Property Prices Continue to Decline in Austria
According to Raiffeisen Research, domestic real estate (both new and used) has become an average of 5 percent cheaper since the third quarter of 2022.
Austria Increases Financial Help for Flood Victims
The compensation rate for flood victims will increase from 20% to at least 50%, with up to 80% in hardship cases.
Basic Grocery Prices in Austria Nearly Double Since 2021
According to the AK Price Monitor, penne pasta and flour are among the products that have seen the steepest rises, around 90%, while tea butter and sunflower oil have increased by approximately 64%.
Insurers Anticipate Claims Up to €700 Million Following Storms
In a worst-case scenario, the total could exceed €1 billion, insurers warned, with efforts now focused on ensuring a swift claims process.
Austria to Receive €500m from EU for Storm and Flood Relief
With Austria’s own disaster fund standing at €1 billion, the EU contribution brings the total available for aid to €1.5 billion.
Study: Austrian Households Buying More Food
Austrian households increased fresh food purchases by over 3% in the first half of 2024 compared to the previous year.
Austrian National Bank Predicts Extended Recession
According to OeNB economists, the downward revision is due to a weaker historical GDP trend and the decline in the second quarter of 2024.
Every Second Person in Austria Buys Secondhand
Sustainability and Saving Books, movies, and clothing are particularly popular secondhand purchases. Additionally, toys and furniture are also favored secondhand items.
Austrian Rents Up 80% Since 2010
Half of the Austrian population is worried about affording housing in the future, with 62% of those under 30 expressing particular concern.
Austria’s Heavy Industry Faces Longest Demand Crisis in 20 Years
The report noted that while the previous crisis, in the early 2000s, lasted longer, the decline in production at that time was much smaller.