Living Moments - N°3 Edition 2015/16

www.private-residences.net 7TaTYR 8ZXPY_^ 65 buehel, due to the continuously increasing price level, the majority of the buyers in these price segments resort to the surrounding localities. Communities such as Reith, Aurach, Jochberg, Kirchberg and Going have been profiting over- proportionally from this development and this has led to a stronger adjustment of the price levels among these individual villages and towns. According to our estimation, the deciding factor for the majority of interested buyers is the micro- location combined, with the quality of the indi- vidual properties, that determines the purchase of real estate and not – as used to be the case – the desire for a piece of real estate within the district of Kitzbuehel. Customers who have focused on a luxurious domicile within Kitzbuehel will have to reckon with a considerable rise in prices for apartments and houses that are still in the planning phase. The “sale” of new residences in the moderate price segment in Kitzbuehel in the winter of 2014/2015, which led to an alarming shortage of supply, along with the restricted building permit policy in the town with the chamois emblem, underscores this assessment. Another extremely important sign regarding the development of the price level of the Kitzbuehel real estate market is the State of Tyrol Report on Land Transfer, which has just been published. This annual report by the state government is said to be the mirror of the soul of land and property in Tyrol, according to the Tiroler Tageszeitung (Tyrolean Daily) of May 2015. The purchase and sale of property of all kinds is listed here: meaning developed, undeveloped or properties used for agriculture. The development clearly confirms the purchasing boom of the past year, which nat- urally has had its effect on the price development. In 2014, 16,680 apartments, houses or plots changed hands throughout Tyrol – 2,580 more than in 2013. However, the emphasis of the un- doubted continuing demand for residences is from other EU countries. Nearly 6,800 citizens fromother EU countries bought real estate inTyrol in the past five years. In 2014 alone they numbered 1,300. In its publication this year, the Land Transfer Report refers to an adjustment of acqui- sitions at a consistently high level in the last few reported years. Regarding this, no change or greater deviation below this point is to be expected. The districts of Kitzbuehel, Kufstein, Innsbruck and Innsbruck Land are among the most coveted addresses. Of the 1,300 developed or undeveloped plots which had been acquired in the previous year, 540 are in Kitzbuehel. De facto, it is obvious that particularly popular locations, such as in and around Kitzbuehel, command a high price level and will remain there, especially if you consider that the permanent settlement area is only 12.45 per cent. whereby only 4 per cent is designated as housing space (current planning scheme balance of the Statistik Austria, Austrian territory 2014). If you relate the percentage of 12.45 of intensively useable areas in the mountainous region of Tyrol to the remaining states, this seems to be very low. In Austria, the average value is considerably higher, at 38.9%. Even the neigh- bouring states of Salzburg (20.95%) and Vorarlberg (21.82%) far exceed the Tyrolean value. Demand for real estate and properties is still high in good to excellent locations and the resulting shortage of supply will prompt a further rise in prices. A change in this trend, which has, as is well known, survived all economic crises unscathed in the past, cannot be envisaged either from our perspective, or that of the Land Transfer Report. It is notable that, in our daily job as real estate advisors in Kitzbuehel,a rise in demand for premium properties in the absolute high price segment has been recognised for quite some time. Eine Verknappung des Angebots und eine hohe Nachfrage bestimmen den Markt A shortage in supply and high demand define t he market Demand for real estate and properties is still high in good to excellent locations and the resulting shortage of supply will prompt a further rise in prices.