The square marks the beginning and end of the main road and is bordered by it at the southern end. The pigeon market is framed to the north by Schmidttorstraße, to the west by the Promenade and to the east by a street of the same name. Poultry used to be traded on the square.
With the erection of the Holy Trinity Column on the nearby main square in 1716, the pillory was moved from there to the Taubenmarkt, which gave it more significance beyond its function as a market. For a long time, the square was only accessible via the rather narrow Domgasse, before a connection to the main square was created in 1861 by demolishing the Schmidtor. In the 20th century, the Taubenmarkt became a transfer point for various tram and bus lines. It is now not only the square with the highest visitor density in the city, but with 236,000 pedestrians counted per week between 08:00 and 19:00, it is also the third most frequented place in Austria