Image: Colourbox
Real estate prices in Austria could go down this year – albeit from a high level. According to a survey by management consultants EY among 80 active market participants, prices are expected to fall in almost all property classes. The level is only likely to remain stable in prime locations. The domestic market is becoming less attractive for those surveyed.
- Also read: Skiing for the rich: Where real estate costs the most [OÖNplus]
“The real estate market was considered very stable for years, but there is currently a slight trend reversal,” said Stephan Größ, head of the real estate sector at EY Austria. Those surveyed only expect stable price developments in prime locations. Vienna is still considered the most attractive location in Austria, especially for office, residential and retail properties. Salzburg, Graz, Linz and Innsbruck rank behind them. Otherwise, those surveyed expect falling prices in all classes – residential, office, commercial, hotel or logistics properties.
Stable prices expected in prime locations
In residential construction, for example, 46 percent of those surveyed expect prices to fall in average locations, and 62 percent even expect lower prices for properties in the periphery. In prime locations, however, 41 percent see stable prices. The same picture emerges for retail, office properties and the hotel industry.
- On the subject: How Upper Austria will live this year [OÖNplus]
In general, the domestic real estate market has become less attractive for those surveyed. Only 18 percent classify the market as “very attractive” in 2024, compared to 20 percent the year before and 52 percent in 2022. Another 43 percent see the market as “attractive” this year, compared to 70 percent last year.
My themes
For your saved topics were
new articles found.
info By clicking on the icon you can add the keyword to your topics.
info
By clicking on the icon you open your “my topics” page. They have of 15 keywords saved and would have to remove keywords.
info By clicking on the icon you can remove the keyword from your topics.
Add the topic to your topics.
Source: Nachrichten
