Real Estate - Austria | Statista Market Forecast

The Real Estate market market in Austria is expected to reach a projected value of US$3.03tn in 2024.
Residential Real Estate holds the largest share in this market, with a projected market volume of US$2.47tn in the same year.
It is anticipated that the market will experience an annual growth rate of 2.07% from 2024 to 2029, resulting in a market volume of US$3.36tn by 2029.
In comparison to other countries, United States is projected to generate the highest value in the Real Estate market market, reaching US$132.0tn in 2024.
The real estate market in Austria is experiencing a surge in demand for luxury properties in Vienna.

Definition:

The real estate market refers to the transaction of properties, including residential properties (such as houses and apartments) and commercial properties, such as office buildings and industrial properties. Apart from property sales, this market includes leases and the value of real estate.

Structure:

The real estate market comprises residential and commercial real estate. The residential real estate market covers real estate transactions and leases, and residential real estate leases are divided into apartment and house leases.

Additional information:

The market contains the following KPIs: real estate value aggregated for all countries and regions, average real estate value, real estate transaction revenue, number of real estate sold, number of leased and owned real estate, average room per resident, and dwelling type shares. The dwelling type shares comprise the share of the population that lives in houses and apartments. These shares are displayed for real estate owners and real estate renters as well.

Residential real estate (houses and apartments)
Commercial real estate (office buildings, retail spaces, warehouses, industrial properties)

Real estate agencies
Construction companies
Accommodation services, such as Airbnb
Commercial real estate leases and transactions
Publicly owned buildings used by the local government
Buildings used for public health care services

The Real Estate market in Austria has been experiencing significant growth and development in recent years.

Customer preferences: Austrian customers have shown a strong preference for investing in the Real Estate market. This can be attributed to several factors, including the stability of the market and the potential for high returns on investment. Additionally, Austrians tend to view Real Estate as a safe and tangible asset, making it an attractive option for long-term investment.

Trends in the market: One key trend in the Austrian Real Estate market is the increasing demand for residential properties, particularly in urban areas. This can be attributed to a growing population and an influx of young professionals who are seeking housing in cities. As a result, developers are focusing on building more residential properties to meet this demand. Another trend in the market is the rise of sustainable and energy-efficient buildings. Austrians are becoming more conscious of the environmental impact of their choices, and this is reflected in their preferences for Real Estate. Developers are responding to this demand by constructing buildings that are energy-efficient and incorporate sustainable features.

Local special circumstances: Austria's location in the heart of Europe makes it an attractive destination for both tourists and businesses. This has led to an increase in demand for commercial properties, such as hotels and office spaces. Additionally, Austria's strong economy and political stability make it an appealing location for foreign investors, further driving the demand for Real Estate.

Underlying macroeconomic factors: Several macroeconomic factors contribute to the development of the Real Estate market in Austria. Firstly, low interest rates make it more affordable for individuals and businesses to borrow money for Real Estate investments. This has stimulated demand in the market and led to an increase in property prices. Furthermore, Austria's strong economic growth and low unemployment rate have contributed to a rise in disposable income. This has increased the purchasing power of Austrians, allowing them to invest in Real Estate. In conclusion, the Real Estate market in Austria is experiencing significant growth and development. Customer preferences for Real Estate as an investment, the increasing demand for residential and sustainable properties, and the country's attractive location and strong economy are all contributing to this trend. Additionally, underlying macroeconomic factors such as low interest rates and strong economic growth are further driving the market.

Data coverage:

Figures are based on value of residential and commercial real estate, average real estate value, residential estate transactions and leases.

Modeling approach / Market size:

Market sizes are determined by a combined Top-Down and Bottom-Up approach, based on a specific rationale for each market segment. As a basis for evaluating markets, we use data from international organizations and industry associations. Next we use relevant key market indicators and data from country-specific associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita. This data helps us to estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the particular market. For example, exponential trend smoothing. The main drivers are GDP per capita, population, number of renter and owner households, price level index, housing consumer spending per capita.

Additional Notes:

The market is updated twice per year in case market dynamics change. The impacts of the Russia-Ukraine war are considered at a country-specific level.

This report presents a comprehensive analysis and additional information on the Financial market, in a PDF format.

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Real Estate - Austria

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