Residential Real Estate - Austria

  • Austria
  • The Residential Real Estate market market in Austria is expected to reach a value of US$2.47tn by 2024.
  • This projection indicates a potential annual growth rate (CAGR 2024-2029) of 2.32%, resulting in a market volume of US$2.77tn by 2029.
  • When compared globally, China is anticipated to generate the highest value in the Real Estate sector, amounting to US$112.9tn by 2024.
  • The demand for luxury apartments in Austria is on the rise, particularly in Vienna, due to the country's stable economy and high standard of living.

Key regions: Europe, Brazil, France, Asia, United States

 
Market
 
Region
 
Region comparison
 
Currency
 

Analyst Opinion

The Residential Real Estate market in Austria is experiencing significant growth and development.

Customer preferences:
Austrian customers are increasingly looking for properties that offer modern amenities and are energy-efficient. They prioritize properties that are located in well-connected areas with easy access to transportation and amenities such as schools, shopping centers, and recreational facilities. Additionally, there is a growing demand for properties that offer a high level of security and privacy.

Trends in the market:
One of the key trends in the Austrian Residential Real Estate market is the increasing popularity of urban living. Many people are choosing to live in cities due to the convenience and accessibility they offer. As a result, there is a high demand for apartments and condominiums in city centers. This trend is driven by factors such as the desire for a vibrant social and cultural scene, proximity to job opportunities, and the availability of amenities. Another trend in the market is the rise in demand for sustainable and eco-friendly properties. Austrian customers are becoming more conscious of their environmental footprint and are seeking properties that are built using sustainable materials and energy-efficient technologies. This trend is driven by factors such as government incentives for energy-efficient buildings and the desire to reduce utility costs in the long run.

Local special circumstances:
Austria has a stable and well-regulated real estate market, which provides a sense of security to both buyers and sellers. The country has strict building regulations and standards, ensuring that properties meet high-quality standards. Additionally, Austria has a strong rental market, with many people choosing to rent rather than buy properties. This is driven by factors such as the high cost of homeownership and the flexibility that renting offers.

Underlying macroeconomic factors:
The Residential Real Estate market in Austria is influenced by several macroeconomic factors. The country has a strong economy and low unemployment rate, which has contributed to the growth of the real estate market. Additionally, low interest rates have made it more affordable for individuals to borrow money for purchasing properties. Furthermore, Austria attracts a significant number of foreign investors, particularly from neighboring countries, who see the country as a safe and attractive investment destination. In conclusion, the Residential Real Estate market in Austria is experiencing growth and development, driven by customer preferences for modern and energy-efficient properties, the trend of urban living, and the demand for sustainable housing. The local special circumstances, such as a well-regulated market and a strong rental market, contribute to the stability of the market. Moreover, underlying macroeconomic factors, including a strong economy and low interest rates, further support the growth of the market.

Methodology

Data coverage:

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

Modeling approach:

Market size is determined by a combined top-down and bottom-up approach. We use national statistics, international organizations, and industry associations to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country specific industry associations such as GDP, price level index, household wealth, household size, number of renter and owner households, housing consumer spending per capita.

Forecasts:

We use a variety of forecasting techniques, depending on the behavior of the market, for instance, 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:

Data is modeled using current exchange rates. 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.

Overview

  • Value
  • Volume
  • Analyst Opinion
  • Transaction Value
  • Revenue
  • Household Type
  • Real Estate Type
  • Community Size Split
  • Living Space
  • Methodology
  • Key Market Indicators
Please wait

Contact

Get in touch with us. We are happy to help.
Statista Locations
Contact Meredith Alda
Meredith Alda
Sales Manager– Contact (United States)

Mon - Fri, 9am - 6pm (EST)

Contact Yolanda Mega
Yolanda Mega
Operations Manager– Contact (Asia)

Mon - Fri, 9am - 5pm (SGT)

Contact Ayana Mizuno
Ayana Mizuno
Junior Business Development Manager– Contact (Asia)

Mon - Fri, 10:00am - 6:00pm (JST)

Contact Lodovica Biagi
Lodovica Biagi
Director of Operations– Contact (Europe)

Mon - Fri, 9:30am - 5pm (GMT)

Contact Carolina Dulin
Carolina Dulin
Group Director - LATAM– Contact (Latin America)

Mon - Fri, 9am - 6pm (EST)