If you finally got your job offer in Austria it is the time to look for the apartment. By looking for your new apartment there are always the same questions like: Where, when, which costs your rent includes and the most important question how much is the rent?
In comparison to other big European cities the prices in Vienna are moderate. Real estate experts in Vienna like to say that in Vienna you are not only getting the apartment but also the quality of life. Vienna is already several years one of the best cities for living in the world. It is a city which is well known for security, stability, healthcare system and great opportunities for education. Vienna has a lot of parks and green places and it is main economical and cultural city in this part of Europe.
The rent prices increased significantly in Vienna in 2020. The main reason behind the rising prices is that Vienna and other Austrian cities are so many new buildings and especially high quality and luxury real estates which are increasing the average renting price.
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The forecast of real estate prices in Vienna from 2021
The buying price of apartments in Vienna increased on average almost three times since the 2008.Covid-19 has an influence on almost every aspect of our life, consequently it has already an effect on real estate market and this effect will significantly increase with the time. Due to the Covid-19 people are working remotely from home. Therefore, more and more people are deciding to move to the villages close to Vienna and to enjoy living in green, having own house or apartment with garden or big terrasse instead of living in small apartment in the city.
In the last years Vienna has a negative migration balance when it comes to the migration of citizens from countryside and other cities. Therefore, taking all these factors into account it can be expected that the renting and buying prices of apartment in Vienna will start decreasing from 2021.
Which costs are included in the rent price in Austria and which not ?
Before starting with the renting prices it is good to know what is meant exactly by the apartment renting price in Austria. Standard renting price in Austria (Kaltmiete) includes following operating costs (Betriebskosten):
- water / wastewater, water tightness testing, calibration, reading and billing costs for consumption billing for cold water,
- if there is an agreement, sewer clearance, rubbish, clearing out abandoned property, pest control, sweeping fees (flue sweeping),
- electricity for lighting of the staircase and the communal areas,
- insurance premiums for fire, liability and tap water damage, insurance premiums for glass breakage and storm damage, provided that more than half of the tenants have agreed to this transfer,
- administration fees,
- house cleaning (including old service contracts with “real” caretakers Clearance or local tax for employees) including snow removal,
- public charges and the running costs of community facilities (lift, heating, playground, swimming pool, sauna, laundry room, green areas, community rooms, etc.), such as B. Electricity, service, maintenance, energy costs, lawn mowing, etc.
This means you have to pay extra /on top of the apartment rent following costs: heating and warm watter, TV and radio fees, cable TV and internet.
The average renting prices in Austrian states
- Salzburg 13,20 €/m²
- Vienna 13,10 €/m²
- Tirol 12,70 €/m²
- Vorarlberg 12,60 €/m²
- Steiermark 10,10 €/m²
- Upper Austria 10,00 €/m²
- Lower Austria 9,90 €/m²
- Kärnten 9,30 €/m²
- Burgenland 7,70 €/m²
- Austria (all states included) 11,80 €/m²
Source: Source: https://www.meinbezirk.at/wien/c-lokales/oesterreich-auf-der-suche-nach-leistbaren-wohnungen_a3751248
According to the same source 90% of all Austrian citizens are looking for the apartment which costs less than 900 € per month. This means if you are able to pay more than 900 € per month you will find an apartment much easier and you will pay less per square meter because obviously there is lower demand for these apartments.
This overview of average apartment rental prices in Vienna
The map of renting prices according to the Vienna’s underground lines and stations
This map shows the average so called cold apartment (see the expalanation in the text above) renting prices for the apartment of 73 m2
Author: Sofia Ivanov is a blogger at AustrianCareer.at. She holds a MA in international business and also contributes photography to AustrianCareer.at.