Real estate prices fell slightly last year for the first time since 2003 – by 1.5 percent, as an analysis by Bank Austria shows. However, this had no impact on the affordability of living space. The average net income of Austrians has increased by 64 percent since 2004, but residential property prices have risen by more than 100 percent in the last 20 years.
In 2023, an employee would have to spend an average of more than 15 annual salaries for a condominium with one hundred square meters. In 2023, the average annual income – 28,000 euros net – was sufficient to finance seven and a half square meters of living space. In 2004 this value was fourteen square meters.
