Purchase prices down

The dream of owning your own home is becoming cheaper again

According to the sales platform ImmoScout24, prices in Upper Austria have fallen compared to the previous year. At the same time, supply and demand have risen sharply. However, there has been little movement in the "dynamic purchase market" for condominiums.

A count's estate near Lake Wolfgangsee, surrounded by the magnificent Alps, for 44 million euros. A turnkey new-build project in the center of Linz for 25 million euros. Or a dreamlike lakeside property with a modern villa and spectacular boathouse in Schörfling am Attersee for 18.9 million euros: These are the three most expensive properties in Upper Austria currently offered for sale on the ImmoScout24 website.

Regional differences
Even if these prices sound utopian, the general average house costs have fallen compared to the first half of 2023. "The detailed analysis shows striking regional differences in price trends, especially for houses. House prices are falling the most in Vorarlberg, Carinthia and Upper Austria," confirms Markus Dejmek, Head of ImmoScout24 Austria.

In comparison, interest in buying is rising sharply again. House prices are falling the most in Vorarlberg, Upper Austria and Carinthia.

Markus Dejmek, Österreich-Cehf von ImmoScout24

200 euros per square meter
The average price per square meter for houses in Land ob der Enns has fallen by just over 200 euros - see also the chart below. In a district comparison, Rohrbach - with a drop of 28% - and Freistadt (minus 18%) stand out positively. In contrast, prices rose the most in the districts of Schärding (up 13%) and Steyr-Land (8%).

(Bild: Krone KREATIV/stock.adobe)

More supply and demand
Presumably also thanks to the fall in prices, interest in properties for sale grew in the first half of the year - and there is also significantly more on offer again. "While a slight downward trend in prices can largely be observed for houses, condominiums are still slightly more expensive than in the previous year in most regions," says Dejmek. This trend can also be seen in Upper Austria with a slight increase of two percent. In the Kirchdorf district, prices even rose by 23 percent.