Austrian Property Market Runs out of Steam
In Austria, the property market shows first tendencies of consolidation. The number of acquisitions was down in the first six months.
In the first half year, investments in the Austrian real estate market totalled € 8.1bn. As a result, the trade volume was down by 2.4%. In total, 43,246 sales were counted. This corresponds to a decrease of 5% against the first half year of 2011. At the moment, the number of properties is constant. However, the price curve begins to flatten, experts say.
Vienna is still…