Austrian house prices suffered their steepest decline in more than a decade at the end of last year as tighter lending policies exacerbated a slowdown in real estate markets across the European continent.According to data from the Austrian Central Bank, house prices fell 1.9% in the fourth quarter from the previous three months, the biggest drop since 2011. This pushed the annual rate of increase for 2022 back to single digits after a two-year hiatus, coming in at 5%.
House Prices in Austria
In Q4, the Biggest Decline in a DecadeTighter housing finance rules announced by Austrian financial market regulators are exacerbating a slowdown in the market as a result of rising interest rates around the world. Banks and the Austrian government have called for a review of the lending restrictions just months after they came into force.Prices of older apartments in Vienna fell 3.2%, the biggest quarterly drop, while new apartments outside the capital continued to rise
