The Austrian capital for the first time joined the rating of the most expensive cities in the world. The average price per square meter in Vienna is €3,000 now, informs portal FriedlNews.com citing research by Deloitte. The cost of housing in Vienna climbed by 9% in 2012.
The rapid growth of real estate prices has occurred in all the European capitals. The most expensive city in the world, as before, is London. In the central areas of the British capital cost per square meter of real estate can be up to €10,000. London is followed by Paris (€8,300 per sq.m.) and Munich (€5,000).
Accommodation in Austria is much more expensive than in many other European countries, because of high maintenance expenses (€10,000 a year). For comparison, the average cost of the property is €8,300 in the EU.
The Austrians have to pay about five per year annual salary to buy a home. In Germany – enough 2.2 annual salaries for the purchase of an apartment. It is noted that in Russia, France and the UK the average price of real estate is not less than 10 annual salaries.
Analysts believe that by the end of 2013 the prices of Austrian real estate will rise by 1.5%. In 2012, the increase was 4.2%. And it's predicted that the real estate bubble in Austria will not arise.