Viennese rent explode: housing shortage threatens! Now what kind of tenants?
Viennese rent explode: housing shortage threatens! Now what kind of tenants?
Wien, Österreich - The situation on the housing market in Vienna is increasingly tense. Current reports show that rents are increasing significantly, while the number of newly approved residential buildings is falling. In 2022, only 1,521 building permits were granted, which was reduced to 1,288 in 2023 and dramatically to only 1,045 last year. These figures mark the lowest number of permits in the past ten years and have a high level of challenging the challenges in front of which tenants and builders are facing. vienna.at reports that the development of rental prices continues to complicate.
The average rental price in Vienna is now around 10 euros per square meter, including operating costs. In the municipal building, rents have increased from 6.3 euros per square meter in the past ten years. In cooperative apartments, too, the price has increased from 6.5 euros to 8.8 euros per square meter. In other tenancy, rents have risen from 8.4 euros to EUR 12.2.
Rental price development and trends
A striking aspect is that almost 20% of the rental contracts in Vienna are limited to three years. Tenants with contracts that last shorter than two years pay an average of 13.2 euros per square meter. In the case of contracts between two and five years, the price is 12.3 euros, while renting with a term of five to ten years costs an average of EUR 10.5. The differences between temporary and unlimited rental contracts are absolutely worth mentioning: the latter cost an average of 9.2 euros per square meter, while temporary rental contracts even cost 14.1 euros.
While rental prices move further up, the hope that increasingly will be built in the next few years. In the last legislative period, 5,700 new rental apartments were created and 22,000 cooperative apartments are planned. Nevertheless, the question remains whether these developments will be sufficient to counteract the impending shortage of housing.
market analysis and outlook
Additional information about the price development and comparative figures can be called up via Immopreise.at . This platform offers comprehensive insights into rental price development and comparison options in Vienna and all of Austria.
But despite these plans, the uncertainty remains. The significant decline in permits and rising rental prices make it clear that the challenge of ensuring sufficient and affordable living space is more pressing than ever. The coming years will have to show whether the desired measures are sufficient to stabilize the situation on the Viennese housing market or whether the residents will slip into a deeper housing shortage. ORF Vienna also underlines that the need for action is enormous to meet the needs of the tenant
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| Ort | Wien, Österreich |
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