7 Lakes Series – Living on Lake Wörthersee Part II
Carinthia is paradisiacal – and Austria’s southernmost province owes most of that to Lake Wörthersee. Tourism already began in the monarchy, when Emperor Franz Joseph and Sisi made a stopover here. This attracted the attention of artists and aristocrats to the magnificent region. Over the years, numerous villas and hotels have come to light, inhabited and frequented by various celebrities such as Kirk Douglas, Omar Sharif and Ingrid Bergman.
The High Society from the Wörthersee
Spending your vacation on Lake Wörthersee has always had a special charm. Velden and Pörtschach, in particular, cultivate their reputation for attracting more celebrities than other Austrian resorts during the summer months. Especially in the 1960s and 1970s, reporters and paparazzi always found enough material for their stories here – there were summers when Peter Alexander sunbathed on the shore of his villa, Udo Jürgens performed at Casino Velden, Karl Spiehs produced the TV series “Ein Schloss am Wörthersee” and Gunther Sachs bought the same property.
Especially the southern shore of the “celebrity lake” is now firmly owned by millionaires and billionaires who have their magnificent second and third residences there. Some even with private lake access and their own motorboat.
In the past 20 years, no place has accumulated more wealth than here. The wealthiest Austrians have picked out equally dreamlike properties on the beautiful lake, and some have also come into the enjoyment of a luxury property through inheritance. Today, the total assets of all those residing on the south bank exceed the 50 billion euro mark.
A fact that also increases demand tremendously – even though real estate prices have literally exploded in recent years (for example, a square meter at the Schlosshotel Velden now costs 10,000 euros).
In an interview, Alexander Tischler (ATV Immobilien) tells us what the myth of Lake Wörthersee is all about.
“Lake Wörthersee will always remain the number one domestic lake”.
A property on Lake Wörthersee has always been the ultimate – how did that come about?
The origin of the luxury property on Lake Wörthersee goes back 120 years. In the Art Nouveau period, industrialists bought land for recreation and built magnificent properties. This mix of stately villas and today’s modern architecture, coupled with our sunny climate and a touch of Italian dolce far niente, is what makes Lake Wörthersee so unique.
ATV Immobilien is considered the real estate expert for exclusive properties on Carinthian lakes par excellence – where does this expertise come from?
My father specialized in lake properties in Carinthia as early as 1971. At that time, real estate experienced exorbitant demand, much like today. Living on the water became chic. Previously, many were skeptical about investing in a property near the water.
Keyword exorbitant: On FINDMYHOME.AT/PremiumLiving, we have recorded an increase in demand of over 30% for lakefront properties in the last two years. Is this demand also reflected in the growth in the value of luxury properties?
Yes, definitely. We have experienced growth of 7 to 10% per year on Lake Wörthersee, depending on location.
In the past, when it came to luxury properties on Carinthian lakes, there was always talk of Lake Wörthersee. This has changed massively in recent years – now our ranking of the top 7 lakes for exclusive properties in Austria already lists 3 Carinthian lakes – and Lake Faak as an “Upcoming Place”. Can they underline and explain the ranking?
Absolutely. In recent years, architecturally sophisticated and attractive residential projects have been developed on Lakes Ossiach and Millstatt, and many villas have been revitalized with great attention to detail. A flagship project was “The Lakes” at Lake Ossiach, which I was allowed to market and where another project, “Lakes 2”, will soon be launched. The tight supply at Lake Wörthersee certainly helped with the expansion. However, the customer base has also expanded. Lake Ossiach, Lake Millstatt and Lake Faak are more likely to attract people who want to enjoy the peace and quiet with family and friends and appreciate the special flair of these lakes. On Lake Wörthersee, people like to load up, celebrate and celebrate prestige.
They very often highlight housing projects. Is there a change from villa to residence?
There is, of course, still a high demand for single-family homes and villas on the lake. However, the trend is rising sharply into an investment for residence, especially when it comes to second or third homes. You are among like-minded people, you don’t have to deal with the upkeep and maintenance yourself, and it’s easier to rent out to friends when you’re not using the apartment yourself. Often we also have the requirement of two apartments next to each other, so that the family is together, but each generation has a private retreat.
No one likes to talk about prices in the luxury segment, but I still have to ask them. Ask for an overview.
Lake Wörthersee starts at 25,000 EUR per m2, the other lakes at an average of 15,000 EUR per m2.I always say: At Lake Wörthersee I get an apartment for the same price as I get a villa at Lake Ossiach.
In Kitzbühel, over 90% of buyers come from Germany and are getting younger. Keyword heir generation or successful start-ups. What does the classic buyer look like at the Carinthian lakes?
My most frequent buyers are aged 45 to 55 from Vienna, Lower Austria and Styria. Around one third are international buyers.
Thank you very much for the interview!
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