Salzburg ranks Austria’s second-most expensive capital for apartments

Salzburg is Austria’s second-most expensive provincial capital for buying an apartment, with an average price of 5,500 euros per square metre, ORF reported, citing Raiffeisen Immobilien. Vienna recorded the same average price.

Only Innsbruck was more expensive, at 6,400 euros per square metre.

Prices varied sharply between new-build and older apartments. In Innsbruck, new apartments in good locations cost up to 9,000 euros per square metre, while sellers in prime locations asked as much as 12,000 euros. Used apartments cost between 5,500 and 8,000 euros per square metre, depending on their location.

Salzburg and Vienna also recorded large differences between new and used apartments. Raiffeisen Immobilien attributed this mainly to sharply increased construction costs. It said limited supply in new-build housing was likely to drive further price increases in the coming years.

St. Pölten was the least expensive provincial capital, with an average price of 2,800 euros per square metre. Prices averaged 3,400 euros in Eisenstadt, 3,600 euros in Graz and 3,900 euros in Klagenfurt. Linz was in the middle at 4,200 euros, while Bregenz was the fourth-most expensive capital at 5,200 euros.

The average prices provide only an initial guide. Actual prices can vary significantly depending on location, year of construction, condition and features.