The Real Estate Market of Austria is on the move again: after a short breathing break in recent years, the prices for apartments are now fast. According to the analysis of Immoscout24, based on 181,000, the average prices for square meters in 2024 increased by two percent.
For an apartment of 70 square meters, buyers now have an average of 406,666 euros in Austria leaves (see image below). But despite the high costs, the importance of the Austrians remains high: in the previous year questions about apartments with 19 percent grew up.
Longing for your own house or a safe investment object
Markus Dejmek, Austria boss of Immoscout24: “The demand for apartment buildings is increasing. Higher rental prices, higher salaries and more stable financing conditions ensure that the desire for your own home or the secure investment object is again in focus.
The trend to increase prices is back
In fact, the trend is to increase rising prices in many regions. Styria is the leader, where condominiums became four percent more expensive in 2024. The price from square meters climbed to 4312 euros. In Lower Austria (4527 euros/m²), Higher Austria (4500 euros/m²) and Vorarlberg (6797 euros/m²), prices rose by three percent. In Salzburg there was an increase of two percent (6175 euros/m²), prices rose by one percent (6587 euros/m²) in Vienna.
The costs have only fallen in one federal state
While the prices remained stable in Carinthia and Tyrol (4902 euros/m² or 6928 euros/m²), they even fell by eight percent in Burgenland to EUR 3909 per square meter. “This makes Burgenland the only federal state in which buyers can expect cheaper prices than a year earlier,” says Dejmek.
Tyrol, Vorarlberg, Vienna: it will be very expensive here!
In view of the total price for an apartment, the price differences between the federal states remain enormous: Tyrol, Vorarlberg and Vienna are still the most expensive plasters. An apartment of 70 square meters costs an average of 484,940 euros in Tyrol, 475,765 euros in Vorarlberg and 461,078 euros in the federal capital. On the other hand, if you buy in Styria or Burgenland, you can be happy: the prices for a comparable large apartment are 301,816 euros or 273,636 euros.
Ask Boom: Salzburg is in front!
The demand for apartments in the previous year – with an increase of 19 percent! The market in Salzburg is particularly hot, where the number of questions increased by 29 percent. This is followed by Tyrol and Vorarlberg with 22 percent each. In Vienna, the interest rate also increased by 20 percent. In the upper Austria (+13 percent), Carinthia (+12 percent), Lager Austria (+11 percent), Burgenland (+7 percent) and Styria (+6 percent), there is also an upward trend.
Conclusion: the dream of your own home life
Despite the rising prices, the dream of home in Austria is more alive than ever. Whether it is a safe investment or if a retreat – condominiums are again a lot of demand for. But is the perfect time for the purchase now? It depends on the region – and how much you want to invest!
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.
