Growth on the real estate market: Home purchases in Lower Austria

Growth on the real estate market: Home purchases in Lower Austria

in the first half of 2024 Lower Austria recorded an increase in home purchases, and after a long period of six years without any noteworthy growth. According to the Remax real estate network, a total of 1,192 entries in the land register were recorded during this period, which corresponds to an increase of seven percent compared to the previous year. It is particularly striking that the Gänserndorf district has the most of these entries.

The price pressure on real estate has also subsided in Lower Austria. While an average family home in the state now costs around 270,000 euros, this is a reduction of more than 16,000 euros compared to the previous year. This development makes the acquisition of living space more attractive for many potential buyers. Compared to the nationwide average, which is almost 330,000 euros, prices in Lower Austria are almost 61,000 euros cheaper.

market development and sales

Despite the price reductions, the highest sales in house sales at nationwide level were achieved with 355 million euros, which corresponds to a minimal increase of 0.8 percent compared to the previous year. Especially in the regions around Vienna, also known as the Vienna bacon belt, real estate prices are still high. Here single -family houses are offered at prices between 300,000 and 550,000 euros.

Bernhard Reikersdorfer, the Managing Director of Remax Austria, emphasizes that the decline in prices makes the own home tangible again for many. Nevertheless, he calls for a review of the credit transfer guidelines to facilitate access to financing. "The current regulations even make it difficult to acquire ownership at a young age, which could cut the market unjustified," said Reikersdorfer.

The current developments in the real estate sector in Lower Austria are crucial because they have been associated with uncertainties that have been ongoing for years. Buyers and investors pay close attention to the price developments to find the best opportunities for your home buying. Under the current circumstances, relaxation on the market could open the door to wider property ownership. Further information and current developments can be found at noe.orf.at