Austrian Property Market Runs out of Steam

Professional ServicesReal Estate ♦ Published: August 4, 2012; 14:03 ♦ (Vindobona)

In Austria, the property market shows first tendencies of consolidation. The number of acquisitions was down in the first six months.

Austrian Property Market Runs out of Steam / Picture: ©

In the first half year, investments in the Austrian real estate market totalled € 8.1bn. As a result, the trade volume was down by 2.4%. In total, 43,246 sales were counted. This corresponds to a decrease of 5% against the first half year of 2011. At the moment, the number of properties is constant. However, the price curve begins to flatten, experts say.

Vienna is still…