a town north of Vienna that no one was really on the radar. That is currently changing,” says Thomas Saliger, company spokesman for XXXLutz. The company analyzed the location closely. “The XXXLutz Group would like to thank the city of Mistelbach and, above all, Mayor Stubenvoll for their great commitment. It is also thanks to him that the old furniture location could be revived.”

Kindergarten as a signal

Parallel to the establishment of the furniture store, a new residential area is being built a few hundred meters to the west, along Ebendorfer Straße. A kindergarten has already been built there – a detail that is seen as an important signal in the real estate industry: Where the public sector creates infrastructure for families, demand usually follows.

Newly built apartments in Mistelbach currently cost between 4,800 and 6,000 euros per square meter – around half of what is quoted in Mödling. For comparison: In Mödling, prices for new apartments are around 10,000 euros per square meter, and in some locations higher.

“Investors also value our above-average catchment area with Korneuburg, Gänserndorf and Brno in the Czech Republic,” says Stubenvoll. According to local authorities, real estate market researchers expect a price increase of four to seven percent for condominiums in the next two years.

Comparison with Mödling

The development is reminiscent of that in Mödling, which has experienced a rapid real estate boom over the past two decades. There, too, it was infrastructure projects and the establishment of large retailers that accelerated the change. Baden and Klosterneuburg followed similar patterns.

It remains to be seen whether Mistelbach actually undergoes a comparable development. The prerequisites – transport connections, affordable prices, growing infrastructure – are definitely there.