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Vienna: Number of ‘affordable apartments’ has halved since 2013

Apartment prices continue to rise in the Austrian capital - with cheaper apartments harder and harder to find.

Vienna: Number of ‘affordable apartments’ has halved since 2013
The Karl Marx Hof housing collective in Vienna. Image: JOE KLAMAR / AFP

Over the past seven years, the availability of so-called ‘affordable apartments’ has halved in Vienna. 

A study completed by willhaben.at and IMMOunited – reported in the Kroner Zeitung – shows that just 15 percent of apartments in Vienna were determined to be on the cheaper end of the scale, compared to 37 percent in 2013. 

The researchers deemed ‘150,000 euros or less’ as ‘cheap’ for the purposes of the study. 

The percentage of ‘expensive’ apartments – those above 500,000 euros – has increased over the same time period. 

In total, 13 percent of apartments were above 500,000 euros in 2000. This is up from 11 percent in 2019 and eight percent in 2013. 

Condo-Wien-ium

Vienna is Austria’s major condominium market, with 68 percent of the country’s total. 

The rise in average costs is shown by the total amount spent on apartments in Vienna compared with 2013. 

So far in 2020, 3.1 billion euros has been spent in the Vienna property market, despite the coronavirus downturn. 

In 2019, 5.4 billion euros were spent on 19,500 apartment transactions. 

This compares with 4.7 billion euros during all of 2013 – despite there being 10,000 more sales contracts that year. 

 

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Reader question: I’ve received my Austrian Klimabonus as a voucher, now what?

Austria's federal government is sending out €500 payments directly to the bank accounts of millions of people, but many have been getting vouchers. Here's what to do with them.

Reader question: I've received my Austrian Klimabonus as a voucher, now what?

With rising inflation, mainly due to the increasing energy costs, people in Austria have seen their salaries purchasing less and less. Because of that, the federal government announced a €6 billion package with assistance, tax cuts and one-off payments.

The main (and somewhat controversial) payment is the so-called “climate bonus and anti-inflation payment”, better known as Klimabonus in Austria. Residents of the country will receive €500 to help cushion the effects of climbing prices. Minors are entitled to half that amount.

The only criterium is that the recipient must have lived in Austria for at least 181 days in 2022 to be eligible for the payment. It doesn’t matter your nationality or employment status – if you have spent six months legally in 2022 in the country, you will get the money.

READ ALSO: When will Austria make the €500 anti-inflation payment and how do I get it?

Money vs voucher

The main difference between recipients is that some will receive the money automatically in their bank accounts and others will get a mailed voucher.

If your bank data is up to date with Austria’s financial institution FinanzAMT on their FinanzOnline portal, you should receive the payment straight to your account. If not, they will mail you the Klimabonus voucher via a secure letter – meaning you need to be at home to sign for it.

READ ALSO: How could Austria’s new electricity price brake benefit you?

There is also an option to have someone else sign the letter for you via a power of attorney form. You can read more about it here.

Once the voucher arrives and you sign for it, you need to redeem it. After that, it’s possible to use them in hundreds of locations, including supermarkets, bookshops and bookshops to thousands of stores.

READ ALSO: EXPLAINED: How Austria’s new finance measures could benefit you

You can check the nearest location that will accept your vouchers here.

Additionally, you can trade your vouchers (they come as ten €50 vouchers) for cash on the official Bank99, which is the bank owned by the Austrian Post and that can be found in hundreds of the Postal Service’s branches.

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