Styria 2023: Undervalue added - Ø 45% of market value
August 12, 2025
In 2023, Styria exhibited the most spectacular undervalue opportunities in Austria: On average, bids were awarded at only ≈ 45 % of the market value – a statistical outlier that rewarded targeted buying strategies. For comparison: The nationwide average in Austria in 2023 was ≈ 98 %, with a total of 703 dates counted.
Why Styria Delivered Undervalues in 2023
Three factors came together: first, a high regional concentration of dates (127 dates; top-3 among all federal states), second, an above-average transparency of bids (published in around 46 % of cases), and third, a market situation where bids remained below appraisals in many places. The result: numerous awards below market value – and thus ideal entry points for disciplined buyers.
“Undervalue” is not a coincidence but rather the result of supply breadth, price transparency, and sober due diligence – in 2023, Styria was the showcase for this.
Context: Austria in Transition – 2021 to 2024
- 2021: Wide surcharges – Ø Bid/Market Value at ≈ 176 %; Ø 128 days until auction (benchmark), with Carinthia the fastest (≈ 85) and Vienna the slowest (≈ 142).
- 2023: Normalization – Ø ≈ 98 %, top regions by dates: Lower Austria, Styria, Vienna.
- 2024: Stable near-market – Ø ≈ 101 % with 1,047 dates; condominiums with Ø 184 % being the most dynamic segment.
Success Stories from Practice – Typical Case Studies
The following examples are condensed, realistic scenarios based on the price relations observed in 2023 in Styria (Ø 45 %) as well as the nationwide distribution by object type. They demonstrate how undervaluations can be methodically exploited.
| Case | Location/Region | Type | Market Value | Award (Assumption) | Capex | Classification |
|---|---|---|---|---|---|---|
| A | Graz – close to city center | Condominium | € 220,000 | € 99,000 (≈ 45 % M) | € 35,000 | After renovation, marketable rent; strong yield leverage due to low entry. |
| B | Leoben – university environment | Multi-family house | € 780,000 | € 351,000 (≈ 45 % M) | € 180,000 | Asset with vacancy management; near-market awards in AT 2024: MFH Ø 116 % – Styria 2023 offered undervalue windows. |
| C | Bruck/Mur–Kapfenberg | Commercial/Studio | € 300,000 | € 135,000 (≈ 45 % M) | € 70,000 | Commercial was on average below M in AT in 2023 (Ø 40 %) – repurposing creates added value. |
How Successful Bidders Calculated
// Budget formula for disciplined bidding (residential focus)
V = Market Value (Appraisal)
S = Location/Quality Premium (0–2 % of V)
D = Risk Discount (−3 … −6 % of V) // Micro-location, legal/rental risks
P = Capex Buffer (8–12 % of V) // Technology, envelope, energy
N = Additional Costs (6–8 %)
MaxBid = V + S + D − P
TotalBudget = MaxBid × (1 + N)
Background: In 2023, Austria overall was at ≈ 98 % (near-market), but Styria was at ≈ 45 % – thus there was room for capex and safety discounts.
Workshop for Undervalues: Checklists & Levers
- Utilize Transparency: In Styria, bids were comparatively frequently published in 2023 (≈ 46 %). This sharpens price anchors and comparison values.
- Consolidate Date Density: June, September, and November stood out as strong auction months in 2023 – schedule viewings, financing, and alternatives (“Plan B/C”) accordingly.
- Type Logic: Nationwide in 2023: Condominium 231, Single-family Home 205, Land 118 – first layer search grids on these three types; select commercial for undervalue strategies.
- Focus on Execution: The planning value is Ø 128 days until auction (benchmark 2021). Plan project starts, interim financing, and handover dates accordingly.
- ESG & Capex: Consistently calculate energy shell and heating systems – they determine net returns more strongly than the pure purchase price leverage.
Hotspots within Styria – Where Searches are Worthwhile
- Graz: Micro-locations with proximity to public transport, university environment; high third-party usability. Check offers now.
- Leoben / Kapfenberg / Bruck an der Mur: Technical universities & industrial axes – solid demand, opportunities in existing stocks. To the regional overview.
- Deutschlandsberg, Hartberg-Fürstenfeld, Feldbach: Suburban and small town locations with substance – ideal for buy-&-refurbish. View dates.
Looking Ahead: What 2024/25 Means
The market is broader and, on average, near-market in 2024 (Ø ≈ 101 %). Undervalues like those in 2023 in Styria are rarer, but selectively still possible – especially in capex-intensive properties or special uses. Condominiums currently show the strongest award dynamics (Ø 184 %) and require strict upper limits.
FAQ – Short & Concise
Was Styria Really “Undervalue” in 2023?
Yes, on average the bids were at only ≈ 45 % of the market value – a clear outlier in comparison to the federal states.
How does this Rank Nationally?
Nationwide, the average in 2023 was ≈ 98 % (near-market awards).
How Should I Plan the Time Required?
Guideline Ø 128 days until auction; faster/slower depending on the federal state.
What Changed in 2024?
More dates (1,047) and near-market awards (Ø ≈ 101 %), condominiums particularly strong (Ø 184 %).
Conclusion
In 2023, Styria was the stage for clear undervalue awards – driven by high date density and transparent price formation. Those approaching the region with discipline, reliable calculations, and sound capex planning can seize such opportunities. For portfolios, it is worth comparing with other markets – such as Lower Austria (wide pipeline), Vienna (high transparency) or Tyrol/Salzburg (premium locations) – to play the right strategy in every market phase.
