Lyla Lindsey
Austria's property market has been growing steadily, with property prices increasing markedly in 2020. The median price of an apartment for sale is €4,988/m², while the median price of a house is €4,059/m². The national average rent is €390 per month, with Vienna's average being the same. The different areas of Austria have quite different rental prices, with Lower Austria and Upper Austria prices in Carinthia ranging from EUR 3 100 to 3 300 per square meter (FHA) and EUR 250 000 to 310 000 (DH/SDH), respectively.
| Characteristics | Values |
|---|---|
| Average cost of a new house | €359,000 |
| Average cost of a new-build property in Styria | €300,000 |
| Average cost of a new-build property in Lower Austria | €338,000 |
| Average cost of a period property | €1,000,000 |
| National average rent | €390 per month |
| Vienna average rent | €390 per month |
| Lower Austria and Upper Austria prices in Carinthia | €3,100 to €3,300 per square meter (FHA) |
| Lower Austria and Upper Austria prices in Carinthia | €250,000 to €310,000 (DH/SDH) |
| Styria apartment cost | €2,560 per square meter |
| Burgenland house cost | €183,000 |
| Median price of an apartment for sale | €4,988/m² |
| Median price of a house for sale | €4,059/m² |
What You'll Learn
The average cost of a new house in Austria is €359,000
Interestingly, renovating old apartments has become a popular trend in Austria, particularly in cities like Vienna, which boasts many stunning 19th-century buildings. However, if you're looking to buy a unique period property, be prepared to spend at least one million euros.
Renting is also an option in Austria, with the national average rent sitting at €390 per month. Rent regulations in Austria mean that households only spend an average of 21% of their income on housing, which is relatively low compared to other countries. Additionally, there are plenty of protections for renters, as landlords have numerous obligations to their tenants.
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The average rent in Austria is €390 per month
The national average rent does not include running costs, and prices vary across the country. For example, in Vienna, the average rent is €390 per month. In Lower Austria and Upper Austria, prices in Carinthia range from €3,100 to €3,300 per square meter. In Styria, apartments often cost €2,560 per square meter, and in Burgenland, houses in rural areas typically cost €183,000.
The median price of an apartment for sale in Austria is €4,988/m², and the median price of a house is €4,059/m². A new house in Austria costs an average of €359,000, with new-build properties increasing in cost. For example, the average in Styria is just over €300,000, while in Lower Austria, it is €338,000. Renovating old apartments has become popular in recent years, and a unique period property will set you back at least one million euros.
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The median price of an apartment for sale is €4,988/m²
The cost of a house in Austria varies depending on the region. The median price of an apartment for sale is €4,988/m². This means that half of the apartments on the market are cheaper than this, and half are more expensive. The median price of a house for sale is €4,059/m².
In Styria, apartments often cost €2,560 per square meter, while in Graz, the important city in the region, prices are higher. In Burgenland, houses in rural areas typically cost €183,000. In Lower Austria and Upper Austria, prices in Carinthia range from €3,100 to €3,300 per square meter. In the same regions, prices range from €250,000 to €310,000.
Prices for residential properties have been increasing for years in all Austrian cities. Since 2016, the cost of homes in Klosterneuburg and Innsbruck has increased by more than 50%. Even the COVID-19 pandemic hasn't affected the real estate market in Austria, which continues to grow.
The national average rent in Austria is €390 per month, with Vienna's average being the same. Rent regulations mean that households only spend an average of 21% of their income on housing, which is very low compared to countries like the UK and the US.
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The average cost of a new-build property in Styria is just over €300,000
The cost of property in Austria varies depending on the area. For example, Lower Austria and Upper Austria prices in Carinthia range from €3,100 to €3,300 per square meter. The average rent in Austria is €390 per month, which is very low in comparison to countries such as the UK and the US, where households spend an average of 21% of their income on housing.
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The average cost of a new-build property in Lower Austria is €338,000
The cost of property in Austria has been increasing in recent years, with property prices increasing markedly in 2020, even during the COVID-19 pandemic. Despite this, the average rent in Austria is relatively low compared to other countries, at €390 per month. This is due in part to rent regulations, which mean that households only spend an average of 21% of their income on housing.
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Frequently asked questions
The median price of a house for sale in Austria is €4,059/m². A new house in Austria costs an average of €359,000.
The national average rent is €390 per month.
The median price of an apartment for sale is €4,988/m².
A unique period property will cost at least one million euros.
Prices in Lower Austria range from €3,100 to €3,300 per square meter.
