Demand up 35%

High demand causes rental prices to skyrocket

In the city of Mozart, interest in rental apartments is greater than ever. In the first quarter of 2024, Salzburg recorded a 35% increase in demand. With devastating consequences: The high demand continues to drive up prices on the rental market.

At 19.9 euros/sqm, Salzburg is the second most expensive city in Austria. Innsbruck is in first place with the highest rents at EUR 23.4/sqm.

The already high-priced western provincial capitals have thus increased by 5 percent (Salzburg) and 9 percent (Innsbruck) compared to the previous year. With an increase of 10 percent, rental apartments on offer in Bregenz have now also exceeded the EUR 18 mark.

A somewhat subdued property purchase market due to rising interest rates, stricter lending guidelines and economic uncertainty is now being reflected in increased demand on the rental market. 

"However, there are already initial signs that the buying market is also picking up again. This would also change the situation for people looking to rent again," explains Markus Dejmek, Head of ImmoScout24 Austria. The real estate portal carried out a data analysis of almost 97,500 data points from 2022 to 2024.