The increase in property prices stopped in Austria

The rapid growth of the Austrian real estate prices stopped, and experts say that prices will not increase in the next year, according to the online source FriedlNews.com citing data from the Central Bank. In the past year, prices for the whole of Austria rose by 12%, in Vienna - 16%, and reached a peak. Real estate in the country is becoming less affordable for the middle class population. The apartments cost more than 250 000 euros is too expensive for the majority of Austrians. Experts also expect the 2014 increase in rental rates at 2%. The greatest demand is for apartments with monthly rents in the amount of 6-7 euros per square meter. m. In the segment of small apartments, where the price is 700 euros per month, demand exceeds supply. In 1976 Austrians spent 11.7% of their income on housing, for 37 years, spending increased by almost half. However, housing costs are still lower in Austria than in most EU countries. On average, Europeans spend on housing 24% of their income. HomesOverseas.ru