In the city of Mozart, interest in rental apartments is greater than ever. In the first quarter of 2024, Salzburg recorded a 35 percent increase in demand. With devastating consequences: high demand continues to drive up prices on the rental market.
At 19.9 euros/m², Salzburg is in second place among the most expensive cities in all of Austria. Innsbruck comes first with the highest rental prices of 23.4 euros/m².
The already expensive capitals of the Western states have increased by 5 percent (Salzburg) and 9 percent (Innsbruck) compared to the previous year. With an increase of 10 percent, the supply of rental apartments in Bregenz has now exceeded 18 euros.
A somewhat subdued real estate purchasing market due to rising loan rates, stricter lending guidelines and economic uncertainty is now impacting the rental market with increased demand.
“But there are already the first signs that the purchasing market is picking up again. That would also change the situation for those who want to rent,” explains Markus Dejmek, head of ImmoScout24 in Austria. The real estate portal conducted a data analysis of almost 97,500 data points from 2022 to 2024.
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.
