The difficult situation on the real estate market can also be seen in the number of entries in the land registers. In the first half of 2024, 47,823 registrations were registered, a decrease of 17.8 percent compared to the same period last year, according to data from the real estate agent network Remax.
A decline was recorded in all federal states. The most significant decline in the number of registrations was in Carinthia with a decrease of 24.7 percent, followed by Styria (minus 22.9 percent) and Upper Austria (minus 21.4 percent). In our federal state there were 6,624 transactions, 1,800 fewer than in the first half of 2023. The registration value in Upper Austria amounted to 1.66 billion euros.
Only outlier Salzburg
In Vorarlberg, the number of transactions fell by 18.4 percent, in Lower Austria by 17.9 percent and in Vienna by 16.5 percent. The situation was somewhat better in Tyrol with a drop of 14.9 percent and in Burgenland with a drop of 11.2 percent. Salzburg was an outlier, where the number of registrations fell by only 0.8 percent.
However, according to Remax, the lowest point has probably been reached, as more applications for registrations were received in July and August 2024 than in the same months of the previous year.
Remax sees the temporary exemption from fees for land registry registration as a positive sign. The problem that even young high earners cannot get loans due to the KIM regulation with its strict requirements, although they could easily afford them according to their household budget, remains and intensifies competition among buyers for low-priced properties, says Remax managing director Bernhard Reikersdorfer.
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Image: Remax
Source: Nachrichten
