09. 02. 10. - 15:00

• more Business news
• RSS Feed Business

09. 02. 10. - 15:00

Kitzbühel retains most expensive real estate title

The Tyrolean ski resort of Kitzbühel has the highest real estate prices in Austria, according to a new study.

Research conducted by real estate platform www.immobilien.net showed that the posh tourism hotspot kept its place last year as the most expensive place in the country when it comes to real estate.

Study leaders said today (Tues) one square metre of real estate "in a very good state" in the world famous resort cost 4,876 Euros last year, while real estate in Kitzbühel district is just under 3,000 Euros per square metre.

The news comes just one day after 87-year-old social worker Käthe Nagiller opened a "social supermarket" selling foodstuffs at discount prices in a bid to help the poor in Kitzbühel, widely regarded as one of the trendiest ski resorts in Europe.

Innsbruck, the provincial capital of Tyrol, has meanwhile been found to be the most expensive of Austria’s nine provincial capitals when it comes to owner-occupied flats with an average price of 3,220 Euros per square metres for flats rated as being "in a very good state" by real estate agencies.

Salzburg came second with 2,921 Euros per square metre in 2009, up 12 per cent year on year, with Vienna in third (2,688 Euros).

The cheapest flats are meanwhile available in Eisenstadt, the provincial capital of Burgenland in the east, where owner-occupied flats cost 1,217 Euros per square metre.

Immobilien.net head Alexander Ertler said suburban towns like Klosterneuburg around the capital Vienna were the only areas with comparably high prices outside western provinces such as Tyrol.

Ertler also said single family house prices rose slightly last year despite lower demand.

The Immobilien.net boss said there had been a five per cent year on year increase in the houses following a one per cent year on year slump in 2008.

"Houses in nice areas still reach high prices, while prices for houses in worse environments will continue to fall this year," Ertler said.

But prices for all types of real estate meanwhile slumped by nine per cent on year on year. The study shows the average price per square metre for all non-commercial property in Austria is 89 Euros.

Prices for rented flats however rose by two per cent due to increasing demand, it has been reported.

Innsbruck is the most expensive provincial capital for rented flats with a monthly rental price of 10.7 Euros per square metre, with Salzburg in second (9 Euros).

Rented flats are cheapest in Klagenfurt, the provincial capital of Carinthia, Lower Austria’s Sankt Pölten and Eisenstadt with 6.6 Euros per square metre.

Austrian Times

Related articles: business boom

1. Spanish Riding School honoured by UNESCO

   » Panorama 2010-03-12

   Vienna’s Spanish Riding School has been put on the list of Austrian immaterial cultural objects by the UN Educational, Scientific and Cultural Organisation (UNESCO).

2. Spanish Riding School honoured by UNESCO

   » Travel 2010-03-12

   Vienna’s Spanish Riding School has been put on the list of Austrian immaterial cultural objects by the UN Educational, Scientific and Cultural Organisation (UNESCO).

3. Austrian architect set to build new ski jumps close to Sarajevo

   » Business 2010-03-12

   An Austrian architect is going to design the ski-jumping facilities on Igman mountain close to Sarajevo, the capital of Bosnia-Herzegovina.

4. Austrian architect set to build new ski jumps close to Sarajevo

   » Sports 2010-03-12

   An Austrian architect is going to design the ski-jumping facilities on Igman mountain close to Sarajevo, the capital of Bosnia-Herzegovina.

5. Piatnik ahead of the game in 2009

   » Business 2010-03-12

   Playing card and board game producer Piatnik reported yesterday (Thurs) that it had had a five per cent increase in turnover year on year to 26 million Euros in 2009.

6. Kika's Czech subsidiary reports good results

   » Business 2010-03-12

   Austrian furniture chain kika/Leiner reported today (Thurs) that its Czech subsidiary kika Nabytek had enjoyed good results during its 2008/2009 business year (1 March to 28 February).

7. Hypo Vorarlberg has higher operating earnings

   » Business 2010-03-12

   Hypo Vorarlberg bank reported yesterday (Thurs) that its operating earnings had increased by 14.6 per cent year on year to 57.3 million Euros in 2009.

8. Austrian Peter Löscher named top-earning German company boss

   » Business 2010-03-12

   An Austrian has been named as the best paid CEO among German companies listed by the country’s stock market index DAX in "crisis year" 2009.

9. Job anxiety slowly ebbing

   » Business 2010-03-12

   Austrians’ anxiety about losing their jobs has been slowly ebbing, according to results of a new poll by Linz public-opinion research firm Spectra released today (Fri).

10. Blown-up explosives factory to reopen

    » Business 2010-03-12

    The Austin Powder GmbH emulsion explosives factory that blew up on 11 March 2008 is going to reopen this April, according to firm chief Wolfgang Schuster.

Avalanche claims another victim in Styria
A 30-year-old snowboarder died in an avalanche on Saturday near Aflenz in Styria’s Bruck an der Mur district, police said yesterday (Sun).

Older people may benefit from being slightly overweight
Being slightly overweight may protect older people from potentially dangerous infections, a study by Vienna Medical University’s Institute for Social Medicine has concluded.

Student saved from avalanche
A student was saved by her mates on Saturday when they dug her out of the snow after she was caught in an avalanche, police said.

Austria 'might help' Greece, says minister
People’s Party (ÖVP) Finance Minister Josef Pröll said on Saturday that Austria might play a secondary role in helping almost bankrupt Greece.

Three injured when hayloft collapses
Three people were seriously injured Saturday night when a hayloft hosting a party collapsed, sending two of them plunging four metres to the floor, police said yesterday (Sun).

Rapid win Vienna derby
Rapid Vienna retained their chances of winning a 33rd league title after beating city rivals Austria Vienna in yesterday’s 292nd Viennese derby.

Austrian men have the most sex partners
Austrian men have the most sex partners in the world, according to the British newspaper The Sun.

Kaltenbrunner's assault on Mount Everest called into question
Upper Austrian extreme mountain climber Gerlinde Kaltenbrunner’s planned assault on Mount Everest (8,848 metres) could be thwarted because of Chinese law, according to today’s edition (Mon) of the newspaper Oberösterreichische Nachrichten.

Toddler survives fall from window
A two-year-old girl who fell three metres from the window of her bedroom on Saturday, was unhurt after landing on a blanket of snow, police say.

Perv doc pays inmates for porn pics
A 43-year-old doctor who paid mental patients for pornographic photos has been arrested in Wiener Neustadt, Lower Austria, reports yesterday’s edition (Sun) of the newspaper Kurier.