The most expensive place is Innsbruck, where you currently pay an average of 9,700 euros per square meter (m2) for a new condominium, and 5,600 euros per m2 for a used one, as Raiffeisen Immobilien writes in a press release. Salzburg and Bregenz are also high-priced cities, and the cheapest apartments are in St. Pölten and Eisenstadt.
There are clear differences in the prices between new and used apartments in cities. “The market is divided into two parts: while new apartments are becoming scarcer and therefore remain expensive, there is a wide range of used apartments that are now cheaper again,” say Peter Weinberger and Peter Mayr, spokespersons for Raiffeisen Immobilien. Prices of new apartments are also being driven up by high construction costs.
Clear west-east price gap
In general, there is a clear west-east price gap in Austria. After Innsbruck, Salzburg and Bregenz are the most expensive cities. In Salzburg, you have to pay 9,000 euros per m2 for a new condominium, in Bregenz it is 6,100 euros. Used apartments are noticeably cheaper at 4,900 and 4,400 euros respectively. Vienna is on a par with Bregenz for new apartments (6,100 euros/m2), for used apartments you pay an average of 4,200 euros per m2.
At 5,500 euros per square meter for a new condominium, Linz and Klagenfurt are in the middle range. Graz is a little cheaper at 5,100 euros. The least you have to pay for a new apartment is in Eisenstadt (4,100 euros/m2) and St. Pölten (3,700 euros/m2). You can get a used apartment in these two cities for 2,200 or 2,400 euros per m2.
