This emerges from an analysis of the land register entries that the brokerage network Remax published this week.
The typical apartment price rose within a year by 9.3 percent to 241,506 euros. In a five-year comparison, the typical price has increased by 32 percent. In a ten-year comparison, it was 74 percent. “This price increase is the result of fears of inflation, low interest rates for investors such as owner-occupiers and increased construction activity with sharply rising construction costs,” said Remax Managing Director Anton Nenning.
56,119 units found new owners across Austria, an increase of 11.4 percent. From 2017 to 2020, the number of apartments sold fluctuated between 49,584 and 50,386 units sold. The total sales value increased by 22.8 percent to 14.92 billion euros.
The sales figures and prices skyrocketed in all federal states in 2021: In Upper Austria, 7151 apartments got a new owner, 60 more than in 2020 and more than ever before within a year.
Lowest price increase in Upper Austria
The total sales value increased by 15.3 percent to 1.61 billion euros.
With 1313 units, most apartments in Linz changed hands. It is followed by Wels (city and country) with 903 apartments, and Linz-Land (838). In Upper Austria, too, the average prices for condominiums rose by 5.3 percent to EUR 212,292 in the previous year. This is the lowest price increase of all nine federal states.
The most expensive residential district is Vöcklabruck with a typical price of 251,108 euros. This is followed by the Urfahr area (239,093 euros), Linz-Land (225,194 euros) and the state capital Linz with 224,627 euros.
Source: Nachrichten
