Cost of living: Where are rents rising fastest in Austria?
Once again the west of Austria records the highest rental prices, but where exactly are prices going up the fastest? Here's the latest data from Statistics Austria.
Inflation is rising steadily in Austria and housing costs are significantly contributing to the higher cost of living - especially in Salzburg that continues to have the highest prices in Austria.
According to the latest data from Statistics Austria, the average rental price in Salzburg during the first three months of 2022 was €10.17 per sqm.
To compare, Burgenland - the region with the lowest rental prices - recorded an average of €6.57 per sqm, and the national average was €8.50.
READ ALSO: Reader question: Could Austria scrap the broker’s fee on apartment rentals?
Vienna was the fourth most expensive place for rent in Austria with the average price for a sqm at €8.79. Vorarlberg was second at €10.07 per sqm, and Tyrol was third at €9.53.
The average national monthly rent (including operating costs) in the first three months of 2022 was €567.50 for an apartment, up by 1.3 percent from Q4 in 2021, when it was €559.10.
In Q1 2021, the average national monthly rent was €551.30.
The average costs are influenced by a number of factors, such as whether the building is old or new (Altbau or Neubau) and the size of the property.
READ MORE: Why some households in Vienna are set for a gas price hike
More people living alone in Austria
The Statistics Austria data also reveals that more people are now living in single-person households.
In 2010, the share of people living alone in Austria was 36.2 percent, but in 2022 the figure was 38 percent - an equivalent of 1.5 million more single-person households.
This is significant because people living alone often have a heavier financial burden and are more impacted by rising living costs.
In Austria, 10 percent of households already spend almost half of their budget on housing, with single women over the age of 60 most affected by this.
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Inflation is rising steadily in Austria and housing costs are significantly contributing to the higher cost of living - especially in Salzburg that continues to have the highest prices in Austria.
According to the latest data from Statistics Austria, the average rental price in Salzburg during the first three months of 2022 was €10.17 per sqm.
To compare, Burgenland - the region with the lowest rental prices - recorded an average of €6.57 per sqm, and the national average was €8.50.
READ ALSO: Reader question: Could Austria scrap the broker’s fee on apartment rentals?
Vienna was the fourth most expensive place for rent in Austria with the average price for a sqm at €8.79. Vorarlberg was second at €10.07 per sqm, and Tyrol was third at €9.53.
The average national monthly rent (including operating costs) in the first three months of 2022 was €567.50 for an apartment, up by 1.3 percent from Q4 in 2021, when it was €559.10.
In Q1 2021, the average national monthly rent was €551.30.
The average costs are influenced by a number of factors, such as whether the building is old or new (Altbau or Neubau) and the size of the property.
READ MORE: Why some households in Vienna are set for a gas price hike
More people living alone in Austria
The Statistics Austria data also reveals that more people are now living in single-person households.
In 2010, the share of people living alone in Austria was 36.2 percent, but in 2022 the figure was 38 percent - an equivalent of 1.5 million more single-person households.
This is significant because people living alone often have a heavier financial burden and are more impacted by rising living costs.
In Austria, 10 percent of households already spend almost half of their budget on housing, with single women over the age of 60 most affected by this.
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