Cost of Living in Austria

Austria is a country that offers such a high standard of living that in 2019, it was even ranked second globally for the highest quality of life. Vienna, on that note, has held the title of the world’s most liveable city for nearly a decade. But due to this great standard of living, the cost of living in Austria is also quite high.

With that said, Austria is a country that doesn’t have a nationwide minimum wage. Normally, the average monthly salary ranges between €1,700 to €2,200, depending on the sector you work in. So, if you’re moving to and intend to live in Austria and earn that much, you should be able to cover all of your living expenses and even have some money saved up on the side for your hobbies and leisure.

Bank accounts

The interesting thing about Austria is that you can have your salary, loans, mortgage, and insurance paid out of or into a non-local bank located in a foreign country from the European Union.

However, if you’re from a country outside of the EU and are planning to live in Austria long-term, it would be wise to open a bank account there. The procedure for this is quite simple. You will need the following documents at hand to present to the bank if you want to open an account with:

• Proof of identity (Passport, ID)
• Proof of residency (Utility bills or Residency Registration Form)
• Proof of employment (Job contract)

That is also doable if you’re looking to apply for a bank account online. However, you will need to verify your bank account via a Postident. Here are the three ways you can verify your identity:

• eID – Sending your personal information along with your scanned ID over the internet
• Photograph – Sending a photograph along with a recorded video clip of your face
• Video chat – You send all of your personal data and then perform a video call with a videoldent call centre agent

Accommodation costs in Austria

Housing costs

Currently, buying a new house in Austria would set you back on average by around €359.000. Austria’s price per square metre depends on whether the property is located in or outside the city’s centre. The average price per square metre for an apartment in a city centre is €5000, while for a property outside of the centre, it’s €3620.

Rent costs

The national average monthly cost for rent in Austria is €390, without the cost of utilities. The lowest average monthly rent in Austria can be found in Carinthia and is €300. While the most expensive average monthly rent in Austria is in Varalber, costing €500. When renting an apartment in Austria, it’s good to bear in mind that the utilities are usually paid for separately.

Check out what are some of the best cities to move to in Austria.

Cost of utility bills

The cost for utilities in Austria is calculated based on the living area of the accommodation rather than on the resources consumed. For example, in Vienna, utility bills range between €2.50–3.50 per m² a month. These utilities include the land tax, waste removal, sewage and water supply charges, insurance of the building and monthly contributions to the home maintenance and repair fund. The electricity price, on the other hand, is 21.67 euro cents per kilowatt-hour.

As for the internet, the prices range between €9 and €83, depending on the supplier and the connection speed. The faster the internet connection, the more it will cost you.

Transportation expenses

Austria has very well-developed public transport services and networks, including coach, bus and railway services. However, the country has a brilliant network of roads for those who prefer to do the driving themselves. Austrian motorways are just a pleasure to drive on. Still, the main way most people get around in the country is via trains.

Cost of necessities

Food costs in Austria

The best way to save money on food in Austria is to make your own meals. If you find regular Austrian supermarkets too expensive, fear not; the country has many discounted ones which offer great deals on staple food products, ready meals and fresh produce.

However, if you can’t be bothered to cook and prefer to eat out, you will need to prepare at least 25-40 € a day for a good breakfast, lunch and dinner at a restaurant or fast food place. Austria is famous for having the highest costs in Europe for eating out.

Sports and leisure

As for sports and leisure, you can expect to pay between €50 – €100 a month depending on your hobbies or, say, how often you go to the gym.

Takeaways

Planning to move to Austria from the UK but have no idea how to do it? Well, providing five-star removals in London, we at Fantastic Removals have your back. Although there isn’t a fixed price for our international removal service, as clients’ relocation needs are unique, we will send you a personalised quote based on the volume of stuff you’re planning to move and on whether you require our help packing your possessions.

Once the service is booked, all of your belongings will be safely and professionally moved from your UK address to your new home in Austria. And best of all, you won’t even need to lift a finger.

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