Rents up by up to 16 percent in 2024 – in Vienna up to 25 percent more expensive in some cases

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In almost all federal states, including Vienna, rental prices for apartments on the real estate platform “ImmoScout24” have risen this year. Carinthia recorded the strongest price increase between January and November at 16 percent.

In Carinthia, the price per square meter for rental apartments offered on ImmoScout24 rose from EUR 12.2 to EUR 14.1 but remains below EUR 1,000 for 70 square meters. According to the ImmoScout24 analysis, the average rent for a 70-square-meter apartment in Tyrol is currently EUR 1,400, 74 percent more expensive than in Upper Austria (EUR 804). Tyrol recorded a price increase of 11 percent – at EUR 20 per square meter, the price per square meter is highest here. The most expensive rental areas in Austria included the federal states of Vienna at EUR 19.2 per square meter (up 11 percent), Salzburg at EUR 18.3 per square meter (up nine percent) and Vorarlberg at EUR 18 per square meter (up four percent).

Price decrease in Styria and Upper Austria

Rental apartments were relatively cheaper on the Burgenland and Lower Austria platforms, at around 12.5 euros per square meter. In Styria, prices fell by two percent to EUR 12.4 per square meter, and in Upper Austria by one percent to EUR 11.5 per square meter.

Regarding rental prices in the capital cities of the federal states, Innsbruck was the most expensive at EUR 22 per square meter (up 11 percent), followed by Salzburg at EUR 20 per square meter (up seven percent). The cheapest rental properties were to be found in St. Pölten (EUR 12.8 per square meter), Graz (EUR 13.4 per square meter), and Eisenstadt (EUR 13.5 per square meter).

Vienna: Rents in the Danube City are 25 percent higher

In Vienna, rents rose 11 percent to EUR 19.2 per square meter. The Vienna district of Donaustadt recorded the largest increase of 25 percent (EUR 21.8 per square meter), followed by Alsergrund (EUR 21 per square meter) with a rent increase of 24 percent. Rents in Brigittenau, Liesing and Mariahilf did not increase at all, only slightly. Although rents in Floridsdorf only increased by five percent, demand for rental apartments rose 75 percent.

Interest in rental properties was generally higher: demand increased the most in Styria with a plus of 35%, followed by Vienna with a plus of 29%. “The rising demand goes hand in hand with price increases in most Austrian federal states,” summarized Markus-Dejmek, Head of Austria at ImmoScout24, in a press release. The analysis was based on gross rents. A total of 135,000 offers were evaluated.