Vienna as an Expensive Place: Prices for Houses and Apartments Rise Again in 2024

In 2024, approximately 340 euros less was paid per square meter for a condominium than in 2022, and the prices of residential houses were around 184 euros per square meter below the peak. For buildable land, the median price increased from 105 euros to 124 euros per square meter of land area.

Differences Between Federal States: Vienna and Vorarlberg as Price Leaders in Real Estate

The price gap between the federal states is wide. The leaders in house prices are Vienna (5,492 euros per square meter), Vorarlberg (5,077 euros), and Salzburg (5,000 euros), while Burgenland (1,804 euros) and Styria (2,411 euros) are the cheapest. A similar picture emerges for apartment prices. Here, Vorarlberg (4,962 euros) leads the list of expensive areas, followed by Vienna (4,941 euros) and Salzburg (4,926 euros). The cheapest apartments can be found in Burgenland (1,921 euros) and Styria (2,696 euros).

The price differences per square meter between houses and apartments are often due to the age of the properties, writes Statistics Austria. Houses are often bought second-hand, while many apartments are purchased new.

Prices for buildable land also increased last year. The median cost for a square meter of land in Austria is 124 euros, up from 105 euros in 2023 and 85 euros in 2022. Vienna and Vorarlberg stand out with a price of 786 euros and 689 euros per square meter, respectively. Tyrol is also clearly above average at 350 euros. A few, but expensive transactions in places like Kitzbühel or Lech drive the average up, writes Statistics Austria. In contrast, Burgenland (70 euros), Carinthia (85 euros), and Styria (91 euros) are noticeably below the median value.

>> More news on Vienna's urban development

(APA/Red.)

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