The consulting firm Deloitte examines the situation on the European real estate market every year. This year’s “Property Index” with 24 countries analyzed shows that in 2023, Austrians had to pay an average of EUR 4,920 per square meter for a privately financed new apartment.
This makes Austria the most expensive country in Europe in the Deloitte comparison, but it is closely followed by its neighbouring country Germany with a price per square metre of EUR 4,700. France is in third place with EUR 4,538.
Despite a slight cooling of the market, owning your own home remains expensive in Austria. “Although prices for existing houses and apartments have fallen in recent months, they have remained fairly stable for new buildings. This is particularly true for sustainably built properties, especially as the climate efficiency factor and the associated low energy consumption are becoming increasingly important,” explains Gabriele Etzl, partner and real estate expert at Deloitte Legal. She also comes to the well-known conclusion that home ownership is expensive in Austria and that the dream of owning your own home is becoming much more difficult for many people to achieve due to high interest rates and the difficulty of accessing loans due to the KIM regulation and the decline in residential construction. A development that, according to Etzl, needs to be counteracted in the long term.
