Buying property in the federal state of Styria

Styria is a federal land in the south-east of Austria. There are a lot of historic and cultural landmarks here, which attract a large number of tourists all year round.

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Styria is a federal land in the south-east of Austria.

There are a lot of historic and cultural landmarks here, which attract a large number of tourists all year round. Styria, being the main industrial region of Austria, provides more than 10% of the country's budget revenues.

High economic indicators and tourist interest make the purchase of property in this federal state a profitable investment. We have prepared an article that contains details about features, main attractions, cultural specificity, economic situation and the average real estate prices in Styria.

Buying property in the federal state of Styria

FEATURES

01

The second largest federal state in Austria
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Styria is the second-largest federal land in Austria. It is situated in the southeast of the country and is bordered by Slovenia and several other Austrian regions such as Burgenland, Salzburg, Upper Austria, Lower Austria and Carinthia. The capital of the federal land is Graz, which is the second most populous Austrian city.Styria occupies an area of 16,392 sq. km, with many ski resorts and national parks in the northern and the western extensions of the land. Major cities of Styria include Graz, Leibnitz, Leoben, Kapfenberg, Bruck, Feldbach, Knittelfeld and Weiz.

02

Widespread use of innovations
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The economic concept of Styria is a regional specialization. The main attention is paid to green tech, mobility and life sciences. Plant construction, microelectronics, logistics, timber and creative industries are other innovative directions for Styria.

03

The production of high-quality wines
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The region does not produce wine in large quantities, but Styria offers a wide range of wines for every taste. About 75% of its production here are white wines. Styria is known for Sauvignon Blanc wines, in which the high quality is a result of the warm Mediterranean climate in the region.

04

«The green heart» of Austria
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Styria is the green heart of Austria. Approximately 60% of the area is covered with forests, with the Alps located in the north of the federal state

05

Various entertainment destinations
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Some of them are Schlossberg, the Landeszeughaus museum and Red Bull Ring auto racing tracks.

Culture plays a big role in Styria. Examples of traditions and cultural events in the region are The Carnival Run in Murau, Laßnitz Folk Plays, Ratschen during Holy Week (a noise-making tradition), carnival in the Ausseerland region, festive practices of the civic guards and militias of the district of Murau as well as many more.

The folk culture of Styria is expressed in folk music, arts and crafts as well as traditional costume fashion. Almost every major city in Styria has a gallery, museum or theater. During the Easter and Christmas seasons, regional arts and crafts are presented in all their diversity.

CULTURE

There are 2 UNESCO World Heritage Sites in Styria:

1. The area along the Semmering Railway and the surrounding Upper Styria area. The Semmering Railway is the first mountain railway line in the world, which covers a distance of 41 kilometers and connects the towns of Mürzzuschlag and Gloggnitz.

2. The historic centre of Graz and Schloss Eggenberg. Parks, alleys and Planet Garden are located here. Schloss Eggenberg has the remarkable architecture of the baroque palace. The castle preserves original furnishings and collections of Universalmuseum Joanneum.

Preparing for the Christmas season is an important part of Styria's heritage. People decorate houses with colourful Advent wreaths. Every year on 5 December, Saint Nicholas is accompanied by scary figures like the Krampuses and brings gifts for the children. Apples, nuts, candles, a Christmas tree and traditional straw stars are an integral part of every Christmas holiday on December 24 and 25. Special workshops on making Christmas wreaths, lanterns and painting Christmas tree trinkets are held in Styria, where lovers of decorative and applied art can come and take part.

Styria has a lot of historic, cultural and natural attractions. Tourists all around the world come here to explore castles such as Schloss Eggenberg, Riegersburg Castle, Schloss Seggau, Schloss Kornberg and more. Visitors to Styria can save money when visiting attractions if they open the Steiermark Card. This card provides free admission or discounts for more than 150 famous attractions in the region. The validity period is from April to October and costs EUR 80.

LANDMARKS

Green Lake (Grüner See)

Admont Abbey

The city of Tal

Lurgrotte

The commercial and industrial sectors are well developed in the region, while the service sphere is the largest economic sector in Styria because more than 70% of all employees work in this industry.

Styria is the main industrial region of Austria, which contributes more than 10% of the country's revenue.

A huge number of big companies operate in Styria in different sectors of activity. For example, BDI, Siemens and Andritz are leaders in the field of green tech, while AVL List, EPCOS and NXP Semiconductors Austria successfully operate in the sector of microelectronics.

Styria is also the most innovative region in Austria. Approximately EUR 1.75B is invested in research and development every year.

ECONOMY

According to the Economic Strategy Styria 2025, the federal-state is aimed at becoming a Europe-wide benchmark for development based on knowledge and sustainable usage of resources by 2025. The main qualifications for Styria are knowledge and innovation power.

The economy of Styria is based on 11 main spheres, which are successful due to top industrial companies located in the region and training and research facilities in Styria. The key sectors include:

- Automotive, Mobility
- Engineering, Plant Engineering
- Wood, Paper, Timber Construction
- Energy and Environmental Engineering
- Human Technology
- Food Technology
- Nanotechnology and Microtechnology
- Creative Industries
- TIME (Telecommunication, IT, New Media, Electronics)
- Simulation, Mathematical Modelling of Materials

Because of the high quality of life, real estate prices in Styria are kept at a high level. Thus, the average price for residential real estate in the capital and the largest city - Graz - is about EUR 3,600 per square meter.

The location affects the cost of housing. For example, the best locations in the city of Graz for purchasing the property are in the center of town: Waltendorf, Andritz, Sankt Peter, Sankt Leonhard and Geidorf. The cost of a freehold apartment in these districts ranges from EUR 5,500 to EUR 8,500 per sq. m. Sale prices for detached and semi-detached houses in the above-mentioned locations range from EUR 400,000 to EUR 2,000,000.Holiday homes for sale in Styria are in high demand due to the excellent rentability of such properties.

The most popular places for holiday homes comprise southern Styria and Schladming-Dachstein. The latter is a big and popular tourist destination in northwestern Styria. Demand for holiday houses is particularly strong in the luxury segment and prices can reach up to EUR 2M.

NOTE: To learn more about the peculiarities of the buying real estate process in Austria, read this article.

REAL ESTATE PRICES

WHY IS IT WORTH BUYING HERE?

Styria is an attractive region for buying real estate in Austria, both for living and for renting, due to the well developed infrastructure, a variety of tourist routes and high rental payback.

Most of the population in Austria prefer to rent housing rather than buy, so landlords can count on a stable passive income. According to the RE/MAX company, the demand for housing increased by 3.3% in 2021 in Styria.

Condominiums and single-family homes were in steady demand in 2021. The main reasons for this was the COVID-19 pandemic and the desire to live in a home surrounded by greenery. In the secondary housing sector, 2-bedroom apartments with an area of more than 80 sq. m. are the most popular properties. Townhouses are a frequent real estate choice, located on the outskirts of cities in Styria.

Property prices in the federal state are growing every year, so the return on investment is only increasing. For example, the increase in the prices of condominiums in the central regions of Styria in 2021 was 1.2%. On the outskirts of cities, the increase of property prices was 1.5%.

The housing stock in Styria is represented by both restored historical buildings and new residential complexes. In the capital of the state – the city of Graz,you can find a large number of late-Gothic houses, because the region is considered a World Heritage site with the Schlossberg castle.

We offer all the options from the above. We will choose what suits you the Styria is an excellent choice if you want to move to Austria because the region is characterized by its high quality of life. The federal land is one of the centers of internal migration in Austria with an excellent ecology system. Moreover, it is easy to set up a company in Austria, because municipal authorities actively support all businesses.

It is very convenient to travel in Styria as railway and automobile lines run through the entire region. In addition, in 2026 Styria plans to complete a local transport project – S-Bahn Styria, which will connect Southern Styria, Upper Styria and Graz. The S‑Bahn will also run high-speed trains with a connection every 15 to 30 minutes.
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Obligatory insurance in Austria applies to all citizens so all residents are insured automatically under certain circumstances. Insurance comprises accident, health and pension coverage.

Residents in Styria enjoy a high level of social security. If a person loses their job temporarily, the Public Employment Service Austria provides placement support, advice, as well as vocational training.

In a case where a job seeker has already worked in the EU in the past 2 years for at least 52 weeks and in Austria for at least one day, these individuals will also be entitled to unemployment allowance. Families in Styria also receive financial support, including allowances for each child until their 19th birthday.

If you are planning to buy a house in Styria, it is important to remember the specific rules for the purchase of real estate here, as with other federal states of Austria.

Seeking help from a professional real estate agent will not only save time and effort but will also help you find the best real estate option for you.

Specialists of Luxury Immobilien GmbH are ready to provide you with full assistance regarding the Austrian property market, including legal support from our highly skilled lawyers and housing mortgage lending.

Our agents can also help you to get a residence permit in Austria and provide real estate financing services.


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Anna Pilnikova
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ap@luxury-vienna.com
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