Vienna was the weakest housing market among major European capitals, posting a double-digit decline that outstripped even Stockholm’s poor performance. This data is provided by Bloomberg. In the Austrian capital, prices fell 12.2% over the year compared to peak levels a year ago. In Stockholm the fall was 6.4%, while an increase was recorded in Madrid, Milan and Zurich.
Austria’s dynamic and developing rental market is always ready to offer an alternative to ownership. This, coupled with strict mortgage lending rules, is exacerbating the downturn. In Vienna, supply prices fell to 7,084 euros per square meter in May. Experts expect a further decline.