01 Oct Pricey floor
Over 200.000 Euros for a small one-room flat with 33 square metres? This is reality in Linz. Such flats, for example, are offered in the new Bruckner tower in Urfahr. Not only in Linz but in whole Austria the prices in real estate have increased tremendously in the past years.
Rental differences in Austria
Vienna, Innsbruck and Salzburg are among the most expensive residential areas in Austria. Usually, urban rents differ only slightly from rural rents. In some cases, rents in rural areas can even be more expensive if the districts are located in a ski resort, near a lake or popular tourist destination. Particularly large fluctuations can be found in the cities of Austria. Thus, property prices are strongly influenced by the location. This means that the closer the flat is to the city centre, the more expensive the rent.
In Linz the luxurious districts are not only in the city centre but also in the hilly areas. Exclusive properties can be found at ‘Pöstlingberg’, ‘Auberg’, ‘Freinberg’ or ‘Römerberg’. One will hardly find any offers in new buildings under € 5.000,- per square metre there. In some other countries these prices might be common, however, the rent has increased by approximately 13 percent the last five years in Austria. The purchasing price has even risen by over 25 percent. The problem is that wages have increased by a smaller percentage. Hence, especially financially weaker families spend up to half of their income on housing.
What are the operating costs?
Depending on the district, street and building, the amount of the rent also varies. Whether with or without green area, new, renovated or old house. Please note, rental costs are not necessarily just rental costs. Generally, overheads, also called operating costs, are not included in the house rent and describe water supply, sewerage, chimney sweeping, refuse collection, pest control, lighting, insurance and other living costs. A closer look at the service charges reveals a difference between cold and hot service charges. The warm service charges are usually more expensive because the costs for heating and warm water are included. This topic often triggers insecurity even among locals. For this reason, Sista Relocation has compiled its own brochure on the subject of rental contracts and operating costs.