2023-10-28 08:04:00
There were 3,890 transactions in this area, 743 or 16 percent fewer than in the same period last year. This was announced by the real estate agent network Remax.
Declines in all federal states
There were declines in all federal states, the lowest in Styria (minus 8.4 percent) and the highest in Burgenland (minus 34.2 percent). In Upper Austria, 711 single-family homes were sold, down 9.1 percent. The typical price for a single-family home in Austria was 350,473 euros following 347,313 euros a year ago, so there was another small increase of 0.9 percent. General inflation was eight percent in the same period. In Upper Austria, a single-family home cost an average of 343,996 euros, plus 0.4 percent.
Between 2013 and 2022, the average annual price increase in Austria was 6.9 percent, in 2021 it was 13.5 percent and in the previous year it was 13.1 percent.
Noticeable relaxation in single-family home prices
“As we predicted last year, there was a noticeable easing in single-family home prices year-on-year, and declining prices can already be seen in many regions,” says Bernhard Reikersdorfer, Managing Director of Remax Austria. The offer has recently increased. “Anyone who wants to buy has a much larger selection than a year ago. That’s the good news. However, the current conditions, such as high inflation, high energy costs, but above all higher interest rates and stricter lending guidelines, have led to “That fewer and fewer Austrians are able to realize their dream of owning a single-family home. This is also confirmed by the recent sharp decline in booking numbers.”
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