Engel & Völkers is recording new price highs for luxury residential property in Kitzbühel. In prime locations, exclusive residences in a traditional Tyrol style are currently on the market for up to 40 million euros. This can be attributed to a sustained high in demand within the market’s premium segment, which is met with an inadequate number of available offers.
“The lack of building plots in absolutely prime locations is the predominant reason for this shortage in supply,” said Wolfgang Böhm, Managing Partner at Engel & Völkers in Kitzbühel. New development in extremely desirable locations is restricted in scope, as the landscape reserves are limited by the very nature of the terrain. Another reason is that many areas have been designated for nature conservation. “With this lack of available properties, residential property at prime addresses is currently an attractive and secure investment with potential for appreciation in value,” Mr. Böhm added.
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