Prices for houses and apartments fell by an average of 2.6 percent last year. Existing apartments in particular contributed to this (minus 3.7 percent). However, there is no relief in sight for rental apartments yet. There it rose again by 7.6 percent to an average of 9.40 euros per square meter, according to figures from Statistics Austria.
After a year-long price increase, homes in Austria will become cheaper on an annual basis in 2023 for the first time since the start of the survey in 2010. “With the drop of 2.6 percent, house and apartment prices in Austria have fallen more than the EU average of minus 0.3 percent, but we do not see a price drop as in Luxembourg with minus 9.1 percent and Germany with minus 8 .4 percent,” he explains. Tobias Thomas, Managing Director of Statistics Austria.
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.
