Vienna 2024: rental prices are increasing dramatically - what tenants need to know now
Vienna 2024: rental prices are increasing dramatically - what tenants need to know now
In 2024, the rental market in Austria, especially in Vienna, is under pressure. A current analysis by immoscout24, which takes around 135,000 apartment offers into account, shows that rental prices are increasing in many federal states. This goes hand in hand with a remarkable demand that further fueled the market. The managing director of Immoscout24, Markus Dejmek, found that the situation on the rental market remains tense and relaxation is currently not in sight.
The increase in rental prices in Vienna is particularly striking, where the square meter price rose to around 19.2 euros. This represents an increase of eleven percent compared to the previous year. With an average price of around 1343 euros for a 70 square meter apartment, the tenants are required to make decisions quickly and often compromise on the situation and infrastructure.
regional differences in rental price rise
The price increase is not limited to Vienna. In other federal states, the increases are sometimes significant. For example, Carinthia recorded an increase in square meter prices by 16 percent. Here the price rose from 12.2 euros to 14.1 euros, while in Tyrol the highest prices are called up at 20 euros per square meter. Salzburg and Vorarlberg followed with price increases of about nine to four percent, which also drives up housing costs there.
Despite these price increases, there are also some exceptions. In Styria, for example, rental prices decreased by two percent to EUR 12.4 per square meter. Upper Austria remained relatively stable at 11.5 euros per square meter, but the rental price is still considerably lower than in Tyrol, where a comparable apartment is 74 percent more expensive.
The demand in the Vienna districts has also increased particularly strongly. Compared to the previous year, there is an increase of 29 percent in the city. The districts of Floridsdorf, favorites and Ottakring have the highest growth, which further increases the rental pressure in these areas.
Topics of demand are the central districts of Vienna, where rental prices rose sharply. The price in the inner city rose from 21.6 euros to 23.9 euros per square meter. In Leopoldstadt and Alsergrund, the price increases are also significant at 14 and 24 percent. The central residential areas have become increasingly unaffordable for many tenants.
The developments on the housing market clearly show that the combination of high demand and rising rental prices is a challenge for those seeking housing. According to information from Immoscout24, you must be prepared to make decisions faster than ever before and possibly also make cuts in other areas.
A more comprehensive assessment of the situation offers the analysis by Immoscout24, which illuminates both the general trends and specific developments in different regions. Ultimately, the nores on the rental market show up as a complex interplay of supply and demand, which is particularly pronounced in urban centers such as Vienna. The complete analysis can be made at www.diepresse.com be read.