Austrians unimpressed by rising rents

Austrians unimpressed by rising rents

Almost one out of five Austrians consider investing in real estate within the next 12 months, according to an investigation.

Public opinion agency Integral found that 19 % of Austrians planned to spend money on properties in the coming 12 months – 5% more than in the previous quarter.

News that the number of people considering buying real estate is increasing comes as a surprise since purchase prices and rents are on the rise. Real estate information platform «Find My Home» recently spoke with Viennese real estate agents to find that flat rent rates were expected to soar further in 2012 and the years to come.

Experts said that high demand for medium-prized apartments and very few offers in some areas of the capital would intensify the upward price cycle. Other industrial regions of the country will experience similar developments, according to analysts – who also warned that prices would not remain stable in rural regions either.