Comparison of federal states

Where house prices are rising – and where they are not

Interest in home ownership remains high: demand for apartments rose by 19 percent last year.

(Bild: gpointstudio / Westend61 / picturedesk.com)

Austria's real estate market is on the move again: After a brief breather in recent years, prices for condominiums are now skyrocketing again. According to an analysis by ImmoScout24, based on 181,000 listings, average prices per square meter rose by two percent in 2024.

For a 70-square-meter apartment, buyers now have to fork out an average of EUR 406,666 across Austria (see chart below). But despite the high costs, Austrians' interest remains high: inquiries for condominiums shot up by 19 percent last year.

Desire for own home or secure investment property
Markus Dejmek, Head of ImmoScout24 Austria: "The demand for condominiums is increasing. Higher rents, higher salaries and more stable financing conditions are ensuring that the desire for a home of one's own or a secure investment property is coming back into focus."

The trend towards rising prices has returned
In fact, the trend towards rising prices has returned in many regions. The frontrunner is Styria, where condominiums became four percent more expensive in 2024. The price per square meter climbed to 4312 euros. In Lower Austria (4527 euros/m²), Upper Austria (4500 euros/m²) and Vorarlberg (6797 euros/m²), prices rose by three percent each. In Salzburg there was an increase of two percent (6175 euros/m²), in Vienna prices rose by one percent (6587 euros/m²).

(Bild: Krone KREATIV/stock.adobe.com)

Costs only fell in one federal state
While prices remained stable in Carinthia and Tyrol (4902 euros/m² and 6928 euros/m² respectively), they actually fell by eight percent to 3909 euros per square meter in Burgenland. "This makes Burgenland the only federal state where buyers can expect lower prices than a year ago," says Dejmek.

Tyrol, Vorarlberg, Vienna: It gets really expensive here!
In terms of the overall price of an apartment, the price differences between the federal states remain enormous: Tyrol, Vorarlberg and Vienna are still the most expensive places. A 70-square-meter apartment costs an average of 484,940 euros in Tyrol, 475,765 euros in Vorarlberg and 461,078 euros in the Austrian capital. By contrast, buyers in Styria or Burgenland can rejoice: prices for a comparably sized apartment there are EUR 301,816 and EUR 273,636 respectively.

Markus Dejmek, Head of ImmoScout24 Austria: "Burgenland is the only federal state where buyers can expect lower prices than a year ago."

(Bild: ImmoScou24 / Artline Design®)

Boom in demand: Salzburg leads the way!
Demand for condominiums literally went through the roof last year - with an increase of 19 percent! The market is particularly hot in Salzburg, where the number of inquiries rose by 29 percent. This was followed by Tyrol and Vorarlberg with 22 percent each. Interest also increased by 20 percent in Vienna. There was also an upward trend in Upper Austria (+13%), Carinthia (+12%), Lower Austria (+11%), Burgenland (+7%) and Styria (+6%).

Conclusion: The dream of home ownership is alive and well
Despite rising prices, the dream of owning a home in Austria is more alive than ever. Whether as a safe investment or as a place of retreat - condominiums are once again in high demand. But is now really the perfect time to buy? That depends on the region - and how much you want to invest!