Investing in Austria
Regions and real estate prices
Average prices (as of 2019):
According to statistics, property prices on the Austrian market have doubled on average over the past 10 years. In some districts the prices have even tripled. And so real estate remains the main instrument in the portfolios of many investors.
The selection of the right property, in line with the investor’s strategy, is of great importance. This is where we can best advise our clients and provide them with appropriate support during and after a purchase.
Please note: the figures mentioned below are guidelines and can vary greatly within a federal state depending on exact location and condition of the property.
Here is a very short overview of all Austrian federal states:
Viennа: Real estate prices in Austria’s capital are lower than in other European capitals. The average price per square metre in the prestigious districts (1st district; the centre of the city) hovers around 7000-18,000 euros. The minimum price for a square meter in the Austrian capital is 2000 euros (the apartment on the secondary market in the cheapest district, Simmering). On average throughout the city, the figure is 3000-4000 euros per square metre. For example, you can buy a two-room apartment in Austria for 300,000-350,000 euros if it is a new building.
Lower Austria: Lower Austria is the largest federal state in the country. The highest demand is for the immediate surroundings of Vienna: Mödling, Purkersdorf, Klosterneuburg. Properties northeast of Vienna, towards Bratislava, have become very popular in recent years.
Upper Austria: There are several small ski resorts in Upper Austria, also in regions with glaciers. In summer you can also relax in the famous lake area of the Salzkammergut nature region (e.g. around the town of Gmunden). The average property price is 2000-2500 Euro per square meter.
Salzburg: Salzburg is an important cultural centre and the fourth largest city in Austria. The region is home to countless well-known ski resorts, including the largest ski resort in the country, Ski Amade. The purchase of property by foreigners is strictly regulated here. The standard value per square meter is approx. 2000-3000 Euro.
Тyrol: Tyrol is a mountainous region of Austria with the most famous ski resorts. This is also where you will find the most luxury properties. The prices here are higher than in other provinces. It is especially difficult for foreigners to get permission to buy a property in Tyrol. The average value of a property in this federal state is comparable to that of Vienna – 3000-5000 Euros per square meter.
Forarlberg: Vorarlberg is the smallest federal state in Austria. There are many possibilities for active lifestyles in this province: ski and bicycle paths, golf courses, etc.. As in Tyrol, foreigners find it difficult to acquire real estate in Vorarlberg.
Styria: This federal state is characterised by the wealth and beauty of nature – forests, mountains, lakes, vineyards. This is an ideal region for agriculture. Here (as well as in Lower Austria and Burgenland) the conditions for hotel and gastronomy are very favourable. The prices in this region are constantly rising, averaging 2000 euros per square meter.
Carinthia: Here you can find the most prestigious summer and winter resorts; one of them is the so-called “Austrian Riviera” on Lake Wörth (Wörthersee). The purchase of luxury real estate in Carinthia is limited for foreigners.
Burgenland: The easternmost province is an agricultural region with almost no industry and no large tourist centres apart from spa and wellness hotels. Here you can find the cheapest properties, which have become increasingly attractive due to the proximity to Vienna.