At a working meeting in St. Pölten, Lower Austrian Governor Johanna Mikl-Leitner and State Secretary Claudia Plakolm advocated a package of measures so that young people will also have the opportunity to own real estate in the future.
According to a new youth survey, almost 93 percent of young people in Austria want to fulfill their dream of living in their own home. However, this is currently not realistically possible. The formal financial thresholds are too high and the wave of inflation is hitting young families too hard in particular. With Johanna Mikl-Leitner and Claudia Plakolm, the party’s most powerful ÖVP politician and greatest youth hope is now pushing for easier borrowing.
obstacles are too high
Both want to abolish taxes and fees for the first purchase of real estate, reject real estate taxes and appeal to the Netherlands Authority for the Financial Markets (FMA) to finally relax the regulations. The authority is responsible for the disproportionately high thresholds for borrowing. For example, they provide for a debt repayment rate of up to 40 percent of household income and an equity share of 20 percent of the total purchase cost of a home.
How Lower Austria wanted to help
“As a country, we would have liked to offer our compatriots a five percent liability assumption. But the FMA does not allow that. Apparently the gentlemen there write their regulations in the ivory tower,” criticizes governor Johanna Mikl-Leitner. For the secretary of state, the current arrangement of the FMA is unrealistic and dangerous. “Realistic because no young person has 20 percent on his side and dangerous because it shatters the dream of owning a home and thus reduces the motivation that it pays to perform well,” explains the Secretary of State.
Both also reject SPÖ leader Andreas Babler’s demand for new property taxes: “We clearly reject socialist and Marxist expropriation fantasies!”
Source: Krone
I am Ida Scott, a journalist and content author with a passion for uncovering the truth. I have been writing professionally for Today Times Live since 2020 and specialize in political news. My career began when I was just 17; I had already developed a knack for research and an eye for detail which made me stand out from my peers.
