The dream of owning a house has become a distant dream for many Austrians recently due to developments in the financial market. High interest rates on loans combined with overpriced real estate prices are extremely discouraging. Krone+ looked at where particularly good bargains can be found, how the housing market is developing and why Vienna is once again the outlier.
Getting married, having children, building a house – the conservative path of the older generations has lost its appeal, and not only because of the current economic situation. But it is precisely because of the high inflation, the recently rising lending rates for private individuals and the persistently high land and apartment prices that young people in particular are having their dream of owning their own home taken away.
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.
