FOR MEMBERS

Renting in Austria: Where is expensive – and where can you find a bargain?

Renting in Austria: Where is expensive - and where can you find a bargain?
hoto: Tobias SCHWARZ / AFP
The coronavirus pandemic has shaken up Austria's rental market. Here's where costs have risen - and the one state where rental costs have fallen.

Across Austria, rents rose on average 14 euros per square metre in 2020 – an increase of five percent on prices from 2019. 

Rents rose in all but one Austrian state. Predictably, rents are the highest in the urban and western states, particularly Vienna and Tyrol. 

READ MORE: Is it better to buy or to rent property in Austria?

Rents increased sharply in Vienna in 2020 – by €15.8 per square metre (4.8 percent). 

Rents also rose in the west of the country. In Tyrol, there was an increase of €16 per square metre (5.1 percent). 

Tyrol remains the most expensive state in Austria to rent a property, while Vienna is the second most expensive. 

In Vorarlberg, there was an increase of 4.1 percent – or €15 per square metre, making it the third most expensive state for rentals in Austria. 

Rents declined in only one Austrian state – Burgenland, where they fell by 2.4 percent or €9.30 per square metre. 

Burgenland remains the cheapest state in Austria when it comes to rental prices, followed by Lower Austria where the costs are €11.20 per square metre (a 0.5 percent increase on 2019 prices). 

Where has the demand for houses risen the most in Austria? 

The impact of the pandemic and the subsequent lockdown has meant that homes with gardens are more popular than ever. 

“Although our current trend study shows that Austrians are basically satisfied with their living situation, the dream of owning their own house has become firmly entrenched for many in 2020,” said ImmoScout managing director Markus Dejmek. 

The demand has been greatest in the extended suburbs of Vienna and Graz, where urban residents have been looking to get a little more green space. 

The increase in house demand has also been felt in a number of other Austrian states. 

According to ImmoScout, demand has been particularly strong for second homes or holiday homes. 

The highest increase was in Carinthia, where demand grew by approximately 76 percent. 

In Lower Austria (63 percent), Styria (59 percent) and Burgenland (55 percent) demand also grew dramatically. 


Member comments

Become a Member to leave a comment.Or login here.