In 2022, Austrians will spend on average even less on their own home in relation to their income than ten years ago.
First the good news: “Austrians are very, very, very satisfied with their living conditions,” reports Tobias Thomas, head of statistics Austria. Especially when it comes to the cost of owning your own four walls, more and more people are concerned about payment problems and evictions are even on the rise.
This is interesting, because according to data from Statistics Austria, household incomes have increased so much that between 2012 and 2022 the monthly share of housing costs in income – which was still 16 percent last year – actually fell. “Not much will change,” Thomas is convinced, despite the continuing wave of inflation.
To end the cost problem and see more moderate prices again, according to Thomas, much more construction would have to be done. According to him, the much-discussed rent brake would not help, since the increase in rents in the previous year only contributed 0.05 percentage point to inflation. A slower increase would be crucial for individual households, but would hardly change the overall consumer price index.
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.
