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Austrian Property Market: Housing Still Affordable
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The Austrian real estate market is characterized by the low home ownership rate. In a European comparison, costs are below-average.
Austrian Property Market: Housing Still Affordable / Picture: © Vindobona.org
Rising demand triggered partially by the crisis prompted a robust increase in residential property prices, which peaked last year with average growth in Austria of 12 percent, and in Vienna of nearly 16 percent. The pace of the price hikes slowed in the first half year of 2013, which suggests that general conditions are increasingly returning to normal
On average, 22% of the…
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