Less Living Space: Austria Builds Significantly Less Than Before

The number of completed apartments in Austria significantly decreased in 2024. According to Statistics Austria, only 41,762 new apartments were built – a decline of over 20 percent compared to the previous year. A total of 54,472 new housing units were created, including renovations. The economy is thus feeling the delayed impact of the declining building permits from previous years.

Development Follows Trend in Building Permits

“The completions follow the trend of declining building permits with a time delay,” explained Statistics Austria Director General Manuela Lenk. The declines were particularly pronounced between 2022 and 2023, and only in 2024 did the curve slightly flatten. Nevertheless, fewer apartment completions are also expected in the coming years.

Vienna, Upper Austria, and Lower Austria Lead in Housing Construction

The most apartments were completed in Vienna in 2024 (12,478), followed by Upper Austria (9,084) and Lower Austria (9,055). This also included extensions, additions, and renovations. The lowest numbers were recorded in Burgenland, Carinthia, and Vorarlberg.

Measured by population, Vorarlberg was at the top with 8.7 apartments per 1,000 inhabitants, followed by Tyrol (6.9) and Vienna (6.2). The Austrian average was 5.9. Carinthia and Lower Austria were significantly below this.

Burglary in Single-Family Homes Particularly Severe

In 2024, 17,355 new buildings were constructed – almost a quarter less than the previous year. The decline affected all types of buildings. Single and two-family homes were particularly affected: their number fell by 25.4 percent to 10,635. The completion of multi-family houses decreased by 20.1 percent.

More Apartments Than Approved – As Last Seen in 2008

It is noteworthy that in the last three years more apartments were completed than approved – a phenomenon last observed during the financial crisis of 2007/08. In 2024, only 32,100 apartments were newly approved (minus 10.7 percent), significantly fewer than were completed.

Around 20.7 percent of the new apartments were built in single and two-family homes, 55.1 percent in multi-family houses. 23.3 percent of the units were accounted for by extensions, additions, or conversions.

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(APA/Red)

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