How long do house builders in Tyrol have to work to afford 500 square meters of building land? The Institute’s OGM evaluated prices and revenues. The results are sobering.
Building land is very popular in Tyrol. On the one hand, the geography ensures that there are often few buildable areas in the valleys, on the other hand, tourism and the high number of purely recreational homes exacerbate the scarcity of land. All this means that building land prices in Tyrol are more than three times higher than the Austrian average: 261 euros per square meter compared to 84 euros in the national average.
The price of building land in Tyrol has also risen faster than anywhere else – especially in the Kufstein district, where building land prices have increased by 150 percent according to Statistics Austria. In the districts of Innsbruck-Land and Schwaz, prices more than doubled between 2015 and 2021.
Tyrolean income below average
At the same time, the incomes of the Tyroleans are lagging behind. Using data on average gross annual income and average building land prices from Statistics Austria, OGM has calculated how long you have to work in Tyrol for 500 square meters of building land. There are major differences between the municipalities.
The Innsbruck region and the Kitzbühel area are especially expensive. In the Zillertal and in the tourist strongholds of the Oberland, building plots are hardly affordable for ordinary earners.
Kirchberg only for millionaires
A Tyrolean has to save his entire (!) income for 36 years to be able to buy a building plot of 500 square meters in Kirchberg, 33 years in Kitzbühel! In total 49 of the 277 Tyrolean municipalities you have to spend your income for more than ten years.
List Fritz: “Not given by God”
“Outrageously expensive homes, insanely expensive building plots and low incomes are not given by God, but are mainly the result of wrong ÖVP policy,” says List Fritz club president Markus Sint. “The ÖVP protects those who already have enough and makes everyone foot the bill!”. Among the most expensive communities, where you have to save your entire income for 13 years or more for a building plot of 500 square meters, there are mainly tourist communities next to Innsbruck.
“There, chalet villages, investment models and piles of illegal leisure homes are driving up prices for the local population enormously. We as List Fritz come up with countless proposals for solutions in the state parliament, but the ÖVP and the Greens ignore these undesirable developments.
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
