In the past ten years, turnover in the province of Salzburg has almost doubled, by 87.9 percent to be exact. Nowhere else in the Alpine Republic is real estate traded as often as in Salzburg. And this despite the fact that people are already fleeing the capital.
The war in Ukraine, the constantly rising inflation and tightened lending guidelines to throw it all up: this has demanded quite a bit of dynamism from the domestic and Salzburg real estate markets. In figures, purchases were made 4.1 percent less in the entire state in 2022 than in the previous year. This corresponds to 10,664 transactions, i.e. buying or selling.
Urban escape and the trend reversal of Tennengau
Nevertheless, Salzburg remains the most popular real estate area in the Alpine Republic, according to a survey by Remax. Accordingly, real estate trading has almost doubled since 2013. In concrete terms, 87.9 percent more houses, apartments, land and the like changed hands in 2022 than ten years previously. The Austrian average is only 57.5 percent.
Vibrant trade and therefore high demand also drives up prices. It is probably no wonder that the expensive provincial capital recorded a minus (see chart above), while the region around Salzburg once again made strong progress. And even Tennengau has probably benefited from the exodus from the city: a big minus of 28.5 percent from 2020 to 2021 in the real estate trade has turned into a whopping 16.3 percent plus.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
