Student Apartments Are Getting more Expensive in Austria
In 4 out of 6 student cities across Austria, the rent for single apartments which are mostly used by students are increasing. Only in Graz and in Linz the cost of the rent is experiencing a slight decline.
Apartments are getting more expensive in most of the Austrian student cities. / Picture: © Flickr / Martin Abegglen (CC BY -SA 2.0)
The online market place immowelt.at analysed the trend of the rent costs of single apartments with up to 40 m² which are mostly used by students. They compared the data from the first half of the year 2019 with the first of 2020.
Even though, the Coronavirus will lead to a more digitalized teaching approach where the attendance at the universities is not explicitly needed, in two thirds of the main student cities in Austria the rent for small apartments are still increasing.
In Vienna the average rent rose by 2% up to 560 Euros. There has not been any impact from the Coronavirus as also the registration numbers for the universities did not decrease much. Vienna is hosting the biggest universities in Austria and they will offer a mixture of online and offline classes the next term.
Moreover, the numbers of students living in Vienna is not significant enough to have a main influence on the flat market.
Compared to Vienna the rents of small flats augmented even more in Salzburg, Innsbruck and Klagenfurt.
In Salzburg, a single apartment costs this year about 570 Euros which is an increase by 2%. Registration numbers show also here that the interest in studying does not diminish.
Innsbruck is the most expensive city for students to live in with an average rent of 630 Euros (+3%). In general, the registrations faded in the capital of Tyrol however many singles and commuters are also looking for such small apartments.
Students in Klagenfurt have to deal with the highest increase in rents by 8%. Nonetheless, the average costs are still moderate with 430 Euros per month for a small single apartment.
Only in Linz and Graz the rent slightly declined.
Less students will start studying in Graz in autumn which can be seen by the cancellation of some entry exams. This might be a reason for the fall in rent by 2% down to 430 Euros.
In Linz the rent dropped by 5% to 420 Euros. However, the registrations were stable compared to last year. A reason can be price correction rather than a direct impact from the Coronavirus.