On average for the year, prices rose by almost ten percent, Statistics Austria announced yesterday. The price increases in building construction were the strongest at around 16 percent, while prices in civil engineering rose by one percent.
In building construction, for example, roof sealing work, work on glass facades, sheet metal work or electrical installations drove up prices. Concrete, reinforced concrete and masonry work were decisive in road construction and other civil engineering. Additionally, manholes, covers, road equipment, piping, water supplies, and penstocks became more expensive in road construction.
“Insurmountable Obstacles”
Yesterday, the association of real estate and business trustees once more criticized the strict guidelines for real estate loans. “The experiences following regarding six months show that the number of loans has collapsed by 50 to 70 percent,” said chairman Gerald Gollenz. The chance of acquiring property is significantly reduced. The representation of the real estate agents spoke of “insurmountable hurdles”, for example for young families. As reported, loosening is planned. The decisive meeting of the Financial Market Stability Committee will take place next Monday.
