Austria Apartment Prices Rise Again

Austria’s apartment market returned to growth in 2025

Austria’s apartment market moved back into growth in 2025 after the cooling seen in 2023 and 2024. According to willhaben.at, which analyzed 230,000 condominium listings across 110 districts, asking prices for apartments rose in eight out of ten regions last year. Vienna.at, citing willhaben executive Judith Kössner, said the rebound was especially visible in urban and metropolitan markets after more than half of Austria’s districts had still been posting declines in 2023.

Official Austrian housing data also point to a market rebound

Listing-based data were backed by national transaction statistics. Statistik Austria said residential property prices rose by 2.6% in 2025, marking the first annual increase in two years. New apartments and houses became 2.9% more expensive on average, existing homes rose 2.5%, and the number of residential property purchases jumped 18.3% from 2024, the sharpest rise in transactions in more than a decade. That suggests the market did not merely stop falling but also recovered part of the demand lost during the high-rate slowdown.

The strongest apartment price gains came from regional markets

The biggest gains in 2025 did not come from Austria’s already most expensive core districts but from a number of regional markets. Vienna.at reported that St. Pölten posted the largest increase, with average asking prices rising 35.4% to 3,359 euros per square meter. It was followed by Gmunden, up 27.8% to 5,855 euros, Freistadt, up 27.6% to 4,286 euros, Krems Land, up 26.6% to 4,210 euros, Wiener Neustadt Land, up 24% to 3,242 euros, and Dornbirn, up 23.4% to 6,190 euros per square meter. Several other districts, including Rohrbach, Eisenstadt, Villach and Gänserndorf, also posted gains above 20%.

Austria still has wide price gaps between districts

Despite the rebound, Austria remains a highly uneven housing market. The cheapest average asking prices in 2025 were recorded in Murtal at 1,481 euros per square meter, Lilienfeld at 1,585 euros, Güssing at 1,649 euros, Bruck-Mürzzuschlag at 1,688 euros and Leoben at 1,779 euros. Oberwart, Zwettl and Horn also remained below the 2,000-euro mark. That underlines how much of the current price momentum is concentrated in Vienna, state capitals and a limited set of faster-rising local markets rather than evenly spread across the country.

Vienna and Kitzbühel remain the country’s most expensive apartment markets

The highest asking prices in Austria were once again found in central Vienna. In Innere Stadt, average asking prices reached 13,718 euros per square meter. Vienna.at also reported that Kitzbühel moved into five-digit territory for the first time, with average asking prices at 10,056 euros per square meter. Other high-priced areas included Wieden at 8,618 euros, Neubau at 8,068 euros, Döbling at 7,974 euros, Alsergrund at 7,954 euros, Mariahilf at 7,554 euros, Hietzing at 7,491 euros, Währing at 7,447 euros, Josefstadt at 7,285 euros, Leopoldstadt at 7,121 euros and Landstraße at 7,093 euros per square meter.

Almost all Vienna districts saw prices increase again

Within Vienna, price growth in 2025 was broad-based. The strongest increase was recorded in Liesing, where average asking prices jumped 18.9% to 5,874 euros per square meter. Margareten followed with an 18.5% rise to 6,963 euros, while Mariahilf gained 15.5% and Hietzing 14.3%. Alsergrund, Wieden and Landstraße each rose 13.3%, Rudolfsheim-Fünfhaus gained 12.9%, Brigittenau 12.1% and Neubau 10.7%. The only districts to post declines were Döbling, Leopoldstadt and Innere Stadt, where asking prices edged down by 1.5%, 0.9% and 0.7% respectively. Even there, the changes look more like localized corrections than a renewed downward market trend.

The rebound fits a broader recovery in Austria’s housing market

The apartment market recovery is consistent with a wider normalization trend. Statistik Austria’s house price index showed residential property prices rising 3.7% year on year in the fourth quarter of 2025, with existing dwellings up 3.8% and new dwellings up 3.4%. The Oesterreichische Nationalbank also continues to track separate residential property price series for Vienna and the rest of Austria, reinforcing the view that larger urban markets have been recovering more steadily than expected. Together, those indicators suggest that the declines of 2023 and 2024 have given way to a phase of moderate recovery.

Prices are rising again even as supply remains constrained

A crucial feature of the current cycle is that prices are recovering without a strong construction rebound. Austria’s housing market has already been facing weaker building activity and tighter future supply, especially in Vienna and other large cities. That means even a moderate return of demand can translate into higher prices more quickly than into a larger pipeline of new projects. CBRE said in its Living Market Report Austria 2025 that Vienna in particular continues to face structural housing shortages, adding to the price pressure.

What the renewed rise means for buyers and investors

For buyers, 2025 signaled that the period of broad-based and almost nationwide price declines in Austria may be over. For investors, the market is returning to selective growth, with some of the strongest gains coming not necessarily in the most expensive addresses but in areas where demand has recovered and supply remains tight. Both official and market-based datasets suggest not overheating, but a transition toward renewed moderate price growth after correction. That is why Vienna, state capitals and districts that already posted gains above 20% are likely to remain in focus through 2026.

As International Investment experts report, the 2025 data suggest Austria’s apartment market has moved out of correction faster than many expected, and the key driver now is not only recovering demand but also constrained supply in urban locations. If new construction remains weak, even a moderate rise in transactions and buyer confidence may be enough to keep prices moving higher in Vienna and a number of regional centers through 2026.

FAQ

Why did apartment prices in Austria rise again in 2025?

Because the market recovered after the weakness of 2023 and 2024, while demand returned faster than supply expanded. That is visible both in willhaben listing data and in official Statistik Austria figures.

Which Austrian regions saw the strongest apartment price growth?

The strongest gains were recorded in St. Pölten, Gmunden, Freistadt, Krems Land, Wiener Neustadt Land and Dornbirn. All of them posted increases above 20% year on year.

Where are Austria’s most expensive apartments?

The most expensive apartments remain in Vienna’s Innere Stadt, where average asking prices reached 13,718 euros per square meter. Kitzbühel also moved above 10,000 euros per square meter for the first time.

Did every Vienna district become more expensive in 2025?

Almost all did. The exceptions were Döbling, Leopoldstadt and Innere Stadt, which posted small asking-price declines. Most other Vienna districts registered clear increases.

Do official statistics confirm the rebound in Austrian housing prices?

Yes. Statistik Austria said residential property prices rose 2.6% in 2025, while fourth-quarter prices were 3.7% higher than a year earlier.