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Building Saving: Financing Becomes more Difficult

Published: December 14, 2011; 19:14 · (Vindobona)

In Austria, 45,000 new apartments are needed, causing finance requirements of € 8.8bn. Meeting this demand becomes harder.

Building Saving: Financing Becomes more Difficult / Picture: © Vindobona.org

According to the head of s Bausparkasse of Erste Group, Josef Schmidinger, especially in the agglomerations new apartments are needed. “We urgently need new housing space in cities.” Schmidinger estimates finance requirements to reach € 8.8bn. Per year, 45,000 new apartments are looked after. Due to migration, 20,000 new apartments have to be built per year. Additionally, 5,000…

This article includes a total of 219 words.

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