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Decrease in Building Saving May Increase Rents

Professional Services › Real Estate ♦ Published: July 27, 2012; 10:18 ♦ (Vindobona)

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In Austria, the popularity of building saving declined in the first half year of 2012. In a few years, funds for the residential building market may be insufficient.

Decrease in Building Saving May Increase Rents / Picture: © Vindobona.org

After the State contribution for building saving was cut by 50%, the popularity of building saving is declining substantially. In the first half of 2012, the number of new building saving contracts at Erste Group was down by 13.6% to 132,554 contracts. In total, about 900,000 new contracts are expected in Austria this year. As a result, this would mean that the number of new contracts…