The Austrian capital, Vienna, has shown double-digit price reductions per square meter since the beginning of May this year, making it the weakest real estate market among major European cities. In terms of the rate of decline, Vienna is in front of Sweden’s capital, Stockholm, where the decline in housing prices is not so fast. informs The Bloomberg agency cites its own calculations.
Since the beginning of this month, the value of one square meter of residence in Vienna has fallen to 7,084 euros. Such dynamics was influenced by several key factors, including the booming rental market, as well as the tightening of mortgage lending conditions in the real estate market of Austrian capital.
“Vienna fell in double digits, outpacing even the hard-hit Stockholm, making it the weakest housing market among major European capitals. The Austrian capital fell 12.2% from peak levels a year ago, while Stockholm saw a 6.4% drop. <….> In May, the offer prices in the real estate market in Vienna fell to an average of 7,084 euros per square meter”.
May 3 Bloomberg reportedThe authorities of European countries may soon stop issuing citizenship for the purchase of housing. One of the main reasons for this intention was the sharp increase in property prices and the discontent of the population.