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AUSTRIA

How living in Austria will change your lifestyle

Whether for better or worse, many foreigners find that their habits alter after living in Austria for some time. Here, a few veteran expats share their experiences of how Austrian culture has changed their lifestyles.

How living in Austria will change your lifestyle
Hallstatt. Breathe... and relax. Photo: Peperoni/Flickr

Learning to relax

Moving to Austria seems to result in a positive shift for most people’s work-life balance.

Angie Trask, who moved to Vienna from the UK a year ago, has noticed that the approach to holidays and relaxation is quite different.

“Many Viennese businesses are closed during the whole of August and weekends begin for many on a Friday when work is finished early and they escape to the lakes where the air is fresher.”

“Shopping hours are also restricted – and I still can’t get used to the Sunday closures! I came to Vienna on my honeymoon and I’ll always retain this image of Vienna being full of people sipping Aperol spritzer in the late afternoon – the glint of orange everywhere. That welcoming attitude to down tools and just chill is refreshing. Am I more relaxed? I’m working on it”.

Maddy French, a freelance journalist from the UK, agrees. “Generally my lifestyle is much more laid back in Austria. I have a more relaxed attitude towards working hours. I have learnt to live life a bit slower and now spend more time on leisure activities, particularly in the summer when it’s possible to go wild swimming for free in the lakes.”

Appreciation for quality food

Photo: Tania Ho/Flickr

The quality of food in Austria is generally very good, and supermarkets and grocery shops tend to stock an abundance of local, organic and seasonal foods – asparagus in the spring, strawberries in the summer, apples and pumpkins in autumn.

“Organic foods are not only common, but lower priced by comparison than in Canada,” Canadian expat Suzanne Campbell told The Local.

“The food quality is really excellent overall and I trust in the quality of all edibles that come from Austria, more than at home, where the factories are bigger and businesses more impersonal. They even have the farmer’s name on the meat and eggs here! I also really enjoy the regional specialities – like pumpkin seed oil, or Käferbohnen (which are really the size of beetles!) The country has a nice rhythm of seasonal foods which it specializes in too, like Sturm (fermented freshly pressed grape juice), which is only around for a few weeks of the year.”

Fitter, happier, more productive

Mountains are for climbing… Photo: Griesneralm.com

Elaine Reed Milman is from the US and says that she loves not having to be reliant on a car in Austria.

“I spent countless hours stuck in traffic jams in Miami every single day. All in all I feel that my life here is much healthier – I eat less processed food, I walk more, I drink lots of water instead of soda, and I got rid of my television.”

Suzanne from Canada also says that she bikes and walks more when she’s in Austria.

“I start to gain weight when I’m back in Canada for more than a month because it is not so walk-friendly! I bike to work on nice days here and have direct bike paths to the office that are not on roads… the bike paths in Vienna are excellent and the nice weather lasts longer.” And then, of course, there’s skiing in the winter.

Good working conditions

Vienna International Center. Photo: Kiefer/Flickr

Many expats say that being freelance or self-employed can feel precarious, but once you get a coveted Angestellt (permanent) contract the conditions become much better. Malcolm Uzzell, from the UK, works in Vienna and thinks the work culture is better in Austria.

“I seem to get more bonuses and perks working here and it feels like the unions are directly behind the workers. The double payment system in the summer and at Christmas is also a great idea and I think for all of these reasons I actually look forward to going to work.”

And taking a full hour lunch break, away from your desk, is par for the course in most offices, rather than a rushed 15 minutes buying a supermarket sandwich to eat at your computer.

Take a train not a plane

Photo: ÖBB Railjet

Living in Austria, bang in the middle of Europe, makes it possible to avoid planes for many trips abroad and stick to trains. Whilst going on holiday to Europe from the UK means you are pretty much obliged to get on a plane, Austria offers a far more relaxed version.

With Budapest and Prague just a few hours away from Vienna, and Munich, Zurich and Venice all reachable by train, why spend time waiting in queues at the airport and being squeezed into a tiny plane seat?

Views of stunning mountains and lush alpine meadows will entertain you as you sit in the restaurant car of one of Austria’s fast and efficient ÖBB Railjet trains, smug in the knowledge that you’re also being kind to the environment. And you can save up to 50 percent on ticket prices with an ÖBB Vorteilscard.  

NOTE: A version of this article first appeared on The Local Austria in October 2015. 

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PROPERTY

What will happen to Austria’s property market in 2022?

The property market in Austria performed well in 2021 with rising prices and high demand. Will this continue in Austria in 2022?

Austrian chalets
Whether you're looking to buy a first or second home in Austria, here's what experts predict for the property market. Photo: Finease Anton/Unsplash

As we near the end of 2021, Austria is in another national lockdown and many businesses are closed, but the property market is still riding high.

This means 2022 could be another strong year for property in Austria, although prices might start to stabilise over the next 12 months.

Here’s what you need to know.

READ ALSO: Why are property prices in Austria’s Tyrol region so high?

What can we expect from Austria’s property market in 2022?

Experts are predicting the high demand in the property market to continue throughout 2022, especially in rural areas and in the luxury homes market.

Justin Field, Marketing Director at property consultants Amazing Austria, told The Local: “The movement of people [as a result of the pandemic) created a demand for more country properties so people could work from home.

“Due to the uncertainty over the virus for the coming year, we would expect the local market to stay buoyant with demand for larger family homes in villages.”

READ MORE: Why are property prices in Austria’s Tyrol region so high?

Maizie Delaney Baird, Property Consultant at ski chalet specialists Lindforth, said they are receiving high numbers of enquiries from buyers looking for an investment property, despite the current national lockdown.

Maizie told The Local: “We still have a backlog of clients who wanted to buy last year but had to put their searches on pause. Additionally, many new buyers, especially Germans, have been inspired by the pandemic to invest in their family lifestyles. 

“Many of our clients want to buy a lifestyle investment property in Austria – a place they can holiday and “work from chalet” on occasion, but also rent out to earn an income.”

However, Justin at Amazing Austria predicts prices could start to stabilise or even drop during the next year.

He said: With the uncertainty of corona, and as personal debt ratios in Austria rise, my own thoughts are that the property market will level out in 2022, or even reduce as debt catches up with people and businesses.”

READ ALSO: Can foreigners buy property in Austria?

Property market trends and hot spots in Austria

Since the start of the pandemic in spring 2020, the Alps region in western Austria has been experiencing a real estate boom as both Austrians and foreigners have sought to buy property in the mountains.

Maizie told The Local it is a seller’s market right now with high demand and a shortage of supply.

She said: “With few chalets becoming available to buy there is a lot of competition so buyers need to be quick and determined if they wish to find their dream chalet, especially in the top resorts.

“In terms of prices, property in world-famous and glamorous Lech am Arlberg [Vorarlberg] are some of the highest in Austria and average around €20,000 per square meter. 

“Whereas, in sporty Zürs am Arlberg, sharing the same ski region and just five minutes away by car, prices average around €15,000 per square meter.”

FOR MEMBERS: Altbau vs Neubau: What’s the difference and which should I rent in Austria?

Elsewhere in Austria there is a similar story, although prices aren’t rising to the same extent as in the Alps.

For example, in Vienna prices have risen by around 12 percent in all districts to an average of €5,800 per square meter (sqm), and luxury properties have gone up by 23 percent to €14,500 per sqm.

In Penzing, prices have gone up by 19 percent in the past year after the average price per sqm exceeded €5,000. In Donaustadt, prices rose by 15 percent to €4,870 per sqm.

What happened to Austria’s property market in 2021?

In the first half of 2021, the House Price Index (HPI), which measures changes in residential property prices, increased from 142.85 in January to 150.77 in July – an all-time high. 

To compare, in June 2020 the HPI in Austria reached 135.11. This was the highest ever recorded level at the time.

Earlier this year, a study by Deloitte showed that new apartment prices in Austria were the most expensive in Europe with a 70 sqm apartment costing an average of 10.6 times the national annual salary.

Gabriele Etzl, real estate expert and partner at Jank Weiler Operenyi / Deloitte Legal, said: “The rising construction costs and the high attractiveness of real estate as an investment form are the main reasons for this price development.”

FOR MEMBERS: Seven common mistakes to avoid when buying a home in Austria

Rising prices have since prompted the Österreichische Nationalbank (OeNB) to warn of overheating in the housing market after it was revealed property prices across Austria have doubled since the beginning of 2010.

The average price increase across the Eurozone in the past decade is just one third.

In fact, some experts say residential property prices are currently overvalued by around 30 percent and there are concerns about the steep growth in mortgages in Austria, which is outpacing the average across Europe.

Stefan Selden, banking advisor at 720° Restructuring & Advisory, told Der Standard: “The development of real estate prices is undoubtedly wild.”

However, according to ImmoScout24, the cost of rent in Austria in 2021 only rose by 1.6 percent, compared to 4.6 percent in 2020. The average cost for a 70 sqm apartment in Austria is €944.

Tyrol remains the most expensive province for rent, followed by Vienna and Vorarlberg.

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