The past 15 years have been marked by enormous price increases in the real estate segment in this country: the purchase of real estate has become significantly more expensive, but rents have also risen noticeably. In Vienna and coveted cities such as Salzburg and Innsbruck, but also in the “flat country”. But the market is turning: “The long-standing ‘real estate party’ is over, due to rising interest rates and increased construction costs, potential customers are now clearly reluctant to buy and rent homes,” says the real estate expert and director of the real estate consultancy Asset UP , Michael Toms, in the krone.tv live conversation with Gerhard Koller.
Many are currently looking to sell rather than buy, and increased interest costs are now an additional burden for loan buyers. Some construction projects are already being postponed and it is not expected that this will change again soon: “Interest rates could rise further. As a result, the restraint remains in force in the medium term.”
In the interview, Toms calculates how much the individual loan terms have already become more expensive. Significant additional costs have already been incurred. The key question of “ownership or rent” will also be answered in the lecture – and insights into many other areas of real estate will be provided. You can see all the details in the video above.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
