Building a house today costs an average of 537,000 euros

Brick manufacturer Wienerberger calls for house builder bonus and recommends prospective builders to extend the construction period

Vienna – The cost of an average single-family home in Austria has risen by around 39 percent – from 386,000 in 2018 to 537,000 euros in 2022, including land. This is the result of a survey conducted by the Market Institute on behalf of the brick manufacturer Wienerberger.

The company is taking these price increases as an opportunity to call for a house builder bonus in the amount of 6,000 euros as well as a reduction in VAT on building materials and services. According to managing director Johann Marchner, a Wienerberger brick costs about ten percent more this year than last year.

More worries and fears

But although costs have risen and, according to the study, worries and fears about building have increased, many people still dream of owning their own home – 67 percent according to this study. The survey did not include a representative group of the Austrian population, but only people who already own a house or are currently building or buying one. There is also a group in Austria that does not want to build a house, confirms Market Director Birgit Starmayr, but this group has not changed much over the years.

One of the reasons for building a house is that, according to the respondents, it is an energy-saving form of housing. At the same time, more and more of them want a wellness area or swimming pool.

Houses are getting smaller

One consequence of the high costs, however, is that people are now building smaller houses. Whereas 90 per cent wanted to live in a house of over 150 square metres, 36 per cent now do not want to go beyond 120 square metres.

But how can women with normal incomes afford to build a 537,000 euro house today? Marchner advises, for example, to extend the building period, as in the past, in order to spread the financial burden.

Note: The cost of a single-family house also includes the price of the land. This information was added to the article on 18.11. at 7.30.

Source: Standard.at, 17.11.2022

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Mosam Real Estate was founded in 2017 and is headquartered in Vienna. The owner-managed company sees itself as a comprehensive real estate service provider and residential developer. The focus is on the high-quality marketing of residential and commercial properties throughout Austria, as well as the renovation and construction of residential buildings, taking into account the current possibilities of sustainable and climate-friendly building materials and construction methods.

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