The housing and construction offensive has been talked about for a long time, but now the government is getting to work. Chancellor Karl Nehammer (ÖVP) and Vice Chancellor Werner Kogler (Greens) presented their plan on Tuesday. This is intended to create more living space, make housing affordable again and stimulate the construction sector.
Inflation, skyrocketing property prices and increasingly precarious working conditions have led to many people in this country losing their dream of home ownership. Your own four walls are considered the best retirement provision and provide freedom and security in the long term.
Chancellor Nehammer now wants to put a stop to this development and has determined in his Austria plan by 2030 that the ownership percentage must rise again – from 48 to 60 percent. To make real estate affordable again, the government is launching a major offensive in three parts from today.
Realization of new residential units
This requires the creation of 25,000 renovated or new housing units. Of these, 10,000 are intended for future owners and another 10,000 for tenants. 5,000 would be renovated and put back on the market. The federal government wants to invest one billion euros for this, which would lead to investments of five billion euros, according to Nehammer. At the same time, this move would secure around 40,000 jobs in the construction sector.
Two additional fees will be waived
In addition, two important additional costs that mainly affect young families for their first home will no longer apply in the future. The cadastral registration fee and the right of retention for the first 500,000 euros would therefore expire. In total, this means a saving of up to 11,500 euros.
Cheap home loans
The government also wants to give states the opportunity to provide particularly cheap home loans. This therefore provides for a loan interest of up to 1.5 percent with a size of up to 200,000 euros.
Nehammer hopes this brings him a lot closer to the Austrian plan’s goal of having half a million more owners in the country by 2030.
However, further steps are needed to stimulate the construction sector. The government wants to introduce additional measures on Wednesday after the Council of Ministers.
Source: Krone
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