This is the result of a market analysis by real estate broker Remax based on data from IMMOunited. For a conventional single-family home, a typical price of 314,352 euros would have to be paid. That was 37,081 euros more than in 2020. There is by no means a lack of demand, but rather a lack of supply – this shortage drove house prices up in all federal states. In Burgenland, the domiciles in 2021 rose by a below-average 6.9 percent compared to the first Corona year 2020, in Tyrol by a huge 32.8 percent.
“The increased – certainly also pandemic-driven – desire for a house with its own greenery was particularly strong recently,” reported Remax Austria boss Bernhard Reikersdorfer. “The generally better quality of the single-family houses coming onto the market and the rising property prices are certainly also responsible for the noticeable price increases in recent years,” he explained further.
Large differences in the federal states
Depending on the federal state, the prices vary enormously – with an average range of 170,233 euros to 814,931 euros. A house in Vienna, Tyrol, Vorarlberg and Salzburg cost at least half a million euros last year. In Vienna you had to dig deepest into your pocket for a house in Döbling and Hietzing, in the provinces the district of Kitzbühel was the most expensive, followed by Innsbruck and the city of Salzburg. In general, Kitzbühel, Bregenz, Kufstein, Innsbruck-Land, Dornbirn, Zell am See and Hallein were particularly expensive patches.
Anyone who bought a family home in a provincial capital paid the most for it in Innsbruck. It is followed by Salzburg, Vienna and Bregenz.
Due to a lack of supply, the number of sales remained constant in the past year – a total of 10,722 single-family houses changed their owner in Austria, which was one transaction less than in 2020. The single-family house market reached its “historic volume peak” in 2018 with 12,689 booking files, according to Remax. In 2019 and 2020 the market shrank.
The enormous increase in prices can also be seen in the transaction volume in terms of value. With stable sales figures, the total transaction value of single-family homes traded in 2021 increased by 18.2 percent from 3.48 billion to 4.11 billion euros compared to the previous year. Even in the volume record year 2018, when the number of houses sold was 15.5 percent higher, the most recent transaction value was 13.2 percent short. In a five-year comparison, the value of all transactions increased by 43.9 percent, in a ten-year comparison by 107.4 percent, as shown by the RE/MAX-ImmoSpiegel.
According to the information, IMMOunited provided the database for the calculations of the real estate expert network in the form of the purchase contract collection. This consists of all single-family homes actually sold and registered throughout Austria. “We collect transaction data from the Austrian land register and supplement it, for example, with historically recorded utility value reports, zoning and building information from the property register and data from real estate advertisements,” says the owner and managing director of IMMOunited, Roland Schmid.
Source: Nachrichten
