ANALYSIS: Where are property prices growing in Austria?

0
57

[ad_1]

The Austrian Real Estate Price Index published by the Austrian Chamber of Commerce, showed growth in rental prices and real estate prices in 2020.

In 2020, home prices rose by an average of 3.7 percent nationwide, while apartment prices rose by about 4.6 percent.

Free land on which to build has grown by 7.5% more.

In Austria, rents rose by a total of 1.7 percent, although in Vienna it was much higher, where rents rose by six percent.

Housing in Austria: where are prices stable and where are they rising?

In which cities in Austria are property prices growing?

Prices are rising in almost all cities in Austria.

The largest percentage increase for houses and apartments was in Innsbruck, where costs rose by 7.7 percent, followed by Klagenfurt (7.2 percent), Linz (6.3 percent), Graz (5.3 percent), Salzburg and Eisenstadt (both 5 percent). and Vienna (four percent).

READ MORE: Where in Austria did house prices rise during the pandemic?

This increase put Innsbruck in first place in Salzburg with the highest prices per square meter in Austria, while Vienna came in third.

What is in demand?

The results are in line with recent research, including a study by Statistics Austria, which shows that demand for larger properties is on the rise.

The main reason for this was the rise in popularity of work from home, which became much more prevalent during the pandemic.

READ MORE: Ten Tips for Finding an Apartment in Austria

The popularity of large apartments or houses with gardens, as well as plots of vacant land, has grown during this time.

“It was a special year – the year of the pandemic, home office, travel restrictions. Accordingly, the desire to live can also change, ”said the spokesman for the Chamber of Commerce Georg Edlauer.

Even as far from major urban areas as Waldviertel, where vacation homes used to be, is now becoming a more attractive option for mainstream living.

What will change in the future?

The authors said they expect property values ​​to continue to rise, but rents will not rise at the same rate.

This was due to a number of factors related to the growing popularity of owning your own home or apartment, as well as Austrian rental laws that prevent price increases.



[ad_2]

Source link