Austria: Property Distribution Highly Unequal

Politics ♦ Published: August 5, 2013; 06:22 ♦ (Vindobona)

About 10% of Austria´s population owns 70% of the nation´s wealth. The governing social democrats reaffirm that Austria needs property taxes.

Austria: Property Distribution Highly Unequal / Picture: ©

Johannes Kepler University (Linz) has published a report on the wealth distribution in Austria. According to the report, the net wealth totals € 1,250bn in Austria. This is substantially higher than the estimations of the Austrian National Bank.

69% of the net wealth is held by 10% of the population. The richest percentile, which corresponds to 37,000 households, owns €…