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The housing market in Salzburg has been tense for years. The current Corona crisis also fueled the situation. “The trend towards sharp price increases can be seen in both single-family homes and apartments,” says Elisabeth Rauscher, general manager of the Rauscher team. This shows a price analysis of more than 3,000 real estate offers that were for sale from July to September.
House prices rose twelve percent
In the same period last year, the price of single-family homes on sale in Salzburger Land (excluding the city) increased from an average of € 771,000 to around € 865,000. That corresponds to a twelve percent price increase. The offer was 200 houses or nearly 20 percent lower.
Scarcely Available Single Family Homes
In the city, the price increase was around three percent, although the meager supply of only about 100 houses is of limited importance. The year before, there were almost twice as many houses on the market. The average price of homes on offer in the city of Salzburg is now 1.5 million euros.
Condos are also on the rise
The situation is similar with condos. The average price per square meter of an apartment on sale in the city of Salzburg was around 4,830 euros in 2019. This year, sellers wanted 9.5 percent more for their property at just under 5,290 euros. In Salzburger Land, too, prices rose dramatically; relatively speaking, there are more new-build properties on offer here than in the city.
However, the expert recommends buying
With a two percent increase in the size of apartments from 60 to 90 square meters, the price increase in the very popular segment was relatively small. “If you want to sell your property, you must use the current price level,” says Rauscher. “If you want to fulfill your dream of owning your own home, you certainly won’t go wrong in the long run by buying it now. Residential real estate will continue to be a stable investment, especially in the economically difficult times after the pandemic. ”
SPÖ wants 15,000 new rental apartments
In order to guarantee affordable housing in the city of Salzburg in the long term, the SPÖ wants to prioritize rental housing. “The goal for the city of Salzburg should be a share of at least 40 percent of subsidized rental apartments city-wide,” demands housing spokeswoman Nicole Solarz. Salzburg, on the other hand, has “only” 22 percent.
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Solarz is looking at Vienna. In the federal capital, the share of subsidized rental apartments is 43 percent, in Linz even 54 percent. According to Solarz, a total of 15,000 new rental apartments will be created over the next 25 years.
Too many second homes
KPÖ PLUS councilor Kay-Michael Dankl has identified another problem: “People in Salzburg can hardly find affordable apartments. At the same time, according to Governor Haslauer (ÖVP, note) up to 10,000 apartments are empty. Countless apartments serve as second homes and are absent from the tight housing market. The balance doesn’t fit. “
(Source: SALZBURG24)
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