However, Vienna is “relatively affordable” compared to other major cities, at 6,023 euros per square meter, according to a study by the consulting firm Deloitte. On average, you have to dig deep into your pockets for a new apartment in Austria: while you have to shell out 4,920 euros per square meter here, in Italy, for example, it is 2,118 euros. Hungary is already significantly more expensive at 2,605 euros.
Anyone looking for a new apartment in the Czech Republic should expect to pay 4,113 euros per square meter. There is not much difference to France with 4,538 euros or Germany with 4,700 euros per square meter. With 4,920 euros per square meter, Austria takes the top spot when it comes to average prices in the respective countries.
In other countries, the average price per square meter is lower – but in some major cities, privately financed new apartments cost significantly more than in Vienna. The prices for new buildings in rural areas must therefore be significantly lower in other countries than in Austria, where infrastructure and quality of life ensure higher prices.
While you have to reckon with 6,023 euros per square meter in Austria’s capital Vienna, you pay a whopping 14,900 euros per square meter in Paris. But Munich at 10,900 euros and London’s city center at 8,018 euros are no bargains either. But Amsterdam at 7,850 and Barcelona at 6,937 euros per square meter aren’t exactly cheap places either.
If Vienna is too expensive for you, Graz is cheaper. While the price per square meter in Vienna is around 20 percent above the Austrian average, in Graz you pay 25 percent less than the average price. Or you can move to our southern neighbor Italy: In Turin, the average price per square meter is 2,035 euros, in Rome 3,359 euros and in Milan 4,214 euros.
Rents in Vienna are comparatively cheap
But rents in Vienna are also relatively cheap: municipal housing and the existing stock of old buildings with regulated guideline rents push the rent down to 10.50 euros per square meter – although new rentals are significantly more expensive. In Linz, the average cost is 11 euros, and in Graz, 11.60 euros.
Tenants in London and Paris can only dream of such prices: at an average of 33.8 euros and 30.6 euros respectively, they pay more than three times the rents in Vienna.
