Austria Estate agents expect property prices to stagnate or continue falling. One of the factors is that more properties are coming onto the market and creating more competition.
According to Real estate franchaise Remax there are 147,000 properties on the market. They surveyed 600 of their agents and found that a forecast for prices to drop 6.7 % this year.
Is it a good time to buy property?
There was a sharp decline in sales in 2023. According to preliminary figures from Immo United, there will be around 110,000 land register entries, compared to 145,000 in 2022. New-build apartments, terraced houses and semi-detached houses were particularly affected. The total value of properties traded in the previous year is likely to be around €33 billion, the same level as in 2018 and 2019.
Is it a good time to buy property?
So could it be the time to buy. It certainly seems so, if the figures forecast are correct.?
Check our webpage. Why buy in Austria