Property prices and rents in Austria are relatively low compared with the rest of Europe. For example, Vienna is mid-table in a comparison of prices in European capitals. However, Vienna is one of the most liveable cities in the world. The Austrian capital’s economy is also forecast to grow strongly in the next few years. This means there is still significant potential for increases in property values and rents.
Vienna was once again named the world’s most liveable city in the most recent Mercer Quality of Living survey.
Graz (population 286,000) is another Austrian city with outstanding potential: the population of the Styrian capital is expected to grow at the same rate as that of Vienna, by about 10% over the next 10-15 years. This is due to the city’s attractive urban landscape, its extensive range of cultural and educational institutions and favourable location and climate. Famous the world over for its annual arts festival, Salzburg stands out for its picturesque cityscape, cultural scene and convenient location between Zurich, Munich and Vienna. This is reflected in the strong demand for income-generating rental properties.
With a population of 203,000, Linz was primarily seen as an industrial city for some time, and its potential underestimated as a result. However, the Upper Austrian capital boasts an attractive baroque city centre, a wide range of internationally renowned cultural events and an excellent location on the banks of the Danube. The large number of successful global businesses based in the greater Linz area will be key to the city’s growing popularity in future.
Other attractive conurbations in Austria include Klagenfurt (population 99,800), Innsbruck (population 132,000) and Bregenz (population 28,000).