In 2021 apartment prices have risen sharply again. In Austria, prices per square meter of housing have increased on average by another eight percent compared to the previous year. In a five-year comparison, the typical price for a traded apartment increased by 32 percent, in a ten-year comparison by 74 percent.
In the previous year alone, typical apartment prices in Austria rose by 9.3 percent in 2021 from 220,930 euros to 241,506 euros. “This price increase is the result of inflation fears, low interest rates for investors and owner-occupiers and increased construction activity with soaring construction costs,” explains Anton Nenning, Head of Research & Communication at Remax Austria, the results of the analysis. of the registrations in the Land Registry.
The price increase per square meter was 8.1 percent lower than the increase in apartment prices last year, by an average of 8.1 percent. The reason for this is the larger average surface area of the apartments. In Upper Austria and Burgenland, the price increase per square meter was 4.1 percent, in Tyrol 7.6 percent, in Styria 7.8 percent, in Lower Austria 8 percent, in Vorarlberg 8.9 percent, in Carinthia 9.9 percent and in Austria Vienna 10.5 percent.
Demand for housing remains strong
In 2021, sales and prices shot up in all states. Across Austria, 56,119 apartments were given new owners last year – that was 11.4 percent more than in the first Corona year and also significantly more than in previous years. From 2017 to 2020, the number of apartments sold fluctuated between 49,584 and 50,386 units.
Bregenz most expensive state capital
The statistical average price for an apartment rose from EUR 3479 to EUR 3761 per square meter. Average prices were again lowest in Burgenland (2436 euros), in Styria (2723 euros) and in Carinthia (3080 euros); they were highest in Vorarlberg (4829 euros), Vienna (4625 euros), Salzburg (4418 euros) and Tyrol (4320 euros). In between were Upper Austria (3105 euros) and Lower Austria (3219 euros). The most expensive state capital was Bregenz. Staying there was even more expensive than in Innsbruck and Salzburg.
Vienna city center tops price ranking
The highest prices for apartments were in Vienna-Innere Stadt (1st district), Vienna-Wieden (4th district), Kitzbühel, Vienna-Döbling (19th district), Vienna-Josefstadt (8th district), Vienna-Währing (18th district), Vienna-Alsergrund (9th district), Bregenz, Vienna-Hietzing (13th district) and Dornbirn.
Source: Krone
I’m Wayne Wickman, a professional journalist and author for Today Times Live. My specialty is covering global news and current events, offering readers a unique perspective on the world’s most pressing issues. I’m passionate about storytelling and helping people stay informed on the goings-on of our planet.
