Vienna leads the list of the most exclusive residential addresses in Austria. On Tuchlauben in the first district, prestigious penthouses and top-floor apartments reach prices of up to €30,000 per square metre.

In second place comes Kärntner Ring, also in Vienna’s first district. Top prices reach €26,000 per square metre for a new residential development. The Salzkammergut region ranks third. Prices per square metre go up to €25,000 for homes in direct lakeside areas like Mondsee Lake.

Like the Salzkammergut region, the residential property market around Lake Wörth is dominated by domestic investors. The fast connection to Vienna is a major contributory factor here, giving Lake Wörth a similar status to Long Island for New York or Sylt island for Hamburg. Prices per square metre of up to €20,000 are paid for properties at prime addresses with lake access in Velden on the banks of Lake Wörth.

Luxury residences in the ski resorts of Lech and Zürs in the Vorarlberg region are popular. In Lech, prices of up to €20,000 per square metre can be paid, while homes in Zürs are being sold for as much as €15,000 per square metre.

Prices for freehold apartments in the centre of Kitzbühel are also high. In the quaint, narrow streets of the historic town centre, high-end freehold apartments with large interiors and parking facilities are in strong demand. For exclusive apartments in very good locations, prices can reach €15,000 per square metre. In Salzburg’s historic Old Town, prices per square metre reach €13,000.

Price are expected to rise this year. “The price highs in Vienna can also be attributed to the strong level of demand from foreign investors who are looking to invest their capital principally in real estate,” said Kai Enders, member of the board of Engel & Völkers AG. High-quality residential property is not readily available in Austria’s most desirable locations. Even in places where availability has increased as a result of new development projects, Engel &Völkers continues to register stable to slightly rising prices. “This is not set to change in future either, as Austria is an enormously attractive country,” Mr Enders added.

This is the first time Engel & Völkers has published a ranking list of the most exclusive residential addresses in Austria. The data in is based on the residential property recorded or brokered by Engel & Völkers in the first-class locations in Austria in 2013.

Austria is an enormously attractive country

Engel & Völkers is one of the world’s leading service companies specialised in the sale and leasehold of premium residential property, commercial real estate and yachts. It is the only Germany-based firm to rank among the world’s top 100 franchise companies. Around 520 residential property shops specialised in high-class real estate and 50 commercial offices brokering retail, office and industrial space, investment properties, multi-purpose apartment and office blocks and property portfolios offer clients a tailored range of services.

The company currently operates in 38 countries in five continents. Intensive training schemes in its in-house real estate academy and the high level of quality assurance governing its systematically structured service provision are key factors for the company’s success.

In 2012, Engel & Völkers was named Germany’s most valuable brand in the property broker category by the European Society for Real Estate Brand Observation.

For more information visit Engel& Völkers Sara Grech at The Emporium, Msida, call Benjamin Grech on 9949 4884 or e-mail Benjamin.Grech@engelvoelkers.com.

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