Austria's Real Estate: Single-Family Houses Expensive, Offices Cheap

Lifestyle & TravelPersonal Real Estate ♦ Published: January 5, 2021; 22:55 ♦ (Vindobona)

Also as a result of the Covid-19 crisis, living spaces with a garden, a balcony or a terrace see a significant increase in demand, while office spaces and other commercial real estate loses value. Another new aspect of the real estate market in Austria is the rise in demand for single-family houses in the outskirts of bigger cities.

Single-family houses will see a rise in demand and prices in Austria in 2021. / Picture: © Wikimedia Commons / Gregoryj77 at en.wikipedia [Public Domain]

Due to the Covid-19 pandemic, more people are drawn to the outskirts of the city or to the countryside.

"Living in the country is seen more attractive than one, two years ago," states the real estate network Re/max.

However, there are problems with the financability, because banks demanded …