Falling net rents in Graz – Rustler with real data analysis
News | 12.04.2023
The boom in new construction in Graz, which has continued unabated for years, means that almost as many new apartments come onto the market each year as the number of residents moving in.
The average rent across all apartment sizes and districts for equipment category A in Graz is currently around € 8.27 per square meter of usable living space, which is around € 2.20 below the average for Vienna.
“Due to the downright huge supply of available apartments in Graz, rents have now fallen again, contrary to last year’s trend of a moderate increase, as they already did in 2020, and specifically by around 5 percent in 2022,” explains Rustler Research team leader Maximilian Kainz.
“Graz is a good example of how supply and demand influence the market. A rental apartment seeker can currently find several thousand apartment offers on the leading real estate portals,” adds the managing director of Rustler Immobilien Alexander Scheuch.
The pursuit of a popular postal zip code loses thereby ever more at meaning. A good example for it are the districts Lend and Gries, which were considered for a long time as unpopular and developed in the last years particularly for young humans to trend locations, one reports with Rustler.