A drop in the ocean

  • Housing prices in Austria fell in 2023 for the first time since 2004. The decline of around 1.5 percent even improves the affordability of real estate, which has fallen over many years, by around 10 percentage points in relative terms in view of a sharp rise in incomes of almost 8 percent compared to the previous year.
  • In view of the widening gap between housing price and income growth over the past 20 years, however, this is just a drop in the ocean. In addition, the majority of the Austrian population cannot benefit from this price decline due to the increase in the cost of loan financing as a result of the ECB's monetary policy and because borrowing is made more difficult by legal measures.
  • The continued restrictive monetary policy with unchanged lending regulations for housing finance in Austria and the declining growth in housing demand point to another year of falling property prices, but only in the midsingle- digit range. In view of the further rise in construction prices, the sharp drop in building permits and the continued high demand for property investments, an overly strong price correction is not expected in 2024 either.

graphic development of real estate prices, consumer prices and income

→ Analyse real estate prices (PDF)

as of February 2024.

Analyses archive

2024

Real Estate prices (February 2024; PDF; 2MB)

2023

Construction industry (August 2023; PDF; 2MB)
Housing affordability (August 2023; PDF; 2MB)
Tourism in Austria (October 2023; PDF; 2MB)
Working time (June 2023; PDF; 2MB)
Holiday euro 2023 (May 2023; PDF; 2MB)

2022

Working time (November 2022; PDF; 2MB)
Real Estate Country Facts (November 2022; PDF; 2MB)
Energy Costs at sector level (October 2022; PDF; 2MB)
Holiday euro 2022 (June 2022; PDF; 2MB)
Cost of living (March 2022; PDF, 2MB)
Energy prices (March 2022; PDF; 2MB)
Housing prices (January 2022; PDF; 2 MB)

2021

Real Estate Country Facts (November 2021; PDF; 5 MB)
Comparison of industrial upswing in the federal states (October 2021; PDF; 2 MB)
Tax changes in Austria (October 2021; PDF; 2 MB)
Fuelling will soon be cheaper, but not in the long run (September 2021; PDF; 2 MB)
Revenue from tourism in the "year of the coronavirus" 2020 (May 2021; PDF; 2MB)
The effects of the first pandemic wave on the labour market (January 2021; PDF; 2MB)

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