How the foreclosure market is developing in Austria

The Austrian foreclosure market has visibly changed over four years: from wide surcharges (2021) through a normalization phase (2022/2023) to a stable, predictable awarding practice in 2024 – while significantly increasing the frequency of dates. Understanding this development and thinking regionally increases the chance of being awarded at prices that hold.

2021–2024 at a glance: From surcharge waves to market alignment

Year	Total dates	Ø Bid/Property value	Signal
2021	830	≈ 176 %	Wide surcharges, tight markets.
2022	771	≈ 142 %	Normalization continues.
2023	703	≈ 98 %	Market alignment as new standard.
2024	1.047	≈ 101 %	Stable & predictable, significant expansion of offerings.

Note: In 2024, the number of dates increased (+48.9 %), while the total volume of stated property values decreased to 272.13 million €.

Regional distribution: Where Austria's pipeline is strongest

In 2024, the largest selection is concentrated in the east: Lower Austria leads with 278 dates, followed by Vienna (181) and Styria (125). The least dates were recorded in Vorarlberg (32). Per capita, Burgenland is the leader in 2024 (35.3/100,000), followed by Lower Austria (16.5) and Salzburg (15.2).

Price transparency also varies: in 2023, bids were published above average in Vienna (≈ 63 % of cases), while in Salzburg, this was rare (≈ 3 %). For the predictability of processing, the benchmark from 2021 applies: Ø 128 days until the hearing; Carinthia was faster (≈ 85 days), Vienna slower (≈ 142 days).

Price reality by federal state: Alpine surcharges vs. lower limits

2024: Highest awards in Tyrol (Ø 234 %), followed by Styria (Ø 206 %). Lower limit: Vorarlberg (Ø 158 %).
2023: Significant spread: Vorarlberg Ø 288 %, Styria Ø 45 %, Burgenland Ø 64 %.

Interpretation: In alpine premium locations, surcharges are more likely; in selected eastern locations, market-aligned or lower awards occur more frequently – provided that Capex and use are solidly calculated.

Property types in transition: Pipeline & awards

Pipeline 2024: Condominiums 349, single-family homes 264 (together ≈ 58.5 % of all dates), plots 208.
Awards 2024: Condominiums Ø 184 % (highest surcharges), multi-family homes Ø 116 % (market-aligned).
2023 – Type patterns: Residential buildings Ø 240 %, single-family homes Ø 120 %, condominiums Ø 113 %, commercial Ø 40 %.
2022 H1 – Plots: Ø 194 % (peak value), commercial Ø 70 % (often below property value).

Seasonality & timing

In 2024, November is the strongest auction month with 128 dates (lowest number in April). In 2023, peaks occurred in June, September, and November. Consequence: Time due diligence, financing, and reserve strategies for these peak phases.

Technical market explanation: Why awards are "market-aligned" today

In 2021, surcharges were visible over appraisals in many places; in 2022/2023, awards and property values adjusted, and in 2024, the relationship stabilizes. Structural drivers include appraisal cycles, interest rate environment, and – according to expert opinion – handling energy efficiency and decarbonization (Capex needs, housing rights). For buyers, this means: upper limits based on facts instead of euphoria, realistically price Capex.

// Bid calculation (residential focus)
V = Property value (appraisal)
S = Location/quality premium (0–3 % of V)
D = Risk discount (−2 … −6 % of V)     // Micro location, rental/vacancy risk
P = Capex buffer (8–12 % of V)          // Technology, shell, energy
N = Additional costs (6–8 %)

MaxBid     = V + S + D − P
TotalBudget = MaxBid × (1 + N)

// Commercial/special (higher variance):
// S = 0; D = −5 … −10 %; P = 12–20 %  → Intentionally aim for below value

Justification: Austria-wide Ø awards in 2023/2024 of 98–101 % make the property value a hard anchor; deviations are driven by the object and location.

Regions in portrait: Strengths & application cases

Vienna & large cities

Vienna offers many dates in 2024 (181) and above-average transparency (2023 ≈ 63 % published winning bids). Ideal for condominium strategies with rental options – clear upper limits are necessary since condominiums show the highest bid rates in 2024. Hotspots outside of Vienna: Graz, Linz.

Lower Austria: City outskirts as a scaling area

With 278 dates, Lower Austria is the largest stage in 2024 – ideal for serial search grids (condominiums/single-family homes/plots). Corridors around St. Pölten, Baden, Mödling, Wiener Neustadt, Tulln, and Korneuburg provide many comparison values – good for discipline in bidding.

Styria: Bidding region with breadth

Styria secures selection in the city and region with 125 dates in 2024. Awards remain high nationwide (Ø 206 %) – sharply define the buy box, keep alternatives.

Burgenland: Per capita champion

Burgenland leads in 2024 per inhabitant (35.3/100,000). In 2023, some awards were recorded below property value (Ø 64 %) – careful examination allows for attractive entries, e.g., in Eisenstadt and Neusiedl am See.

Tyrol & Salzburg: Premium, but price-sensitive

In Tyrol (e.g., Innsbruck), Ø 234 % in 2024 shows the strongest surcharges. Salzburg is harder to calibrate due to low publication of winning bids – set upper limits strictly, prepare alternatives in the east.

Carinthia: Predictable processing

Carinthia combines Klagenfurt/Villach with a good processing speed (≈ 85 days until the hearing, 2021). In 2024, 87 dates are available – ideal for planning renovation starts.

Vorarlberg: Small market, wide range

Vorarlberg has a low number of dates in 2024 (32), with historically strong fluctuations (2023 Ø 288 % vs. 2024 Ø 158 %). For Bregenz & Co., this means: tight screening, hard caps.

Practice: How the development is reflected in tactics

Data as upper limit: In 2023/2024, awards are on average market-aligned (98–101 %). The property value is the anchor, not the starting point for surcharges.
Consciously combine regions: Connect selections in Lower Austria/Vienna with price brackets in Burgenland or inventory-oriented multi-family homes in Styria.
Select property type appropriately: Condominiums are the bidder class in 2024, multi-family homes are market-aligned entry fields; commercial properties require expertise and offer below-value opportunities.
Use the season: Prepare for Q4 peak, especially November.

FAQ – Briefly answered

How has the number of dates developed?
From 830 (2021) to 771 (2022) and 703 (2023) to 1.047 (2024).

How have the awards developed?
Ø Bid/property value from 176 % (2021) to 142 % (2022), 98 % (2023), and 101 % (2024).

Where will there be the most selection in 2024?
Lower Austria, Vienna, Styria. Per capita, Burgenland leads.

Which types are currently in demand?
Condominiums and single-family homes dominate the pipeline; condominiums show the highest surcharges in 2024, while multi-family homes remain market-aligned.

How long does processing take?
Benchmark ≈ 128 days until the hearing (faster in Carinthia, slower in Vienna).

Conclusion

The Austrian auction market is broader, more transparent, and more calculable in 2024 than in previous years. Those who utilize regional logic – from urban depth in Vienna through the pipeline in Lower Austria to strong per capita opportunities in Burgenland – and derive upper limits disciplined from data will benefit from a market that awards close to the property value while still offering selective leeway.