Austrian real estate prices have been rising steadily since 2015. The real estate market made a significant contribution to the country’s GDP in 2020: the value of private homes rose by 3.7%, the value of apartments by 4.6%.
Rents in Vienna have risen by a record 6 %, in other regions of the country – by 1.7 %. For example, the average rental price for a three-bedroom apartment in Austria in the summer of 2021 is €1,342, according to Numbeo.com.
The average cost of renting an apartment with three bedrooms
Numbeo.com allows all users to share information about the prices of real estate, food, and travel in their country.
Rental prices in different regions of Austria
The cost of renting an apartment depends on the region of the country. Austria is divided into nine regions or federal states. Popular destinations for tourists – Vienna, Salzburg, Lower Austria.
The cost of renting an apartment depends on the region of the country. The most expensive options for renting accommodation – in Salzburg and Vienna. In the table below we present prices for apartments in major Austrian cities.
Average rental price for a three-bedroom apartment in Austria
|Region 🌍||City 🏘️||Price 💶|
|Lower Austria||St. Pölten||€830|
Why investors choose Austria
1. Investors get a residence permit in Austria to live in a safe and environmentally friendly country with a high standard of living. For example, Vienna has been ranked first several times in the ranking of the best cities to live in over the past 10 years, according to Mercer.
The international rating agency Standart & Poor’s has assigned the country an AA+ credit rating. This means that the state’s economy is not threatened by default, it has high creditworthiness and growth prospects in the coming years, despite the global crisis amid the coronavirus pandemic.
2. Investors choose Austria for its favorable conditions for international business.
Immigrant Invest lawyers helped Yuri and Marina to obtain a residence permit in Austria. Yuri planned to take their business internationally and optimize their taxation. The family wanted to live in an environmentally friendly and quiet neighborhood, so the lawyers helped them rent an apartment in Klagenfurt.
3. A residence permit in Austria allows the investor and his family to live, study and work in the country, as well as travel freely within the Schengen countries.
How to get a residence permit in Austria
Austria offers wealthy people a residence permit for financially independent persons. The investor needs to prove that he and his family have enough money to live in the country.
The government grants residence permits on a quota basis. We told you how to get a quote in 2022 and the conditions that the applicant must meet.
The distribution of quotas can be compared to the lottery that takes place all over the world. The first person to sign up at the Austrian Embassy on the first working day of the year gets a chance to be considered for an application.
The second important point is the correctness of the documents. The time frame for collecting, processing, and submitting documents varies from case to case. If you make a mistake in filling out the documents, Austria will refuse to grant residence permit status.
Despite the complexity of the process, we have been able to register clients for 10 years. We are aware of the number of quotas in different regions of Austria, we cooperate with the best lawyers in the country and accompany clients at every stage of obtaining a residence permit.
Director of the Vienna office of Immigrant Invest
The program is designed specifically for those who want to move: under its terms, in Austria to spend at least 183 days a year. Not everyone is ready to buy real estate in the country immediately, so investors often rent apartments.
Examples of three-bedroom apartments in various Austrian cities
Three-bedroom apartment with private terrace in Vienna. Living arearn- 81 m². Rental price - € 2929 per month.
Apartment with three bedrooms in Melk, which is located in Lower Austria. The living space is 78 m². Rental price - € 760 per month.
Three-bedroom mansard in Eferding, which is located in Upper Austria. The living space is 74 m². Rental price - € 760 per month.