2023-09-21 16:36:00
After real estate prices have risen by double-digit percentages per year in recent years, a trend reversal has become apparent since the ECB’s interest rate increases. From the third quarter of the previous year, the price dynamics decreased. In some cases, real estate has even become cheaper, as Statistics Austria reported on Thursday.
Accordingly, prices for existing houses and apartments have fallen by 6.3 percent since the third quarter of 2022. Anyone who bought new living space had to dig deeper into their pockets: the prices for new condominiums and prefabricated houses rose by 8.2 percent within a year.
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