Commercial and residential: More foreclosures

The foreclosure auctions of properties remained stable overall in the previous year. However, there were quite significant shifts in some areas, as the number of auction dates for commercial and residential properties increased by eight and 8.7 percent respectively, while the number of dates for compulsory property auctions fell by 28.6 percent. An evaluation by the data service provider “smart facts” shows that the estimated value volumes have stagnated in some cases and have risen sharply in others.

The number of scheduled foreclosure auctions per resident did not change significantly in 2023. The number fell from 9.2 to 9.0 appointments per 100,000 residents.

With 823 (plus 0.1 percent) appointments for the compulsory auction of properties scheduled in Austria (2022: 822), the year 2023 was practically at the lowest level reached in the previous year since smart facts, which collects data on the Austrian real estate market, began recording Year 2007.

Of these appointments, 59 percent were for residential properties, 25 percent for commercial properties and 16 percent for land. This corresponds to the distribution observed in the long term.

Proceeds from foreclosure auctions have clearly missed the peak values ​​of 2021 and 2022. These declined to the level from 2016 to 2018.

The estimated value volume has again grown significantly in 2023, despite the virtually identical number of appointments. It amounted to 344 million euros. This means an increase of 13.8 percent compared to 2022, when the value was 302 million euros. The strongest growth, at 60.7 percent, was recorded primarily by properties dedicated to grassland/forestry. For residential properties, the increase in the estimated value volume was 19.2 percent, while for commercial properties it was only an increase of 0.8 percent.