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How much do you need to work to buy a property in Austria?

Many people dream of owning a home in Austria, but the length of time you need to work to buy a plot of land varies widely in different places in the country.

Published: 18 July 2024 16:20 CEST

How much do you need to work to buy a property in Austria?

The Austrian city of Kitzbühel, in Innsbruck (Photo by Shpëtim Ujkani on Unsplash)

Many people aspire to own a home in Austria, but the reality of achieving this varies considerably depending on location and income.

A recent study by OGM has shed light on the number of working hours required to purchase a property in different Austrian regions.

The differences between regions in Austria are enormous. A square metre of building land in the popular ski-resort location of Kitzbühel costs €2,527 (average 2019-2023), while in Jennersdorf in southern Burgenland, it is only a hundredth of that at €27.

READ ALSO: ‘Leerstandsabgabe’: Everything about Austria’s vacancy tax explained

In contrast, the regional differences in income are much smaller: Year-round employees in Kitzbühel (place of residence) earned an average of €43,451 gross per year in 2022, compared to €41,898 in Jennersdorf. For a 500 square metre plot of land, you statistically have to work for 29 years and one month in Kitzbühel, compared to just four months in Jennersdorf.

How much do you have to work to buy a plot of land?

Here’s how much you have to work in each state capital to buy a 500-square-metre plot of land—the study takes into account regional income differences.

Innsbruck: 18,5 years
Salzburg: 14,7 years
Vienna: 10,6 years
Bregenz: 9,9 years
Linz: 5,7 years
Graz: 4,4 years
Eisenstadt: 2,9 years
St. Pölten: 1,9 year
Klagenfurt: 1,9 year

In general, building plots tend to be more expensive in the west than in the east of the country. In Innsbruck, building plots cost €1,622 per square metre, in Salzburg €1,392, while in Vienna, they were available for as little as €1,018.

Sites close to the border in Burgenland and the Waldviertel are particularly cheaper, and if the transport links are poor, prices fall.

READ NEXT: EXPLAINED: Why people have stopped buying property in Austria

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Are the Austrian summer holidays simply too long for parents?

As another school year ends, parents still struggle to organise childcare for the nine-week summer break across Austria. The extended summer holiday, a staple of the Austrian education system, sparks an annual debate about its length and impact on families.

While the long break allows pupils to rest, recharge, and explore their interests, it poses significant challenges for working parents.

Many struggle to find affordable and reliable childcare options for extended periods, often resorting to juggling work schedules, relying on extended family, or paying for expensive summer camps.

READ ALSO: The best ideas for what to do with kids in Austria this summer

The debate on whether or not the “long” duration is “still appropriate” popped up again this year.

According to a recent survey by the Chamber of Labour (AK), parents spend an average of €415 per child on vacation care. Together with the trade union federation, the Chamber of Labour is calling for financial support and a sixth week of vacation for parents.

A Der Standard survey shows that 61 percent of parents take vacation days to care for children—though one parent taking all their yearly time off cannot cover a nine-week holiday. About 27 percent of parents work from home during the summer holidays, juggling childcare and their typical work tasks. Some 12 percent reduce their work hours (with, of course, a pay cut) to manage a long time without kindergarten and school.

Long ‘gap’

Some educational experts told Der Standard that the long nine-week holiday is “noticeable in the children’s performance.” Former teacher and now teacher trainer Verena Hohengasser told the daily newspaper that returning to school is a challenge for both children and teachers.

Education experts advocate for shorter summer vacations, with two weeks off in Whitsun (early June) and two weeks of Easter (around April). This model is followed by several German states, for example.

Critics point out that splitting summer vacations won’t solve the childcare problem – even if the nine weeks are not consecutive; they are still more than any parent can afford to take from work.

READ ALSO: When are Austria’s school summer holidays in 2024?

The childcare difficulties will only be solved by either giving parents more time off (something the AK advocates for, as mentioned), creating more public summer daycares and childcare facilities, or a combination of both.

EU comparison

However, Austria is far from having the longest summer holidays in the European Union.

Just like Austria, which has nine weeks of holidays, the Czech Republic, Slovenia, Sweden, Poland, and other Eastern European countries also have between eight and ten weeks.

Countries such as France, Switzerland, Germany, Denmark, and Norway have under eight weeks of summer school holidays. Meanwhile, Spain, Hungary, Serbia, Bulgaria, Turkey, and others offer students between 10 and 12 weeks of summer holidays.

As Austrian media reported, the longest time off is in Portugal, Italy, Ireland, Greece and Latvia, where students get more than 12 weeks of summer holidays.

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