Buying property in Austria has long been an attractive option for foreigners seeking a permanent base in the country. However, rising prices in recent years have made this goal increasingly difficult, especially in popular regions such as Vienna, Tyrol, and Salzburg.
But there's still good news: some parts of Austria continue to offer comparatively affordable homes.
Here's your guide to where the best property deals can be found and what you can expect to pay.
Which Austrian states offer the cheapest property?
If affordability is your priority, Burgenland is currently the standout option. According to recent data from property platform ImmoScout24, Burgenland was the only Austrian state to see a decline in property prices last year. The price per square meter fell by 8 percent in 2024, down to €3,909.
READ ALSO: Why Austria’s property prices could rise again by 2026
This means a typical 70-square-metre apartment in Burgenland now costs around €273,636—making it Austria’s most budget-friendly location for home buyers.
Styria is another affordable region where prices remain relatively low despite a recent increase. A similar-sized apartment there costs approximately €301,816, even though prices rose 4 percent to €4,312 per square meter in 2024.
Why are prices rising again?
Property prices have started climbing again across most of Austria after a brief pause in 2022 and 2023.
Last year, condominium prices increased by an average of 2 percent nationwide. According to Markus Dejmek, Head of ImmoScout24 Austria, demand for condos is bouncing back due to "higher rents, higher salaries, and more stable financing conditions."
This renewed interest means buyers in popular areas can expect more competition and, consequently, higher prices. However, not every region is experiencing the same level of price pressure.
READ ALSO: The most affordable districts to live in Vienna
Expensive hotspots remain costly
Tyrol (€6,928 per sqm), Vorarlberg (€6,797 per sqm), and Vienna (€6,587 per sqm) remain Austria’s most expensive property markets. A standard 70-square-metre apartment in these areas can set buyers back almost half a million euros—€484,940 in Tyrol, €475,765 in Vorarlberg, and €461,078 in Vienna.
Even Salzburg (€6,175 per sqm) remains challenging for bargain hunters. The state's market is thriving, with property prices rising 2 percent and demand increasing by an impressive 29 percent in 2024.
Moderate pricing in central Austria
Regions such as Upper and Lower Austria offer a middle ground.
Property prices in both states rose by 3 percent last year, reaching €4,500 and €4,527 per square metre, respectively. This means an average-sized apartment (70 sqm) costs around €315,000 in Upper Austria and €316,863 in Lower Austria—still considerably cheaper than Vienna or Tyrol.
These central states offer good value, particularly considering their proximity to major urban areas and strong local economies.
READ ALSO: Gemeindebau: How do you qualify for a social housing flat in Vienna?
Is cheaper always better?
Choosing an affordable property location like Burgenland or Styria can mean significant savings. However, it's important to consider your lifestyle and long-term goals.
Although cheaper, rural areas might offer fewer employment opportunities, cultural amenities, or international connections than cities like Vienna or Salzburg.
That said, towns and smaller cities in affordable states often boast good infrastructure, charming surroundings, and lower overall living costs.
Graz, the capital of Styria, offers urban amenities at a fraction of Vienna’s property prices. At the same time, Burgenland’s proximity to both Vienna and neighbouring countries makes it increasingly appealing to commuters and retirees alike.
READ ALSO: How can I move into affordable cooperative housing in Vienna?
Will prices continue to rise?
ImmoScout24's data suggests that the demand for condominiums will likely keep prices on an upward trend, particularly in popular urban areas. Dejmek expects that as long as rents remain high and financing conditions favourable, the appeal of buying property as an investment or home will persist. However, Burgenland’s current price drop suggests that some regions may experience price corrections or stagnation, which could offer opportunities for buyers.
Comments (2)