At 101Stats we love real-estate ! When you’re a property owner it adds an extra level of security and freedom to your life, because no matter what happens you know you have a roof over your head. Tracking real-estate is also important from an economic perspective, as it can provide great insights into the financial wellbeing of a nation.
Vienna, Austria, presents a particularly interesting real-estate market. The city is divided into 23 districts, which fan out from the city’s historic centre in a spiral-life fashion. Despite being a relatively small city, with a population of 1.9 million residents, each district has its own unique characteristics, oddities, traditions, and – of course – prices ! Many Vienna natives will argue that their district presents a great opportunity as an investment, while others argue that certain districts are completely over-valued.
We’ve decided to go to ImmoScout24, and find out what the average price per square meter is for apartments in each district, and forward test it. Each day we crawl the classifieds for the last 100 listed properties, and compute the results. We use a little bit of statistical magic to ensure that there are no strange outliers affecting our sample (such as when brokers list their property for 1€ in order to show up first in price-descending sorting). We’ve also excluded all properties price beyond 5 million EUR, and there are a few, which end up majorly skewing results, as it’s the exclusivity that is priced in, and those properties seldom change hands.
Additionally, we can take a look at how the supply of properties for sale changes. In the future we plan on adding Willhaben as an additional source of data.