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Construction prices continued to rise at the beginning of the year, on the other hand, buyers of single-family homes tightened the handbrake. In the first quarter of 2023, the construction price index for structural and civil engineering rose to 120.7 index points. Compared to the same quarter of the previous year, construction prices increased by 8.9 percent, compared to the previous quarter by 1.6 percent. According to Statistics Austria, roof sealing and bonding work, electrical, gas and water installations in particular have become more expensive.
The real estate agent Remax reports today that there were fewer than 10,000 sales on the single-family house market in 2022 for the first time since 2013. After rising prices in the previous year – with the exception of Vienna and Tyrol – declining sales prices are expected for this year. According to the broker, bookings fell by 8.2 percent in the previous year. The Austria average for prices for single-family houses was 352,485 euros gross, which is 38,134 euros more than in 2021. The cheapest way to live is in a single-family house in Burgenland with an average purchase price of 202,398 euros.
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