Not only have food and fuel prices increased in recent months, the dream of home ownership is also becoming increasingly expensive. In Vienna, rents were even cheaper than in Linz, averaging €8.66 per square meter.
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According to the Deloitte Property Index 2022, the price per square meter for new apartments in Austria has increased by an average of 11% in 2021. It may come as a surprise, but rent in Linz is more expensive than in the federal capital Vienna.
Linz is more expensive than Vienna
By comparison, Vienna is even cheaper at €8.66 per square meter than other domestic cities like Linz at €10.22 or Graz at €10.40 per square meter. To the surprise of many, Vienna can once again live up to its reputation as an affordable city for rent in this year’s review. In Paris, for example, you have to count on a price per square meter of 29.10 euros.
Buying real estate is getting more and more expensive
Buying real estate is becoming increasingly difficult to pay for. The average price per square meter in 2021 for new apartments in this country was 4,782 euros. This means an increase of about 11%. And the price increase continues: according to current analyses, property prices rose by almost 13% in the first quarter of 2022. This means that Austria – along with Germany and France – is now one of the most expensive European countries that participate in the Property Index. UK homebuyers have to pay more: the price per square meter is 4,905 euros.
Austria remains European champion in construction projects
In terms of residential construction projects per 1,000 inhabitants, it is clear again: nowhere are more construction projects being planned than in Austria. In 2021, a total of 10.6 projects were started per 1,000 inhabitants. Poland with 7.3 and Slovenia with 6.1 construction projects per 1,000 inhabitants follow a considerable distance. Italy ranks last in the Deloitte study with 1.0 construction projects initiated per 1,000 inhabitants.