Alpine property’s value jumps to €4.9 million, raising questions

The sale of the Brauneggalm, an alpine property in St Veit in the Pongau district, has raised questions after its purchase price rose sharply over several years, ORF reports.

The land, classified as green space, originally held a hut that was used as a home. The building was later apparently converted and expanded. The property was then valued at about €50,000.

Purchase contracts show prices of €300,000 and then €900,000, before the land and hut were bought for €4.9 million three years ago. The Brauneggalm is associated with a businessman who also works in real estate. The property is tucked away in a forest in a secluded location.

Simon Heilig-Hofbauer, the Greens’ spokesperson for spatial planning in the Salzburg state parliament, said projects by very wealthy buyers pushed up the price of agricultural land and made it harder for farmers to afford. He said such buyers should instead purchase land zoned for building or established second homes.

St Veit Mayor Manfred Brugger of the Austrian People’s Party said the renovations were lawful and had been reviewed by the district authority. A subsidiary of the previous owners most recently bought the Brauneggalm, with the price rising sharply in that contract. The Greens have submitted a question to the state parliament seeking further details.