Massive Tensions in Vienna´s Residential Property Market

Lifestyle & TravelPersonal Real Estate ♦ Published: March 31, 2014; 23:00 ♦ (Vindobona)

In Austrian capital, rents are increasing unstoppably. Demand is still much bigger than supply.

Austrian Property Market: Tenants Are Under Pressure / Picture: ©

On average, rents are growing by 4.6% in Vienna this year. In 2014, the price level is anticipated to reach new records.Since 2007, property prices were up by 80% in the Austrian capital. The rapid price increase in the last few years was mainly driven by speculation, the Austrian National Bank (OeNB) said in a recent report. At the moment, residential properties are overvalued by 20%,…