House Price Index rose by 7.6% in 2020

Press release: 12.474-065/21

Vienna,2021-03-26 - In 2020, the House Price Index (HPI 2010) rose by 7.6% compared to 2019, as Statistics Austria reports (2019: +5.8%, 2018: +4.7%).

'In the Corona year 2020, the demand of private households on the residential property market did raise significantly. About 5.7% more flats and houses were purchased by private households than in the previous year. Flats in rural areas were particularly in demand, with purchases increasing by a fifth. In line with demand, prices did also rise: Compared to 2019, houses and flats became 7.6% more expensive. In the last ten years, this price increase was only exceeded in 2016,' says Statistics Austria Director General Tobias Thomas.

Prices of new dwellings rose by 6.4% while those of existing dwellings were 8.0% higher than in 2019. The index is based on the purchases of new and existing houses and apartments by private households. The actual transaction prices are recorded and evaluated quarterly.

The index level for the year 2020 of the HPI 2010 was 177.38. The fourth quarter 2020 showed an index level of 181.40.

The Owner Occupied Housing Index (OOH 2010) rose by 4.1% in 2020 (2019: +3.9%, 2018: +4.2%) with an average index level of 136.56 in 2020.

For more detailed information please refer to the German version.