Surge in Demand for Houses as Prices Decline Across Austrian Regions
Austria’s real estate market underwent a dynamic transformation in 2024, marked by a significant surge in the demand for single-family homes alongside fluctuating property prices across the country. While potential homeowners increasingly entered the market, drawn by improved financing conditions and relaxed credit regulations, regional price trends revealed a complex picture.
Austria’s real estate market underwent a dynamic transformation in 2024. ome areas witnessed price declines, offering opportunities for buyers, while others continued to see rising costs, especially in high-demand regions like Tyrol and Vienna. / Picture: © Wikimedia Commons / Gregoryj77 at en.wikipedia [Public Domain]
In 2024, Austria witnessed a notable shift in its real estate landscape. The demand for single-family homes surged by an average of 15% compared to 2023, with some regions experiencing even more significant growth. Vorarlberg led with an impressive 56% increase in demand, followed by Vienna at 25% and Carinthia at 24%. This rise in interest was attributed to the prospects of more favorable financing conditions and eased credit regulations, which invigorated the housing market throughout the year. As Markus Dejmek, Austria's head of ImmoScout24, remarked, "The desire for homeownership remained a constant in the life planning of Austrians, as evidenced by the rising demand."
Despite the increased demand, property prices exhibited mixed trends across the country. The average price per square meter remained stable at €3,836, showing no change from the previous year. However, regional disparities were evident. For instance, Styria saw a 6% decrease in prices (€3,163 per sqm), Vorarlberg's prices dropped by 5% (€5,500 per sqm), and Burgenland experienced a 3% reduction (€2,423 per sqm). Conversely, prices rose in Salzburg by 5% (€5,789 per sqm), in Tyrol by 2% (€7,163 per sqm), and in Vienna by 1% (€6,414 per sqm). Tyrol remained the most expensive region to purchase a home, followed closely by Vienna and Salzburg.
The cost of a standard 150-square-meter house varied significantly depending on the region. In Burgenland, such a home could be acquired for approximately €363,480, making it the most affordable option. On the other end of the spectrum, buyers in Tyrol faced the highest costs at €1,074,519, while in Vienna, similar properties were priced at €962,144. Other regions presented a wide range of prices: Salzburg (€868,421), Vorarlberg (€825,000), Lower Austria (€538,400), Upper Austria (€497,144), Carinthia (€454,592), and Styria (€474,375).
These findings were derived from an analysis conducted in February 2025, which examined 78,576 data points from house listings on ImmoScout24.at spanning 2023 and 2024. The study employed the median as the primary statistical measure, ensuring a balanced reflection of market trends by minimizing the influence of extreme outliers.