Vienna: Low Rents, High Property Prices
Municipal housing and older buildings help keep the average rent down to €10.50 per sq m, though prices for new rentals are higher.
Court Rejects Signa’s Restructuring Plan in Historic Collapse
The Vienna Higher Regional Court has upheld an appeal by the Republic of Austria, rejecting the restructuring plan of the collapsed developer Signa in Austria’s largest-ever bankruptcy.
German Tech Giant to Cut Jobs In Austria
These announcements follow the company’s recent weak sales figures attributed to delayed deliveries, prompting a narrowing of its sales forecast.
Tax Inspectors Recover €17.7 Million in First Half of 2024
The investigations primarily targeted telecommunications, real estate, and construction companies and entities operating in the red-light district.
Unemployment Up 10% In July Compared To Last Year
At the end of July, 341,769 individuals were registered as unemployed or in training with the AMS, pushing the national unemployment rate to 6.4%.
Inflation in Austria Below 3% for First Time in Three Years
While inflation has eased in the food sector, “price increases in the gastronomy sector remain disproportionately high,” according to Statistik Austria.
Government Announces Pension Increase For 2025
Pensions in 2025 will rise by the statutory adjustment factor, which is expected to be between 4.5% and 4.7%.
Vienna Banks Reduce Branches by One-Third Amid Digital Shift
The primary driver behind the closures is increased digitalisation, which is challenging for those without mobile phones.
Majority of Austrian Citizens Oppose Inheritance Tax
The survey also indicates that 36% of respondents believe they and their families would be impacted by such a tax.
Record Number of New Start-Ups in Vienna
The chamber reported 5,170 new businesses established in 2024 so far, up 2.5% from last year. Around 9,700 companies could be founded over the entire year.
