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I noted with interest two related articles. Here housing market profiteers correlate rising costs in Austria with a forthcoming wave of immigrants, in particular "destitute asylum seekers" (Guardian, Jan 2017) from Britain, Africa, and the Greater Middle East. After accepting 90K of these, Austria's re-location exemption expires September 2017
Property prices around 39 percent higher than six years ago
A new house in Austria (123m2) now costs on average 359,000. [...] Bargain prices for older properties can be found in Burgenland, Carinthia and Styria - with average prices for a house between 230,000 and 290,000. [...] Rental prices for new properties have risen steeply, by 21 percent, with average costs now 11,50 per square metre. In Vienna council-owned properties, where rents tend to be cheaper and only rise according to inflation, are in high demand. ..."There are not enough properties available and this problem will increase. Around 300,000 people are expected to move to Vienna over the next few years... and the city has not prepared for this."
The CEO of property management company Buwog, Andreas Holler, told a press conference that not enough homes are being built and urged the city government to devote more time and money to planning new developments. Vienna's population has grown by 150,578 people since 2010 - and just last year it grew by another 43,236 people, largely due to increased immigration and the refugee crisis. [...] The average household in Vienna has just two people.
Can UK's Leaver's be persuaded that a similar opportunity to cash in their equity awaits the arrival of immigrants? Diversity is the key to economic and political evolution.
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