• croatiantimes.com
• romaniantimes.at
• salzburgtimes.at
• viennatimes.at
• austrianindependent.com

Today

• Vienna - VESCC English Catholic Mass
• Vienna - Unknown Underground
• Vienna - Cats
• Vienna - Andy Warhol
• Vienna - Laser Tag

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. Knoflacher emphasises pedestrian zones' economic effects

   » General News 2012-05-24

   A renowned traffic planner has stressed that shop owners are generally appreciating the introduction of pedestrian zones.

2. IV demands focus on industry in crisis

   » Business 2012-05-24

   The general secretary of the Federation of Austrian Industries (IV) has appealed on Europe’s political leaders to strengthen the continent’s industry.

3. FW turnover takes off

   » Business 2012-05-24

   Austria’s biggest airport has managed to increase its profit.

more related articles tagged "business boom"

Turks flattened by lone asylum seeker
A furious Nigerian went on the rampage at a refuge for asylum seekers in Leibnitz, attacking several people and damaging property.

Woman bites toddler
A woman who bit a two-year-old tot during a road rage row with her mother is being quizzed by police in Wiener Neustadt, Austria.

New Dany Boon comedy to be filmed in Austria
The French film star Dany Boon, one of the highest paid actors in Europe after his hit film "Welcome to the Sticks", is filming in Salzburg.

China meets Hallstatt
After a long time of speculation and anticipation the exact copy of Austrian world heritage village of Hallstatt-Dachstein in China will be unveiled, and there will be real-life Austrians present for the ceremony.

Skier in court after accident
A man from Graz is in court today accused of having inflicted negligent injury upon a five-year-old when skiing in Carinthia last year.

Two fires in Ottakring claim one life
Two fires started on Thursday evening in the Vienna district of Ottakring, one of which claimed a man’s life. Several people were evacuated as a result of the two blazes.

Cows zapped to death by lightning
Four cows were zapped to death after a lightning strike hit the barbed wire fence they were leaning on in Reith im Alpbachtal, Austria.

Wolf babies born in Schönbrunn
These cuddly Artic wolf cubs have got every right to look a bit frosty - after they emerged into the world for the first time in the middle of a 27 degree heatwave.

Cleaned Out
A Hungarian cleaning woman who stole tens of thousands of pounds worth of antique jewellery from an Austrian Countess and then sold it for "pocket money" unaware of its real value has been jailed by a court in Austria.

Great expectations for summer tourism season in Vorarlberg
The Vorarlberg tourism industry is currently riding high after a record breaking winter season, and the summer season is expected to follow that same trend.

Jobs in Austria