Salzburg's real estate market has experienced turbulent years. After a long boom with record prices in 2021/22, a cooling-off period followed in 2023: Prices declined moderately (around -2,6% nationwide in 2023 [1] ), and sales figures also fell significantly. In 2024, prices largely stabilized (a "trend reversal" was even mentioned) – in many places, the price decline had already ended. What will the market look like at the end of 2025, and what does the future hold for 2026? This outlook examines current developments and offers a forecast for Salzburg.
Market development 2023–2025: from boom to consolidation
After the all-time high in real estate prices in 2022, the trend reversed: 2023 was characterized by rising interest rates and stricter lending guidelines, which dampened demand. Many buyers could no longer afford properties due to higher financing costs. As a result, the market cooled down – both price levels and transaction numbers declined. Around 109.000 properties were sold across Austria in 2024, significantly fewer than in the record years before [2] . Salzburg was no exception: After years of double-digit price increases, price levels stagnated or declined slightly in some segments.
However, 2025 brought signs of a recovery. The European Central Bank paused its sharp interest rate hikes of previous years, and mortgage rates began to decline slightly. According to the Austrian National Bank (OeNB), the lower interest rates in the first half of 2025 already led to a significantly increased demand for residential mortgages [3] . Furthermore, the strict KIM regulation (Credit Institutions' Real Estate Financing Measure) was not renewed in mid-2025 and expired. Since then, banks have had more leeway in lending [4] – for example, the rigid 20% equity requirement for buyers was eliminated. These relaxations had an effect: in 2025, transaction volume in the real estate market picked up again. According to experts, the number of real estate sales in Austria increased by around 16% in 2025 compared to the previous year [2] . In short: the trough appears to have been reached, and the market is gaining momentum again. While current prices in Salzburg are still slightly below their previous peaks, they remain at a historically high level.
Trends 2026: Demand, Prices and New Construction
A key trend in the Salzburg real estate market in 2026 is the focus on sustainability and energy efficiency. Given high energy costs and climate protection regulations, buyers are paying increasing attention to the energy performance of properties. Well-insulated houses, modern heating systems (e.g., heat pumps instead of old oil boilers), and a good energy performance certificate are becoming crucial selling points. Owners who invest in energy-efficient renovations before selling can significantly increase the attractiveness of their property. Overall, sustainably built or renovated properties in Salzburg are gaining further appreciation.
Quality over quantity also shapes the market. In 2026, demand will focus primarily on high-quality properties in prime locations. Apartments with well-designed floor plans, modern bathrooms, and contemporary amenities are in high demand. Single-family homes in suburban areas with good infrastructure will also remain popular. Very large, unrenovated older buildings or commercial properties, on the other hand, are less sought after – potential buyers are hesitant in these areas unless the location is prime [2] [3] . Generally speaking, attractive single-family homes and small apartments find buyers more quickly than unrenovated, specialized properties [2] . Sellers should therefore realistically assess the condition of their property and, if necessary, make moderate improvements to meet the expectations of their target buyer group.
Another trend: Financing conditions are easing slightly. Thanks to relaxed lending rules (the repeal of the KIM-VO) and stabilized interest rates, more families – especially young ones – are regaining access to mortgage loans. While banks remain cautious and require sufficient equity and income, financing a property in 2026 is somewhat more accessible than in previous years. This opens the market to additional buyer groups, which particularly benefits mid-priced properties. At the same time, rents in Salzburg continue to rise or remain at existing record levels, keeping real estate attractive as an investment. However, high purchase prices lead to relatively low returns (often around 2–3%), so investors, in addition to considering future investment costs, carefully calculate whether a purchase for rental purposes is worthwhile.
Outlook: What does this mean for buyers and sellers?
Salzburg's real estate market in 2026 will not experience any spectacular fluctuations, but rather a period of normalization. For owners looking to sell, this means good chances of achieving a fair price, especially for properties in prime locations or with unique features. While the absolute peak values of the boom years have receded somewhat, current prices remain close to their historically highest levels. Realistic pricing is crucial – inflated demands will be harder to enforce in 2026, as buyers will be comparing prices carefully. A professional property valuation beforehand provides clarity. IMMORIST, for example, offers in-depth market value analyses to help you start the sale with the right price and, through professional presentation, attracts the interest of suitable buyer groups for a swift transaction.
For prospective buyers, 2026 offers a respite: The supply of existing properties is still quite good, and extreme bidding wars like those of previous boom times are rare. At the same time, it could be strategically wise not to wait too long – in the medium term, many indicators point upwards again. Those who buy now can secure the currently stable prices before potentially stronger increases begin again in a few years. In addition, there is a time-limited incentive: Until the end of June 2026, the fees for land registry and mortgage registration are waived – under certain conditions – for the purchase of real estate as a primary residence [10] . This exemption saves several percent on ancillary costs – an advantage that buyers should take advantage of while it lasts.
Conclusion
The Salzburg real estate market is robust and balanced at the beginning of 2026. Neither buyers nor sellers have extreme advantages or disadvantages – a healthy equilibrium prevails. Those looking to sell – especially with IMMORIST as their partner – will find sufficient demand and, with good preparation, achieve attractive returns. Buyers will find a wider selection than a year ago and can make a more informed decision. In both cases, it pays to rely on expert advice. IMMORIST is your experienced partner in Salzburg – whether for market analysis, property valuation, sales, or purchase brokerage. This allows you to make the best possible use of the current market opportunities.
(Status: 03.12.2025)
Sources: Statistics Austria [1] ; Der Standard [2] ; OeNB (Austrian National Bank) [3] ; Der Standard [4]
Disclaimer: The content of this article has been carefully researched. However, we assume no liability for the accuracy, completeness, or timeliness of the information. This article is for general information purposes only and does not constitute legal or professional advice.
Source article: IMMORIST® – Copyright – All Rights Reserved © 2026
