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Rising Rent Prices in Austria: A Closer Look
Table of Contents
According to Statistics Austria, the average monthly rent for residential units with primary residence (houses and apartments) including operating costs reached €9.8 per square meter. This marks a significant increase of 5.4% compared to the same period last year, with a quarterly rise of 1.0%. The primary driver of these rent increases has been inflation.
In the second quarter, the average monthly rent, including operating costs, was €649.2 for a main rental apartment. Out of this amount, €164.8 per apartment, or €2.5 per square meter, accounted for operating costs—a 4.2% increase from the previous year. “A significant factor for this continual year-on-year rise is inflation-related rent hikes tied to value protection clauses in rental agreements,” stated Tobias Thomas, head of Statistics Austria.
Excluding operating costs, the net rent for the same period was €487.1 per main rental apartment, or €7.3 per square meter, reflecting a 4.3% increase compared to last year.
Notably, over three-quarters of the 4.15 million residential units designated as primary residences in Austria feature additional outdoor spaces such as balconies, loggias, terraces, or winter gardens. Approximately half of these units (49.5%) also possess their own gardens. In most federal states, the presence of balconies or similar outdoor areas exceeds 80%. However, Vienna lags behind, with only 54% of residential units offering such amenities. Conversely, Burgenland boasts the highest proportion of residential units with gardens, nearly 80%, while in Vienna, this figure drops to approximately 12%.
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Rising Rent Prices in Austria: A Closer Look
According to Statistics Austria, the average monthly rent for residential units with primary residence (houses and apartments), including operating costs, reached €9.8 per square meter. This marks a significant increase of 5.4% compared to the same period last year, with a quarterly rise of 1.0%. The primary driver of these rent increases has been inflation.
Current Rental Costs
In the second quarter, the average monthly rent, including operating costs, was €649.2 for a main rental apartment. Out of this amount, €164.8 per apartment, or €2.5 per square meter, accounted for operating costs—a 4.2% increase from the previous year. “A significant factor for this continual year-on-year rise is inflation-related rent hikes tied to value protection clauses in rental agreements,” stated Tobias Thomas, head of Statistics Austria.
Excluding operating costs, the net rent for the same period was €487.1 per main rental apartment, or €7.3 per square meter, reflecting a 4.3% increase compared to last year.
Amenities in Residential Units
Notably, over three-quarters of the 4.15 million residential units designated as primary residences in Austria feature additional outdoor spaces such as balconies, loggias, terraces, or winter gardens. Approximately half of these units (49.5%) also possess their own gardens. In most federal states, the presence of balconies or similar outdoor areas exceeds 80%. However, Vienna lags behind, with only 54% of residential units offering such amenities. Conversely, Burgenland boasts the highest proportion of residential units with gardens, nearly 80%, while in Vienna, this figure drops to approximately 12%.
