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The Hike of Real Estate Prices Is Ending
The rise of prices for real estate is slowly coming to an end. The Austrian Real Estate Association (OVI) reported in front of journalists that the prices have hit the ceiling now. However, this is not a drop in prices but just a stabilization of them. The demand for real estate has gone back in the last months.
January 10, 2023
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Real Estate in Austria: Highest Annual Increase in Purchase Prices of Houses and Apartments Since Records Began
Prices on the Austrian residential real estate market show a year-on-year price increase of 12.3% for 2021. This is the highest annual increase since the index series began in 2010 and is significantly higher than in previous years.
March 29, 2022
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Marina Tower: Completion of the Highest Residential Tower in Vienna
The highest residential tower in Vienna with 140 meters and 41 floors is successfully completed in these days.
February 10, 2022
Everything You Always Wanted to Know About China's Permanent Mission to the UN and Other International Organizations in Vienna
The villa and park complex at Hohe Warte in Vienna Döbling, which was sold to the People's Republic of China in 2013 for a reported € 21 million, and in which its UN embassy has been located since 2020 under the leadership of H.E. Ambassador Wang Qun, has a storied ownership history and already belonged to Hungarian-Habsburg high aristocrats, Yugoslavian war criminals and the City of Vienna, which used it as an orphanage and in which sexual child abuse was carried out.
January 25, 2022
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Demand for Luxury Real Estate in Austria Increased by 12 Percent Due to the Corona Situation
Luxury real estate demand increased by 12 percent in Austria in 2021, according to the Engel & Völkers Group. Read more about the luxury real estate trends in Austria and around the world.
January 17, 2022
Real Estate in Austria: Purchase Prices of Houses and Apartments Up 10.7 Percent
The Austrian House Price Index - prices on the residential real estate market - continue to rise. With an increase of 10.7% compared to the 1st half of 2020, the price increase for houses and apartments was significantly above the average of recent years. Detailed information on the house price index can be found below.
September 23, 2021
Real Estate: Property Becoming Increasingly Expensive in Austria
Real Estate prices continue to rise in Austria despite the COVID-19 pandemic. While the property market is becoming increasingly expensive, rents in Vienna remain fairly affordable. Learn the new cost of buying property in Austria and how it compares with the rest of Europe.
August 5, 2021
How Expensive is Rent in Austria?
The rent costs in Austria vary depending on the duration, region and type of rental segment. Find out more about the exact amounts you have to pay across Austria!
May 25, 2021
Austrians Cannot Afford Own Home
Fewer and fewer Austrians can afford to own their own home. Compared to 70 percent of the European population owning its own home, only 55 percent of Austrians are able to. Read more about the results of a recent housing study below!
May 19, 2021
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Austrian Residential Property Market: Prices Continue to Rise
The real estate market in Austria continues to boom. Last year again surpassed the record set the year before, with both sales and the value of properties sold continuing to rise in 2020 compared with 2019. The most expensive district outside Vienna remains Kitzbühel in Tyrol. Housing prices in a five-year comparison: Austria: +26%, Vienna: +21%, Burgenland: +47%, Vorarlberg: +45%, Carinthia: +18%. Find out how the Austrian real estate market works.
April 28, 2021
Properties for Development in Austria: Location, Location, Location
Property prices in Austria (average property prices and house price index) continued to show high price dynamics last year. The current average prices for plots, houses and apartments for development can be found below.
May 30, 2020
Where Are Austria's Properties Most Expensive?
Particularly sought-after locations can be found in urban areas and tourist centres. The two well-known winter sports resorts of Lech am Arlberg and Kitzbühel, with a price per square metre of 1,806 euros and 1,646 euros respectively for building plots, are at the top of the list. In Vienna, the districts of Döbling with 1,416 euros and Währing with 1,301 euros per square metre were in the lead.
June 13, 2019
Signa Buys Karstadt for €1
Austria's Signa Holding takes over struggling German department store chain Karstadt. Signa acquires a 100 per cent stake in Karstadt Warenhaus GmbH from Berggruen Holdings. Berggruen Holdings is going to withdraw from Karstadt Warenhaus GmbH, Karstadt Premium and Karstadt Sports as well as from from each property. The deal ends weeks of speculation over the company's future after the CEO left in July. Rene Benko will pay just €1 for the department store chain. Karstadt operates more than 80 stores across Germany and employs more than 17.000 people.
August 15, 2014
Immofinanz: Net Profit for 2013/14 at EUR 180 Mln, Property Sales Top EUR 1 Bln
Immofinanz Group announces net profit totalling EUR 180.4 million for 2013/14, for a year-on-year increase of 62.8%. Rental income was lower as a result of the extensive, planned property sales. The delayed completion of the GOODZONE shopping center in Moscow prevented the full recovery of this decline during the past year. Rental income amounted to EUR 506.7 million (-7.2%) and results of operations totalled EUR 319.2 million (-19.5%). In like-for-like comparison (i.e. after an adjustment for new acquisitions, completions and sales), rental income was generally stable (-1.3% to EUR 472.7 million). Property sales set a new record at roughly EUR 1 billion.
August 4, 2014
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Immofinanz Sells Two Logistics Properties in Poland and the Czech Republic
Immofinanz Group sold two logistics properties – the Bokserska Distribution Park in Warsaw and the Westpoint Distribution Park in Prague. Both transactions took place above book value, with the combined proceeds totalling approx. EUR 33.2 million. The Westpoint Distribution Park was sold to Central Group, a Czech investor, while the Bokserska Distribution Park was sold to “UK & European Investments“, a well-known family office from Great Britain.
July 28, 2014
Austria: Calls for More Competence in Real Estate Management Become Louder
Stock Exchange Guru Alexander Proschofsky and real estate expert Peter Hohlbein are fighting for a seat at Conwert’s administrative board. Proschofsky has been criticizing the strategy of the listed Austrian real estate company.
May 5, 2014
Austrian Households Hold Financial Assets Worth € 500bn
Last year, financial assets grew by 1.4% in nominal terms. New debts grew by 0.5% only.
April 24, 2014
Buwog Soon to be Listed at Three Stock Exchanges
Immofinanz‘ residential real estate affiliate Buwog will celebrate its IPO at the stock exchanges in Frankfurt and Vienna on Monday, April 28 and in Warsaw on Tuesday, April 29.
April 24, 2014
Vienna Real Estate Market Hopelessly Overstrained?
Real estate trustees in Vienna demand a limit to state-subsidized apartments and call for “unrestricted” rents.
April 23, 2014
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Romania: Huge Increase in Commercial Real Estate Investments
Investments in commercial real estates rose by 256 percent year-on-year in Romania. However, investments in CEE declined.
April 18, 2014
Discrepancies on Austrian Real Estate Market
Because of the high rents the city of Vienna intends to do away with location premiums. Listed real estate company Conwert announced raising its rents by May 1.
April 18, 2014
Czech Republic: Interest on Mortgage Loans Dropped
Interest ratest on mortgage loans dropped to a record low to 2.93 percent last month.
April 18, 2014
Immofinanz: Ownership Problems in Romania
According to a court decision Immofinanz has took over not legitimately acquired property in Transsylvania.
April 17, 2014
Conwert to Leave Germany?
A consortium of investors is highly interested in the German subsidiary of the Austrian real estate group. The consortium is led by conwert´s former board director Johannes Meran.
April 16, 2014
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Massive Dispute at Conwert
The Austrian real estate group faces troubles: representatives of small shareholders want to join the administrative council. Major shareholder Hans Peter Haselsteiner wants to dispatch his own representatives.
April 15, 2014
Vienna: Luxury Real Estate Segment Booms
In contrast to the general trend in Austria, the properties in Vienna become more and more expensive. About 25% of the apartments cost more than € 500,000.
April 15, 2014
Wealthy Investing in Real Estates in Vienna
Vienna is considered a “safe haven” for real estate investments. In particular, luxury homes, such as the Palais Principe for instance, are more than attractive for wealthy investors.
April 4, 2014
Massive Tensions in Vienna´s Residential Property Market
In Austrian capital, rents are increasing unstoppably. Demand is still much bigger than supply.
March 31, 2014
Slovenia: Controversial Property Tax Fails
The Slovenian Constitutional Court has rejected the controversial property tax suggested by the government. This will jeopardize this year’s budget.
March 28, 2014
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Slovenia: Chaos around Real Estate Tax Continues
On Thursday the Slovenian National Assembley will pass amendments to the highly debated real estate tax.
March 27, 2014
Austria: No Changes to Land Transfer Tax
There will be no tax hikes in the near future concerning the inheritance of property within families. The draft law of the Finance Ministry also includes the exemption of business successions.
March 24, 2014
Slovenia: Considerably Fewer Building Permits Issued
Almost a quarter fewer building permits were issued in January in Slovenia.
March 21, 2014
Conwert Achieves Turnaround
The Austrian real estate group returns to the profit zone. Last year, net income totaled € 49m.
March 19, 2014
Immofinanz: Substantial Increase in Profits
In the first nine months of 2013/14, the Vienna-listed group registered an increase in net income by 7.1%. For the time being, Immofinanz is not affected by the Crimea crisis.
March 19, 2014
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CA Immo: Considerable Drop in Net Income
Financial results 2013: CA Immo achieves record operating result. Balance sheet strengthened, Net Asset Value up 6%.
March 19, 2014
VBAG: Romanian Affiliate Sells Bad Loan Portfolio
The ailing affiliate of Austrian partly nationalized VBAG will sell its non-performing loans on a large scale.
March 18, 2014
Immofinanz: Buwog’s Spin-Off Approved
In an extraordinary shareholder meeting, the spin-off of residential real estate affiliate of Immofinanz was approved by the shareholders.
March 14, 2014
Austrian Real Estate Market Shrinks
In terms of transactions, the Austrian real estate market shrank by 12.5% last year. Nevertheless, the price level has reached new records.
March 6, 2014
Hungarian Property Market Crisis Sharpens
In 2013, the building activity in the residential property sector fell dramatically. A soon recovery is more than unlikely.
March 1, 2014
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“Polish Economy at Crossroads“
In an interview with Austrian daily “WirtschaftsBlatt“, Ryszard Petru, chairman of the Society of Policy Economists, sees high chances for the Polish economy; however, only if the country knows how to support innovation.
February 21, 2014
Austria: Real Estate Prices Still Soaring
Barely any other city in Europe saw prices rising as high for residential real estates as Vienna.
February 18, 2014
Real Estate: Vienna´s Office Market Saturated
In contrast to office markets in CESEE (Central, Eastern and Southeastern Europe), the Viennese office market has no major projects in the pipeline. The growth potential is rather limited.
February 15, 2014
Austrian Real Estate: Prices to Increase only in Vienna
While the property price level does not stop to increase in Austria´s capital, the rest of Austria faces stagnating property prices.
February 12, 2014
Viennese Real Estate: Roof Space Utilization is the Key
In Austria´s capital, living space is rather limited. In the next few years, shortages in the housing market will sharpen further.
February 5, 2014
Real Estate: Outskirts of Vienna Popular Among East Europeans
More and more well situated East Europeans discover the suburban regions surrounding the Austrian capital. Unlike in Vienna, property prices are going up steadily.
February 4, 2014
Upward Trend in Polish Property Market Continues
In Poland, the property market continues to grow significantly. There are no signs of a cool-down.
February 3, 2014
Real Estate: Why Austrians Prefer Rented Apartments
About 40% of the Austrian households are rented apartments. Most tenants cannot afford becoming homeowners.
February 3, 2014
Considerable Differences Across European Mortgage Markets
According to Fitch Ratings, the performance of European residential mortgage markets as a whole has improved. In Southeastern Europe, by contrast, the recovery will take some more time.
January 23, 2014
Insurance Industry Faces Growing Risks
According to the U.S. rating agency Fitch, insurers in Europe have to accept riskier investments. Ratings may deteriorate, Fitch warned.
January 22, 2014
Prices for Houses in EU Dropped Slightly
1.5 percent decrease of house prices in European Union.
January 22, 2014
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