Contrary to many other property markets in Europe, Austria has proven to be resistant to global recessions so far and is seen as one of the most stable and steadily developing property markets worldwide.
This is good news for investors, but expats hoping to buy a house might find that real estate prices are higher than in their home countries. There is a steady demand for accommodation, so current home owners have no problem selling their houses at higher prices.
While people from all nationalities purchase real estate in Austria, Germans are the largest group of foreign property buyers, followed by Italians.
Property Prices
Prices vary depending on quality and location, but you can roughly count with the following cost:
- Studio apartments: from €70,000
- Small apartments: from €80,000
- Larger apartments (120 square metres): from €130,000
- Detached homes: from €300,000
Keep in mind that in larger cities like Vienna, property prices are usually significantly above the national average.
Accommodation located in the mountains is valued according to the quality of the local skiing and its rent potential. Even if you don't plan on renting your property, buying in a popular resort area is more expensive than elsewhere.