After a price decline in 2023, houses and apartments became slightly more expensive on average again in Austria in 2024. The median price per square meter for a condominium rose from €3,991 to €4,000, and for houses the square-meter price rose from €2,661 to €2,709, Statistics Austria reported on Wednesday. Compared to the peak values of 2022, however, apartments and houses remain cheaper.

Thus, in 2024 about €340 less was paid per square meter for a condominium than in 2022, and residential house prices were about €184 per square meter below their 2022 peak. For developable land plots, the median price increased from €105 to €124 per square meter of land area.

Differences between federal states
The gap in prices between the federal states is wide. Leaders in house prices are Vienna (€5,492 /m²), Vorarlberg (€5,077 /m²) and Salzburg (€5,000 /m²), while Burgenland (€1,804 /m²) and Styria (€2,411 /m²) are cheapest. A similar pattern appears for apartment prices. Here Vorarlberg (€4,962 /m²) tops the list, followed by Vienna (€4,941 /m²) and Salzburg (€4,926 /m²). Apartments are cheapest in Burgenland (€1,921 /m²) and Styria (€2,696 /m²).

Statistics Austria notes that the per-square-meter differences between houses and apartments often reflect the age of the properties. Houses are often bought second-hand, whereas many apartments are purchased as new builds.

Plot prices rose sharply
Prices for developable plots also rose last year. The median cost per square meter of land in Austria is €124, up from €105 in 2023 and €85 in 2022. Vienna and Vorarlberg stand out at €786 and €689 /m² respectively. Tyrol at €350 /m² is also clearly above the average. A few expensive transactions in locations like Kitzbühel or Lech push the average upward, Statistics Austria writes. By contrast, Burgenland (€70), Carinthia (€85) and Styria (€91) lie noticeably below the median.