Rental prices in Austria explode: Salzburg leads with a 17% increase!

Rental prices in Austria explode: Salzburg leads with a 17% increase!

Eisenstadt, Österreich - The rental prices in the Austrian state capitals continue to rise steeply. According to a current analysis by Immoscout24, which is based on over 74,000 advertisements, Salzburg has the highest increase with +17%, with the average price of EUR 22.28 per square meter. For comparison: In the previous year, this price was still 19.10 euros. With 24.75 euros per square meter, Innsbruck remains the most expensive city, here too there was a remarkable increase of 12% compared to the previous year. Linz is also following a price increase from 12% to 15.81 euros per square meter. As for Vienna, prices increase by 9% and reach an average of EUR 20.42 per square meter. This makes it difficult for many to find a suitable home.

Bregenz shows an increase to 20.19 euros per square meter (+9%), while Eisenstadt also does not lag behind with 14.41 euros (+7%). With a moderate increase of only 4% to 13.64 euros per square meter, Graz is an exception, while St. Pölten remains one of the last "affordable" cities with 12.90 euros. The analysis mentioned takes into account gross rents, i.e. net rental plus operating costs, which makes the situation even more complicated for the tenants. The methodology based on the median also shows that 50% of the rental apartments are cheaper and 50% more expensive.

regional differences and trends

A look at the development of rental prices shows that the price increases in Tyrol, Salzburg and Vienna now exceed the limit of 20 euros per square meter for the first time. Compared to previous years, specifically for the first quarter of 2024, the cities mentioned show double -digit growth in the offer prices. This development cannot be overlooked: Salzburg and Innsbruck have emerged as hotspots.

not to be neglected is the fact that the average rent per square meter (without operating costs) has increased significantly since 2006 - from EUR 3.78 in 2006 to 7.40 euros in 2024. That is almost 96%! The cheap rents that are offered, for example in municipal buildings or cooperative apartments, are not included in these average prices.

market forecasts and challenges

While the demand for residential properties and construction costs are still high, a stagnating development of rents in the high price segment will not become normal. Further price increases can be expected, especially in top locations. The forecasts indicate that population growth and the limited number of new buildings could lead to even higher rents in the medium term. In addition, the guideline rents for new contracts have been increased by 8.6 % since April 1, 2023, which concerns about 750,000 tenants: inside.

What does the future look like for tenants: inside? A possible solution could be the property purchase for self -use, especially for those who want to stay in your apartment in the long term. Because even if there could be a stabilization of rental prices at short notice, for most people there is still an affordable place to stay in the growing city. Anyone who has a good hand and consider investments in their own four walls could thus efficiently escape the rental price pressure

For more information and details on the rental prices in the state capitals, you can use the analyzes to Krone , Immoscout24 and Infina read.