Austrian house prices continue to soar!
This content is archived.
Vienna hums with prosperity. There’s a vibrant tourist industry, and the city is beautiful. But none of these factors quite explains what is so strange about Vienna, that over the past eight years while the rest of Europe has seen a property boom and bust, Vienna’s residential property market has just gone up, and up, and up.
The residential property price index in Vienna, the capital, rose by 9.6% (6.9% inflation-adjusted) during the year to end-Q1 2012, more than the year-on-year (y-o-y) price rises during the past three quarters of 6%, 7.9% and 7.8%, respectively, according to Oesterreichische Nationalbank.
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