Rental price increase in Austria: Cities and rural regions affected
Rental price increase in Austria: Cities and rural regions affected
In 2024, Austria experiences a massive increase in rental prices that not only affects the big cities, but also affects rural regions. The rental prices rose by up to 16 percent in the nationwide average, which for many households becomes a considerable financial burden.
In Vienna, rents have risen particularly sharply. In certain districts, such as the Donaustadt, the costs climb by impressive 25 percent. The average square meter price in the capital has reached the 19.2 euros mark, which makes Vienna one of the most expensive cities in Europe. The effects can also be felt in Tyrol, where rents have increased by 11 percent and square meter prices are achieved up to 20 euros.
Rental price development in the regions
In contrast to the drastic climbs in Vienna, there are also cities such as Graz and St. Pölten, where rental prices are still comparatively moderate. Here rents for apartments with 50 to 60 square meters can be between 10 and 12 euros per square meter, which is considered affordable by many seekers. In Innsbruck, rental price development is also noticeable, with an increase of about 10 percent.The main reason for this quick increase in rental prices is the significant increase in demand for living space, especially in urban areas. In Vienna, demand has increased by 29 percent, while the range of rental apartments has decreased by around 20 percent, since 2020. This imbalance inevitably leads to increasing prices.
Another essential factor are the persistently high inflation rates, which also affect the apartment rents. The average square meter price without operating costs is currently around 7.3 euros, which corresponds to an increase of 4.3 percent compared to the previous year. This situation is an additional burden for many tenants, which, in combination with the increasing cost of living, becomes a serious challenge.
Details on this current situation offer comprehensive reports, such as the article on extxpress.at illuminated.
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