Rental prices in Austria rise rapidly: What does that mean for tenants?

Austria faces an alarming situation on the housing market: Rents climbing a whopping 4.5 percent in 2024, which follows an already dramatic increase of 7.4 percent in the previous year, as kosmo . On average, tenants for a main rental apartment now pay EUR 653.60 per month, including operating costs, which corresponds to a square meter price of 9.8 euros. The operating costs have also increased significantly - from 159 euros to 163.7 euros per apartment. Many tenants in Austria have these developments despair in view of the increasing housing costs.

A key factor for this situation is that a quarter of the Austrian rental apartments are forgiven for a limited period. According to the latest data, it becomes clear that in Austria the rental prices have increased by massive 70.3 percent since 2010, which is three times as high as the average increase in the euro zone. Critics such as Leonard Jüngling from Momentum Institute warn that the government -sought rental price stop only applies to regulated rental conditions and that many landlords can increase their rents undetected. In Germany there is a similar picture where, according to the German Tenants' Association, the operating costs rose by an average of ten percent in the billing year 2023. Haufe reports that the tenants in Germany now have to pay an average of 2.51 euros per square meter for operating costs, whereby heating and warm water costs are particularly affected are.