Thomas Malloth, the real estate expert said annual statistics reveal that all kinds of properties – cheap flats in cities, real estate in the countryside and business properties in industrial areas – became more expensive from 2010 to 2011. He encouraged political decision-makers to create incentives for the construction of new estates.
The head of the Federal Real Estate Association said that prices shot up by 10% in capital Vienna. He added that the eastern province of Burgenland remained the most affordable region for building land last year.
Austrians spent 138 700 euros on average on the acquisition of an apartment in the country last year, almost 7% more than in the previous year. Prices in Vienna climbed by even 9,2 %. These developments seem to have no impact on many people’s financial strategy. Research group Integral found in a poll that, with 19 %, nearly one in five Austrians planned to spend money on properties this year.
Source: http://www.austriantimes.at/news/Business/2012-05-31/42017/Property_prices_keep_climbing