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High real estate prices: Where record prices were achieved in 2024!
Find out more about the most expensive real estate transactions in Austria in 2024 and the latest market analyzes in Germany.
High real estate prices: Where record prices were achieved in 2024!
In 2024, notable developments were recorded on the real estate market in Austria. Willhaben conducted a comprehensive land registry analysis focusing on transactions between January 1, 2024 and December 31, 2024. It turned out that most residential property transactions in absolute numbers took place in Graz-Stadt (2,283), Linz-Stadt (1,071) and Innsbruck-Land (1,070). These cities show high real estate turnover and reflect the demand for living space in urban centers.
However, there are also large regional differences when looking at the number of transactions relative to the number of inhabitants. Most of the bookings were recorded in Hollabrunn (Lower Austria), Eisenstadt-Stadt (Burgenland) and Mistelbach (Lower Austria). In contrast, Rohrbach (Upper Austria), Vienna Simmering and Hartberg-Fürstenfeld (Styria) had the fewest transactions relative to each resident.
High real estate prices
The price development on the real estate market does not go unnoticed. The highest purchase price for a single-family home was achieved in Jochberg, Tyrol for a whopping 34.68 million euros. High prices of 22.46 million euros and 14 million euros were also recorded in Vienna Währing and Vienna Hietzing. When it comes to apartments, Kitzbühel leads with a purchase price of 7.12 million euros. This is followed by Vienna's 1st district with 6.65 million euros and Salzburg City with 4.15 million euros.
The top 3 transactions by purchase price include an office building in Vienna-Landstrasse, which was sold for 158.5 million euros, as well as an apartment building in downtown Vienna for 127 million euros and another building in Vienna-Neubau for 100.5 million euros.
Most expensive transactions per federal state and large-scale property sale
When it comes to the most expensive transactions per federal state in 2024, Vienna stands out for the aforementioned office building in Vienna-Landstrasse. Other notable sales took place in Lower Austria, Tyrol, Styria, Salzburg, Upper Austria, Vorarlberg, Burgenland and Carinthia. An overview of the most expensive transactions per federal state shows:
| Federal State | object | Purchase price (Euro) |
|---|---|---|
| Vienna | Office building in Vienna-Landstrasse | 158.5 million |
| Lower Austria | Buildings in Enzersdorf an der Fischa | 61.2 million |
| Tyrol | Single-family house in Jochberg | 34.68 million |
| Styria | Property in Kainach near Wildon | 34.13 million |
| Salzburg | Buildings in Salzburg city | 28.50 million |
| Upper Austria | Buildings in Pinsdorf | 28.3 million |
| Vorarlberg | Buildings in Dornbirn | 19.77 million |
| Burgenland | Buildings in Zurndorf | 15.86 million |
| Carinthia | Buildings by the lake in Seeboden on Lake Millstätter See | 12 million |
What is particularly noteworthy is that the largest property sold in 2024 covered an area of 430,565 square meters in Neudorf near Parndorf (Burgenland). This underlines the growing demand for large areas, not just for residential construction.
In addition to the developments in Austria, real estate prices in Germany have also experienced an upswing. The working group of the higher appraisal committees published the real estate market report, which appears every two years. The most recent report was published in December 2023, covering the years 2021 and 2022. The AK OGA has also collected and processed data for 2023. A new dashboard offers interactive maps and charts on purchase prices, cash turnover and transaction numbers.
Overall, both the Austrian and German real estate markets show significant trends that are of great interest to investors and buyers. Further information is available on the websites of Leadersnet and BBSR to find.