Increase in Home Sales in Austria Signals Market Recovery
Recent trends in the Austrian real estate market indicate a potential turnaround, as evidenced by the latest data from property registrations. According to a report released by Re/Max, the number of registered sales of single-family homes rose for the first time in several years, with 9,812 homes sold in 2024. This marks an increase of nearly 20 percent compared to the previous year.
Although this figure still falls short of the long-term average of 10,481 sales recorded between 2009 and 2023, Re/Max executives express optimism about the market's trajectory. They note that the stagnation has ended, with signs of renewed vigor in the single-family home market.
In terms of pricing, despite the rise in demand, the overall price levels have only seen slight adjustments. The average price for homes across Austria stands at approximately EUR333,500. In contrast, properties in Vienna and the western regions of Austria remain significantly more expensive, with average prices exceeding EUR677,000. Meanwhile, homes in the southern and eastern parts of the country are priced around EUR340,000.
The most expensive single-family homes in 2024 were recorded in several notable areas, including:
- Vienna-Döbling: EUR2,200,000
- Kitzbühel District: EUR2,100,000
- Innsbruck: EUR1,400,000
- Salzburg City: EUR1,200,000
Re/Max highlights that this recovery is noticeable across all federal states, particularly in regions that offer more affordable living conditions. Buyers with limited budgets are increasingly opting for rural areas, while demand remains strong in the outskirts of Vienna. The combination of good infrastructure, accessibility to urban centers, and relatively affordable pricing in these suburban areas contributes to this stable growth.