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Real estate in Austria

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Buying an apartment in Austria

In Austria, there is a very strong west-east divide in prices for condominiums. An apartment in Vorarlberg is on average more than twice as expensive as a comparable property in Burgenland. The difference is even greater when comparing cities. An apartment in Vienna, for example, can cost more than five times as much as an apartment in Linz, the capital of the neighboring province of Upper Austria.

Prices also vary greatly depending on location within the federal states. For example, the north of Burgenland is around a third more expensive than the south, while in Vorarlberg, the west is more expensive than the east as a catchment area for Switzerland. Popular excursion destinations, tourist areas and lake regions are the frontrunners in terms of prices for living in the countryside.

Renting an apartment in Austria

Prices for rental apartments vary greatly across Austria. The west is significantly more expensive than the east. If you want to rent a cheap apartment, you will therefore find it in Burgenland, Carinthia and Styria. Here, rents are only just over €14 per square meter. Vienna, Vorarlberg and Tyrol are on average 30 percent more expensive.

There are also price fluctuations at regional level, with a strong urban-rural divide. By city standards, rental apartments on the outskirts of cities and close to industrial zones are cheap. At a province-wide level, apartments in the countryside are at least a third cheaper than in the city. In Salzburg, for example, the cheapest prices for rental apartments in the countryside are around seven euros, but the city is one of the most expensive residential areas in Austria.

Buying a house in Austria

If you want to buy a house in Austria, you are more likely to find one in rural regions or on the outskirts of large cities. In the cities, condominiums and rental apartments dominate the supply. Houses for sale are rare and expensive there. The further away the house is from the city, the cheaper it becomes, and the wider the choice of different sizes and locations. In the periphery and sparsely populated regions, these are often old houses in need of renovation that are very cheap to buy but still require corresponding investment.

In general, houses in Vorarlberg, Tyrol and Salzburg are significantly more expensive than in Burgenland or Lower Austria, i.e. in the east of Austria.

Temporary Housing in Austria

As a rule, the apartments are fully equipped; in addition to furniture, kitchen utensils such as pots, pans and cutlery are usually part of the rented property.

The planned move-in time is set in the contract, the rental period is usually a few weeks to a maximum of six months. Depending on the contract, it may be possible to extend the period of temporary housing.

Luxury in Vienna's first district

The Innere Stadt is probably the most exclusive and therefore also the most expensive residential area in Vienna. The Innere Stadt stands out in terms of price category. While smaller city properties are more expensive in most other Austrian cities, prices in the 1st district rise with the number of square meters. The average price per square meter for an apartment with over 130 m² of living space is 1/3 higher than for a property with less than 80 m² of living space.

As the Innere Stadt is the most expensive residential district in Vienna, the residents are correspondingly affluent. Senior citizens and high-earning couples as well as business people are the main clientele served by the Innere Stadt. A property in Vienna's First District is a luxury. The neighborhood is home to St. Stephen's Cathedral, the Hofburg Palace, the Vienna State Opera, City Hall, the Graben and many other historically and culturally significant sites. All of Vienna's important facilities are within walking distance and local amenities are excellent.