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Homes appreciate in Vienna's suburbs
Homes appreciate in Vienna's suburbs
February 25, 2010Private homes on the outskirts of the Austrian capital have significantly increased in price over 2009. Experts mark the high investment appeal of such properties.
Property prices have increased in all of Vienna's suburbs. The sharpest increase has been observed in the towns of Korneuburg and Stockerau where the prices have soared by 40% and 55%, respectively, says with reference to the data provided by the Raiffeisen Immobilien Vermittlung company.
Homes located in Klosterneuburg remain to be the most expensive - €2.6 thousand per a sq. m., which exceeds the indicators of 2008 by 8%. The three most expensive suburbs of Vienna also include Mödling (€2.2 thousand per a sq. m.) and Korneuburg (€2.1 thousand per a sq. m.).
Over 2008-2009, land for construction of private housing in Vienna has appreciated by 11-16%. Its cost ranges from €275 to €825 per a sq. m. A square meter of land for residential property development in vicinity of Austrian capital costs €320-350.
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