The average rent (including running costs) in Austria was €9.8 per square metre per month in the second quarter of 2024,
up 1.0% compared to the previous quarter and 5.4% compared to the second quarter of the previous year, Statistics Austria data showed on Thursday (Sept. 5)
“Residential rents in Austria rose again in the second quarter of 2024, albeit not to the same extent as in
the previous quarters. The average monthly rent including running costs was €649.2 per main rental apartment or €9.8 per square metre. One reason for the continued significant year-on-year increase is inflation related rent increases due to value protection clauses in rental agreements”, says Tobias Thomas, Director General Statistics at Statistics Austria.
The actual amount of the monthly rent including running costs depends, among other things, on the rental segment, the rental period, the size of the apartment and the region. The rent excluding running costs (net rent) amounted to €487.1 per main rental apartment or €7.3 per square metre in the second quarter of 2024. The net rent per square metre rose by 4.3% compared to the second quarter of the previous year. The average running costs were €164.8 per flat or €2.5 per square metre, which is 4.2% more than in the previous year. The rental costs relate to extrapolated 1.8 million main rental apartments in Austria.
Burgenland has the most main residence apartments with their own garden
Of the 4 153.6 main residence apartments in Austria, almost 77.9% have a balcony, loggia, patio or conservatory and almost every second apartment (49.5%) has its own garden. Mainly house-ownership apartments have an outdoor space: 92.4% have a balcony, loggia, patio or conservatory and 97.3% have their own garden. In flat-ownership apartments, 86.4% of apartments have their own balcony, loggia, patio or conservatory, but only 21.4% of privately owned apartments have their own garden. Among the main rental apartments, cooperative apartments (79.8%) are the most likely to have a balcony, loggia, patio or conservatory, followed by other main rental apartments (55.8%) and communal apartments (51.5%).
In a comparison of the regions, more than 80% of main residences in almost all federal provinces have a balcony, loggia, patio or conservatory, with the exception of Vienna (53.9%). In particular, main residence apartments in Burgenland (79.7%) have their own garden, followed by Lower Austria (70.3%) and Carinthia (62.6%). Vienna was again at the bottom of the table, with only 11.7% of main residence apartments having their own garden, Statistics Austria said.
