Residential property prices Austria/Vienna
Residential property is the largest component of households’ wealth. As the purchase of property is usually, to some extent, debt financed, changes in property prices affect households’ ability to repay loans and, as a result, also have an impact on the banking sector. Furthermore, the construction industry is a major employer, and investment in construction influences economic activity. Residential property is of key importance also from a social perspective. Developments in the real estate market, therefore, have far-reaching implications for the economy as a whole and for financial stability.