2023-05-25 22:00:14
Innsbruck (OTS) – A university analysis makes it clear once once more how far real estate prices have galloped away from income in Tyrol. A devastating testimony to the domestic housing and land policy of the past ten years.
The party is over. That’s what it sounds like when the Tyrolean real estate industry talks regarding the near future. What is meant by this is that apartments and houses can no longer be sold in the blink of an eye and at any imaginable price. At least since the financial crisis more than ten years ago, the real estate industry has been able to pop the corks on a regular basis. And with it all those who nibbled at the lucrative business. New maximum prices every year, whether Corona or not. Zero interest swept away money worries, concrete gold instead of savings account was the motto, even if you didn’t want to live within your own four walls – keyword holiday homes.
But if you are looking for an affordable roof over your head for yourself and your family, you have little to celebrate. In the meantime, we have reached prices per square meter in many parts of Tyrol that are almost impossible to bear, if at all. Also because in Tyrol alarmingly expensive real estate meets alarmingly low incomes. The most recent analysis by the financial institute at the University of Innsbruck shows once once more that housing prices have outpaced wages. From 2015 to 2021 alone, the purchase prices for apartments in Tyrol increased by an average of 45 percent in real terms, houses became more expensive by 75 percent in real terms, while gross income adjusted for inflation grew by just under 10 percent.
State and local politics have let the reins slip for more than a decade. Starting with long development periods and municipal representatives, who allow many things and turn a blind eye to holiday homes, to open barn doors for real estate speculators and the previously failed building land mobilization: 35 million square meters are waiting to be built on in Tyrol. None of this is new, and that’s the sad thing. If in some regions only the non-profit organizations can offer reasonably affordable housing, something has gone wrong in the country.
Even if some actors lament the end of the real estate party: that doesn’t help much for those looking for an apartment. The gap between real estate prices and income is too wide to close once more in the foreseeable future. The housing prices can hardly be caught anymore, they have already galloped too far away.
State politicians are currently brooding over a building land tax to activate the 3,500 hectares of unused building land. Even if the feat is successful, it will take years or even decades for apartments to be built – depending on how high the fee is. You will quickly see how seriously you mean it this time.
Questions & contact:
Tiroler Tageszeitung
0512 5354 5101
editor-in-chief@tt.com
1685070988
#Tiroler #Tageszeitung #editorial #Max #Strozzi #gap #closed
