Austrian Real Estate Market Shrinks

Professional ServicesReal Estate ♦ Published: March 6, 2014; 06:48 ♦ (Vindobona)

In terms of transactions, the Austrian real estate market shrank by 12.5% last year. Nevertheless, the price level has reached new records.

Since 2007 property prices were up by 80%. / Picture: ©

In 2013, about 81,000 properties were sold in Austria last year. Compared to 2012, this is a reduction of 12.5%. The total value of real estate transactions came at € 16.03bn and was down by 8.3%. These data were released by Re/max Austria.

The most traded properties were owner-occupied apartments. In 2013, 28,500 units were sold, which is a decrease by 9% against 2012. The…