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Following a decline in prices in 2023, the average cost of houses and apartments in Austria rose slightly again in 2024. The median price per square meter for condominiums increased from EUR 3,991 to EUR 4,000, while the price per square meter for houses rose from EUR 2,661 to EUR 2,709, as Statistics Austria announced on Wednesday. Compared to the peak values in 2022, however, prices for apartments and houses are still lower.
For example, around EUR 340 less was paid per square meter for a condominium in 2024 than in 2022, while the prices of residential buildings were approximately EUR 184 per square meter below the peak. The median price for buildable plots increased from € 105 to € 124 per square meter of land.
Differences between federal states: Vienna and Vorarlberg lead the way in real estate prices
In terms of prices, the gap between the federal states is wide. Vienna (EUR 5,492 per square meter), Vorarlberg (EUR 5,077), and Salzburg (EUR 5,000) are the leaders in house prices, while Burgenland (EUR 1,804) and Styria (EUR 2,411) are the cheapest. A similar picture emerges for housing prices. Vorarlberg (€4,962) tops the list of expensive places, followed by Vienna (€4,941) and Salzburg (€4,926). The cheapest apartments are available in Burgenland (€1,921) and Styria (€2,696).
The price differences per square meter between houses and apartments are often due to the age of the properties, writes Statistik Austria. Homes are frequently bought second-hand, while many apartments are purchased as new builds.
Prices for developable plots of land also rose in the previous year. The median price per square meter of land in Austria is EUR 124, up from EUR 105 in 2023 and EUR 85 in 2022. Vienna and Vorarlberg stand out clearly with prices of EUR 786 and EUR 689 per square meter, respectively. Tyrol is also well above the average at 350 euros. A few expensive transactions in places such as Kitzbühel or Lech drive the average upwards, writes Statistik Austria. In contrast, Burgenland (EUR 70), Carinthia (EUR 85), and Styria (EUR 91) are noticeably below the median value.
- source: vienna.at/picture:
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