Good news for all people with money looking for apartments, houses and land: prices have stagnated in many places since autumn 2022 saw the first drop in real estate transactions.
Buying a home will no longer become more expensive any time soon. However, the dream of owning your own four walls in the countryside still costs a lot. Building plots have risen in price nationally by 8.95 percent on average to 407 euros per square meter. With the exception of Vienna, prices rose “only” by a few digits (see chart).
“Great uncertainty among buyers”
Detached houses were 5.1 percent more expensive last year at 2,325 euros per square meter. “There is a lot of uncertainty among buyers,” says WKÖ spokesman Gerald Gollenz. Among other things, rising interest rates, stricter credit rules and the war in Ukraine contribute to this.
Those who have found a reason, however, must continue to take high construction costs into account. This will probably remain the case this year and next, as the companies’ order books are still very full.
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.
