Apartments in Austria dropped in price by 10%

Apartments in Austria dropped in price by 10%

In 2013, there were 81 thousand houses and apartments sold in Austria. Total sum of deals amounted to €16 bn (in average €197.5 thousand each). Compared with the previous year, the number of transactions decreased by 12.5%​​, and the total sum fell by 8.3%, according to ee24.com citing friedlnews.com.

28 thousand people have purchased apartments. In average, apartments in Austria were worth €162 thousand. In 2013 sales of apartments decreased by 9%, and their price - by 10%.

Average cost of apartments in Vienna, on the contrary, increased by 12% to €199 thousand. Since 2007 real estate prices in the capital increased by 80%. According to estimates of the Austrian National Bank, property in Vienna is overvalued by 20%, and in other regions - by 8%.