Prices for condominiums: declines and surprises in 2024!
Prices for condominiums: declines and surprises in 2024!
Real estate prices in Austria show a clear trend in 2024: In many districts, the offer prices for condominiums have dropped significantly. According to an extensive analysis of the Willwedding, over 100,000 advertisements were examined and determined that in 50 of 108 districts the prices have decreased. The Hollabrunn district of Lower Austrian was particularly affected, where prices fell by 26.7 percent to 2,422 euros per square meter. Markets such as Freistadt and Leoben also recorded declines of up to 18.3 percent. Judith Kössner, Head of Immobilien at Will, but warns of excessive generalizations and emphasizes that price movements are often influenced by local factors such as infrastructure and urban development.
market development and price differences
In Austria, however, some regions can also record growth. In Murau, prices rose by 27.9 percent to EUR 3,747 per square meter and also in Tulln and Klagenfurt Land, buyers have to pay higher prices. Interestingly, the bright spots also fell in high -priced locations such as the Viennese inner city, where an average of EUR 13,813 per square meter are required. At the same time, prices fell by 5.1 percent, which indicates a dynamic market process in which demand also plays a crucial role.
A decline in square meter prices can also be observed in Germany, such as immoportal.com . In the first quarter of 2023, the residential property price fell by 6.8 percent compared to the previous year, which is partly due to increased financing costs. The largest declines were registered, especially in metropolitan areas such as Berlin and Munich. This shows a precedent in the real estate industry, which is emerging both in Austria and in Germany, whereby buyers can tend to buy more cheaply in many regions than in previous years.
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| Ort | Hollabrunn, Österreich |
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