Real estate in Austria: rental prices for three-bedroom apartments in 2021
Investors choose an Austria residence permit to move to a country with a high standard of living, start a business and travel to the Schengen Area visa-free. However, not everyone is ready to buy an apartment right away: the average price per square meter of residential property in Austria is €2,445.
See how much it costs to rent an apartment with three bedrooms in different regions of Austria.
Chief Development Officer in Immigrant Invest, lawyer
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%.
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 are Vienna, Salzburg, and Lower Austria.
Rental prices in different regions of Austria
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.
€1,342
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.
The cost of renting an apartment depends on the region of the country. The most expensive options for renting accommodation are 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
Data source ― Numbeo.com
Why investors choose Austria
Relocating to Austria. Investors get residence permits 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.
Business development. 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.
Freedom of choice. The Austria residence permit allows the investor and his family to live, study and work in the country, as well as travel freely within the Schengen countries.
Vienna has many historical monuments, such as the Vienna Opera, parks, and recreational facilities. Residents prefer public transport to private cars
How to get an Austria residence permit
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 path is designed specifically for those who want to move to the country: under its terms, a resident must spend at least 183 days a year in Austria. Not everyone is ready to buy real estate in the country immediately, so investors often rent apartments.
Zlata Erlach,
Head of the Austrian office
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.
Immigrant Invest helps investors get the Austria residence permits for financially independent people. If you want to move to Austria and rent a property, seek advice from the experts of the investment programs.
