Austria: House Prices, Rents, and Rental Yields
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Very low yields in Vienna
| Last Updated: August 23, 2008 | |||||
| VIENNA - Apartments | COST (€) | YIELD (p.a.) | PRICE/SQ.M. (€) | ||
| TO BUY |
MONTHLY RENT | TO BUY | MONTHLY RENT | ||
| 50 sq. m. | 131,600 | 727 | 6.63% | 2,632 | 14.54 |
| 85 sq. m. | 235,195 | 1,122 | 5.72% | 2,767 | 13.20 |
| 120 sq. m. | 440,640 | 1,592 | 4.34% | 3,672 | 13.27 |
| 220 sq. m. | 879,340 | 3,432 | 4.68% | 3,997 | 15.60 |
| SALBURG - Apartments | |||||
| 50 sq. m. | 104,950 | 481 | 5.50% | 2,099 | 9.62 |
| 120 sq. m. | 297,480 | 1,314 | 5.30% | 2,479 | 10.95 |
| GRAZ - Apartments |
|||||
| 50 sq. m. | 108,150 | 520 | 5.76% | 2,163 | 10.39 |
| 90 sq. m. | 172,260 | 823 | 5.73% | 1,914 | 9.14 |
| 220 sq. m. | 472,120 | 2,213 | 5.63% | 2,146 | 10.06 |
| Vienna: Innere Stadt, Währing, Döbling, Margareten, Josefstadt, Heitzing, Mariahilf Salzburg: Salzburg (Stadt) Graz: Graz (Stadt) Source: Global Property Guide Definitions: Data FAQ See also: Update Schedule |
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Colliers Austria Market Report 2008 reports that no rent increases were observed in Vienna in 2007 and none can be expected in the near future. Monthly rents for the most luxurious apartments in the city centre were a generous €22 per sq. m. in 2008, but the report adds that most apartments earned monthly rents of only between €7 and €12 per sq. m., due to legal restrictions.
Rising purchase prices and static rents have led to very low rental yields in Vienna. Colliers reports that top location in the city centre have net rental return of 1%, while rental yields for the rest of the city are around 2% to 4%. The Global Property Guide’s own gross return estimates for Vienna range from 4.29% to 6%. However there is a significant difference in methodology, in that the Colliers figures are net, while the Global Property Guide figures are gross, and therefore inevitably higher.
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