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Engel & Völkers Licence Partner Innsbruck

Property in Innsbruck – Engel & Völkers, your local estate agent

Welcome to Engel & Völkers, your Innsbruck Estate Agent

What role does Innsbruck, the state capital of Tirol, play in the property market?

Politicalstability, sustainable economic growth, good infrastructure and an increasingpopulation all ensure attractive investment conditions and make Innsbruck asought-after place for both private and corporate investors to buy first-classproperty. Demand, above allfor well-situated and high-quality residential and commercial property, is highin the Innsbruck area. The name Engel & Völkers stands for quality serviceand a wide international network, and we are proud to represent it here inInnsbruck. The need for advice from qualified consultants in this regionis high, as both local and international customers are exacting in theirdemands. Engel & Völkers offers excellent services, and is playing a majorrole in internationalising the Innsbruck property market.


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Saturday

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Engel & Völkers
Licence Partner Innsbruck
  • Meraner Straße 7
    6020 Innsbruck
    Austria
  • Fax: +43 512 55 10 77 10

Factsand figures:

Innsbruck,the state capital of Tirol, constitutes the administrative district ofInnsbruck-Stadt. Geographically, this area encompasses the wide Inn Valley atthe mouth of the Wipp Valley, a section of the southern Mittelgebirge regionwith the boroughs of Igls and Vill, and also part of the Karwendel Mountains tothe north.

Thecity's location at the intersection of important north-south and east-westhighways makes it well situated to serve as a major economic, trade andadministrative centre.

Innsbruckis also an important university city, and has a lot to offer in the areas ofeducation, culture and sport. The medical sector in particular stands out.

Thecity has an airport with well-developed facilities, which is of greatimportance to the population and the economy, in particular the West Austriantourism sector.

Withsuch an impressive location and so much to offer, it is no surprise thatInnsbruck attracts so many visitors, most notably winter holidaymakers andconference attendees.

Inrecent years, the working population has risen continually, and at an evenhigher rate than the total population. From around 63,000 in 1971 it rose to88,000 in 2012. The gross value added (GVA) per capita in the Innsbruck-Stadtdistrict currently lies at almost €45,000; this is one of the highest values inall of Austria.

Innsbruckis the fifth largest city in Austria, and provides not only a perfect place foraround 90,000 employees and entrepreneurs to work, but also a hugely popularand invigorating place to live. The population is constantly increasing, thanksto the outstanding living and working conditions in our Alpine city.

Thepopulation of Innsbruck also boasts an above-average level of education;whilst, on average, around 13% of Austrian citizens have a higher educationqualification, the proportion in Innsbruck is around 23%. The Alpine metropolisis home to a wide range of educational institutions, including the ManagementCenter Innsbruck, currently planning to relocate to a new campus in the Fennerarealarea, the Pedagogical University of Tirol, the Medical University and theUniversity of Innsbruck. The University of Innsbruck is of particularimportance, with almost 28,000 students.

Innsbruck'scultural life will soon receive new impetus, with construction of the Haus derMusik (House of Music) to begin later in 2015. The city's leisure facilitieswill also be expanded by another major project set to begin construction in2015 – a new climbing centre in the WUB-Areal area, which is planned to serveas the venue for the 2018 Climbing World Championships.

Expansionof the public transport system and the reduction in price of the annual seasonticket have laid the tracks for a successful ride into the future, especiallywith regards to sustainability and quality of life.

Markettrends:

Thenumber of sales has risen compared to last year, the number of prospectivecustomers, particularly prospective investors, has decreased, and the marketingperiod of properties is getting longer. The market has stabilised somewhat, butat a fairly high price level.

Pricetrends:

InInnsbruck, the last year has seen an increase in transactions for flats, inboth new developments and existing buildings. Purchase prices for existingflats have increased by around a third over the last 10 years. These trendsshow that the demand for housing is as high as ever. Prices of flats in new andexisting buildings have been climbing steadily for years. This shows thatproperty in Innsbruck remains appealing for both owner-occupiers and investorsfrom Austria and from abroad.

Preferredlocations:

Innsbruckis a popular city with locals and visitors alike. Flats and houses with asouth-west facing terrace are especially in demand. These tend to be found insunny locations such as the borough of Hötting, the Hungerburg district as wellas Lans, Aldrans and Igls in the southern Mittelgebirge region. Community lifein Innsbruck is colourful and diverse, and provides a high quality of life forevery age group.

Acentral but quiet location is the main criterion that clients look for inInnsbruck. The most sought-after properties are new villas, detached houses,town houses and flats with high-quality furnishings.

AsInnsbruck is a student city, investment property is another important market.Both one-room flats and flats with several rooms, suitable for rental as sharedstudent accommodation, are in demand and fetch high prices.

Pricesby district:

Whichdistrict of Innsbruck is the most expensive? The highest prices for flats arein Hötting, a tranquil area near to the city centre.

Anew flat there costs €5,528 per m², which is slightly higher (by €2 per m²)than prices in the centre itself. Existing flats in Hötting also costsignificantly more than the city average, at €3,377 per m².

Thehighest prices for existing flats, however, are to be found in another district– the Hungerburg. The five such flats recently sold there in “Upper Innsbruck”had an average price of €4,056 per m², a hefty increase of over 70% compared toprices from the previous year. Next to Hötting, the city centre and theHungerburg, other expensive districts include Saggen, St. Nikolaus-Mariahilfand Arzl.