72 percent of Austrians prefer renovation and refurbishment to new construction; awareness of soil sealing has increased dramatically.

"The scarcity of building land and rising prices for construction resources will continue to make housing affordability a central social issue in the future. Existing residential buildings and already developed land are therefore becoming increasingly important when it comes to creating housing," says Raiffeisen Bausparkassen Managing Director Hans-Christian Vallant.

Raiffeisen Bausparkasse regularly examines how deeply this topic is already on the minds of Austrians in the form of a representative study conducted by the market research institute Sepctra since 2021. This time, 2,203 people between the ages of 18 and 69 were surveyed. The current study, conducted at the end of 2024, shows a stable awareness among Austrians of sustainability in general: 81% rate the topic as very important or important. Despite this high level of awareness, the implementation of sustainable measures in everyday life is declining slightly. While 5.7 active measures were implemented per capita in 2021, this figure has fallen to just 5.3, with the strongest declines being seen in the areas of energy-saving measures in the home and avoiding standby modes for household appliances.

Renovating and renovating instead of building new is the trend

In contrast, 75 percent of respondents stated they were familiar with the term "sustainable building and living." The term is now strongly associated with the use of ecological building materials (54 percent; +37 percentage points compared to 2023), modern heating systems (17 percent; +14 percentage points compared to 2023), and energy-efficient construction (30 percent; +6 percentage points compared to 2023).

Already, 87 percent of respondents say they are aware of the issue of soil sealing. This represents an increase of eight percentage points compared to 2023. Almost half of Austrians spontaneously associate the development of green spaces with the issue of soil sealing. With a massive increase of 30 percentage points compared to 2023, there has been a tremendous surge in awareness. 72 percent of respondents stated they prefer refurbishment and renovation to new construction. This was 3 percentage points more than in 2023 and 5 percentage points more than in 2021.

Financing mix of funding, equity and loans

Forty-four percent of Austrian property owners carried out renovations last year, with self-financing increasing. General modernization measures, in particular, were implemented more frequently (29 percent; +26 percentage points compared to 2023). General modernization and renovation measures recorded a strong increase, rising by 26 percentage points to 29 percent. Half of those renovating used their own funds to finance the renovations. While the self-financing rate increased, subsidies and loans remained at the 2023 levels (50 percent and 17 percent, respectively).

Raiffeisen Bausparkasse is observing an increase in inquiries about purchasing, renovating, and renovating existing properties. "We see great potential in densification and renovation, especially in rural town centers with good transport links. It is important to meet the need for information on sustainable housing in order to further promote this form of housing," explains Vallant. Young people between the ages of 18 and 29 are most likely to report wanting more information on sustainable construction and housing (55 percent compared to an average of 46 percent).