Börse Express – No end in sight: Purchase prices for apartments in large cities have risen by up to 19 percent in one year
Vienna/Nuremberg (ots) – An annual comparison by immowelt.at of asking prices for condominiums in the 6 largest cities shows:
* Purchase prices increase within a year in all major cities surveyed
* Most expensive city: After a 10 percent increase, condominiums in Innsbruck cost a median of EUR 6,770 per square meter
* Vienna (+10 percent) breaks the 5,000 euro mark, Salzburg (+8 percent) even more expensive
* Largest increase of 19 percent in Klagenfurt
Real estate prices in Austria continue to pick up speed. In the 6 largest cities, the purchase prices for condominiums in the past year have continued to rise. In 3 cities the increase is in the double-digit percentage range. This is shown by a year-on-year comparison by immowelt.at, one of Austria’s leading real estate portals. Asking prices for condominiums (40 to 120 square meters) in cities with more than 100,000 inhabitants were examined. Both in the high-priced as well as the cheaper cities, the prices continue to rise. In Innsbruck, by far the largest city, asking prices increase by 10 percent within a year. In 2020, a square meter still cost 6,170 euros, currently it is 6,770 euros. The expensive median prices are due in large part to high demand and limited supply. The location in the middle of the Alps makes Innsbruck particularly attractive as a tourist stronghold for investors. In addition, many high-quality new buildings are being built, the high purchase prices of which influence the average price level.
Vienna breaks new record
Buying real estate in Vienna, on the other hand, is significantly cheaper, even though more and more expensive new buildings are being built there and demand is persistently high due to the country’s economic strength. As a result, median prices also rose by 10 percent in Vienna. As a result of the increase, a square meter in the capital costs 5,000 euros for the first time. A year ago, buyers needed to pay around 500 euros less for the square meter. Salzburg surpassed the 5,000 euro mark some time ago. After an increase of 8 percent, condominiums now cost 5,630 euros – the second highest value of all cities after Innsbruck.
Biggest climb in Klagenfurt
On the other hand, there is a stronger percentage increase in the very first cities examined. In Klagenfurt, condominiums have increased in price by 19 percent to €3,320 per square meter within a year. The city on Lake Wörthersee is thus increasingly approaching the price level of Graz (3,470 euros) and Linz (3,730 euros), where the price increases are lower at 6 and 8 percent respectively.
Year-on-year comparison of purchase prices for condominiums in major Austrian cities at a glance:
City purchase price 2020 purchase price 2021
(per m2) (per m2)
Graz €3,260 €3,470 +6%
Innsbruck €6,170 €6,770 +10%
Klagenfurt €2,790 €3,320 +19%
Linz €3,440 €3,730 +8%
Salzburg €5,200 €5,630 +8%
Vienna €4,530 €5,000 +10%
The result tables are also available for download here:
basis of calculation
The data basis for calculating the purchase prices in the 6 largest cities in Austria were apartments with 40 to 120 square meters advertised on immowelt.at in 2020 and 2021. The prices are offer prices, not closing prices. Only the offers that were in greater demand were taken into account. The median is the middle value of the asking prices.
You can find this and other press releases from immowelt.at in our press area at https://www.immowelt-group.com/presse.
The real estate platform www.immowelt.at With 2.5 million visits* per month, is one of the leading online marketplaces for houses, apartments and commercial real estate in Austria. More than 60,000 rental and purchase properties are offered there every month. The operator of the portal is the Nuremberg immowelt GmbH, whose portfolio includes other successful portals such as immowelt.de and crozilla.com as well as efficient CRM software solutions for the real estate industry. The company is part of the immowelt Group, which is a subsidiary of Axel Springer SE.
*Google Analytics; Status: January 2021