In Lower Austria, the price increases are between 5.56 percent for single-family houses and 8.53 percent for building plots: This is shown by the real estate index 2023 of the Economic Chamber. Specialist group chairman Johannes Wild emphasizes: “The increases have actually halved compared to the last price index”. But they are still at a high level compared to before.
Districts that are directly connected to Vienna by public transport have hardly lost their popularity. In Baden, too, demand is still high and the percentage decline in price increases is by far not as high as the average for the entire federal state. When it comes to building plots, where there is an average price change of plus 8.53 percent across Lower Austria, Baden stands out with a change of 16.9 percent. At EUR 432.1 per square meter, the district is the second most expensive place in the country, behind Mödling at EUR 588.8. In Horn or in Waidhofen/Thaya, you can buy ten square meters of building land for this price per square metre.
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Graphic Gastegger
Baden is also in terms of apartment prices (ownership/first occupancy) at EUR 3,074.72 per square meter of living space
among the front runners, is behind Mödling (4,043 euros) and Korneuburg (3,249.9 euros) in 3rd place confirm the price list. “All in all, it can be said that the market had already slowed down considerably in autumn 2022. Stronger in some areas, weaker in others.” The commuter belt has meanwhile expanded from Mödling to Baden in good locations, “prices are catching up and will continue to do so,” she says. “Here we are noticing an upward trend again.”
According to List, the luxury segment has slowed down “because almost all real estate buyers are making their purchasing decisions more cautiously”. In the “normal” customer segment, i.e. in the area of young families/terraced houses/single-family houses, “the purchase market has slowed down drastically. It almost came to a standstill towards the end of last year,” says List. This is mainly due to the tightened credit criteria of the banks. In many cases, the financing could not be implemented with the banks.
“The issue of interim financing was a very serious issue,” List explains. She explains this using the following example: “A family that already owned a property (e.g. an apartment) and wanted to buy a larger property (e.g. a house) did not receive interim financing. That, too, has extremely slowed down the market.
According to List, the purchase prices are developing “from stagnating to slightly declining.” However, extreme price falls are “neither to be expected, nor are there any short-term price increases,” she surmises.
“The issue of interim financing was a very serious issue,” explains List
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Incidentally, the real estate price index can be sent by e-mail at bestellung-immo@wko.at be obtained.
