Austrian Rents Up 80% Since 2010

Austrian Rents Up 80% Since 2010

Erich Fenninger, Director of Volkshilfe Austria and Tanja Wehsely, Managing Director of Volkshilfe Vienna. Photo: Alexei Korolyov

 

Private rents in Austria have jumped by 80% since 2010, causing widespread worry about future housing availability, according to the charity Volkshilfe.

“The challenge here is that even those with standard incomes are not fully shielded from such increases,” Tanja Wehsely, head of the organisation’s Vienna branch, told journalists at a press conference on Wednesday. The increase in rents only concerns privately owned housing, not social housing.

“If we cannot manage to maintain reasonable rents, regulate debts effectively, create or find better jobs, and address our issues, then housing security is at risk.”

On Tuesday, the Austrian Tenants’ Association (die Mietervereinigung Österreich) called for a substantial reduction in rents, arguing that housing costs should not consume more than 25% of income.

To tackle the rising rents, the association proposed abolishing indexation that adjusts rents for inflation, removing time limits on rental contracts (Befristung), and eliminating land speculation by landlords.

At the same Wednesday press conference, Volkshilfe Director Erich Fenninger revealed that a recent survey conducted by the organisation found that approximately 50% of people in Austria are worried about their ability to afford housing in the future.

“This is dramatic,” Fenninger said, noting that the concern is even more pronounced among those under 30, with 62% expressing anxiety. “It seems that people are increasingly anxious about the future and the risk of being unable to afford housing.”

Echoing the Tenants’ Association, Volkshilfe has called for sweeping housing reforms as well as comprehensive state measures and support.

Alexei Korolyov/The International

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