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Massive Tensions in Vienna´s Residential Property Market
In Austrian capital, rents are increasing unstoppably. Demand is still much bigger than supply.
Austrian Property Market: Tenants Are Under Pressure / Picture: © Vindobona.org
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%,…
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