Real estate market 2024: Stability despite increasing prices in Vienna!

Real estate market 2024: Stability despite increasing prices in Vienna!

The specialist association of the real estate and wealth scattering countries of the Austrian Chamber of Commerce (WKÖ) looks back on a turbulent year 2024. On Tuesday, December 17, 2024, at 9:00 a.m., a balance sheet press conference will take place in the Austria, Wiedner Hauptstraße 63, 1040 Vienna, which highlights the developments, reviews and views for member companies. Particular attention is paid to the challenges that arise from the upcoming from the KIM Ordinance in mid-2025. As ots.at reports, the year ends with sobering forecasts for new building and Refurbishment sector.

At the presentation of the real estate price mirror 2024, Gerald Gollenz, chairman of the specialist association, reports that the previous forecasts on the real estate market are confirmed. Despite the challenging framework, real estate acquisition in Austria is still in demand. The prices remain stable, with an average purchase price for condominiums at EUR 3,454.75 per square meter and an increase of 3.92 percent. In the case of single-family houses, the price is 2,384.61 euros per square meter, which means an increase of 2.57 percent, so wko.at

price developments and market analyzes

The real estate price level 2024 documents the market prices of the past year with around 11,000 individual values. It is particularly striking that the rental prices for non -price -regulated apartments in Vienna with 2.69 percent are only below the inflation rate. Michael Pisecky, deputy association chairman, emphasizes that the stable rental price development is due to the relationship between supply and demand. In addition, the demand in the outskirts of Vienna gives way significantly towards Lower Austria, where demand in the districts of Hollabrunn, Bruck an der Leitha and Neunkirchen increases, driven by favorable price structures and improved transport connections.

The precise and reliable real estate price mirror is an essential source of information for companies and for the wider public, which supports price observation on the Austrian real estate market. The report is available for 39 euros (29 euros for WKO members) and can be easily ordered online. Due to the decreasing construction activity in the real estate industry, price increases will be assumed for the coming years.