Empowering Dreams: ARGE Eigenheim Leads the Charge for Affordable Home Ownership

2024-09-11 10:18:02

A central goal of the ARGE Eigenheim is to promote home ownership. Young people and families in particular need a realistic perspective. In addition to promoting models for renting and buying, an ownership offensive is intended to support the path to ownership or one’s own home. “By 2030, the home ownership rate in Austria is expected to rise from the current 48% to 60% – this corresponds to around 500,000 additional homeowner households for Austrian families. The framework conditions for acquiring property must therefore be improved.”so KommR DI Christian Struber MBA, Federal Chairman of ARGE Eigenheim and Chairman of the Supervisory Board of the Austrian Association of Non-Profit Housing Associations (GBV) to the address of a future Federal Government.

From the perspective of the ARGE Eigenheim, the following measures should help to make home ownership possible again: All fees and taxes for the first home should be abolished, capped at 1 million euros. An interest deduction for housing loans should be created to make it easier to finance the first home. “This is an important step to reduce the financial burden,” says NR Mag. Michaela Steinacker. The establishment of a special loan program should provide low-interest loans for young people and families. In addition, a liability program for subordinated equity replacement loans should be set up.

Future topics: Existing buildings and additional revenue models

The non-profit housing sector guarantees stability in the country’s housing supply. It ensures lower rents and maintains existing properties. “Therefore, the next few years are the ‘years of existing buildings’, in which our commitment will be focused on modernisation and climate protection and no new land should be built on,” said the outgoing Federal Chairman Chrstian Struber and appealed to politicians to be able to manage further investments “that the non-profit housing associations must be given further, additional revenue opportunities, because only with them is there a guarantee that every euro will be reinvested in new housing.”

Study: Non-profit housing construction lowers prices on the free housing market

According to a WIFO study (05/2023), the expansion of non-profit housing construction ensures cheaper rents on the free market and more quality in housing. On average, it can be seen that an increase in the market share of non-profit housing associations by ten percent leads to a reduction in unregulated rents of 30 to 40 cents per square meter. For a 70 square meter apartment, this corresponds to a saving of between 250 and 340 euros per year.

“This price-dampening effect of non-profit housing associations on the for-profit housing segment has less effect due to the decline in subsidies and thus the number of subsidised apartments,” so Mag. Isabella Stickler CSEChairwoman of the non-profit building, housing and settlement cooperative Alpenland St. Pölten.

Cost reduction: 1.2 billion euros in rental benefits per year

The WIFO study shows that non-profit rental apartments offer an average rental advantage of 2.3 euros per square meter compared to comparable private rental apartments, which corresponds to an average monthly saving of 160 euros. The differences are particularly strong in newly constructed buildings (3.0 euros), but even in older apartments from the 60s or 70s the differences are still over 2.0 euros.

120 million euros saved in the GBV sector through affordable condominiums

The positive effect of the GBV sector can also be seen in the area of ​​condominiums. Based on the assumptions made, the estimated ownership benefit from GBV condominiums is around 122 million euros. This is how much households will save in financing costs in 2019 if they have bought their condominium (built between 1980 and today) at a cost-based price from a non-profit housing association instead of from a commercial property developer.

“If one considers the cost-reducing effect on rents and the savings effect in the area of ​​condominiums, the GBV sector has a considerable positive effect on the gross domestic product in Austria,” Isabella Stickler emphasizes the relevance for the economy as a whole.

Sustainable, safe, affordable: The non-profit housing associations have a long-term, viable concept in the real estate sector.

„The real estate industry is currently in a frenzy. Bankruptcies, restructuring proceedings, insolvencies, falsified balance sheets, illegal payments from trust accounts, construction halts, write-downs, investigations by public prosecutors – the real estate boom is over. Real estate prices are not growing immeasurably. Interest rates are still high, and the purchasing mood is curbed“, goes DI Herwig PernsteinerDeputy Federal Chairman of the Austrian Association of Non-Profit Housing Associations (GBV) and member of the Executive Board of ARGE Eigenheim OÖ, is critical of the “black sheep” of the real estate industry. “However, these malpractices always affect commercial property developers. They belong to private individuals, complex companies or foundations. And they act in a non-transparent, dishonest and solely for their own benefit and advantage. Profits are individualized, losses socialized.”Pernsteiner continues, taking this opportunity to recall the cornerstones of the non-profit housing industry. “The non-profit housing associations secure one million apartments in Austria for affordable housing.”

Housing policy in focus of the 29th St. Wolfganger Days

From September 11 to 13, more than 200 representatives of non-profit property developers from all over Austria will meet to find out first-hand about the latest topics in non-profit housing and to discuss them with top-class experts. In view of the upcoming National Council elections, the “29th St. Wolfgang Days” will focus on political demands on a new federal government. On Friday, housing spokespeople will present “5 points for the future” and August Wöginger, chairman of the ÖVP parliamentary group, will give a final talk on the “political challenge of housing”.

Generational change at the top of ARGE Eigenheim

Mag.aIsabella Stickler, CSE, chairwoman of the non-profit building, housing and settlement cooperative Alpenland St. Pölten, is proposed as the successor to federal chairman DI Christian Struber for the top management of ARGE Eigenheim during the St. Wolfganger Days. Isabella Stickler has many years of experience in the non-profit housing industry and has actively campaigned for the advancement of women in ARGE Eigenheim.

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Here ‌are some PAA (People Also Ask) related questions for the title **”Buying Property in Austria: A Guide‍ for⁣ Foreigners and Non-Profit Housing Associations”**:

Buying Property in ‍Austria: A⁣ Guide for Foreigners and‍ Non-Profit Housing Associations

Austria, known for its stunning Alpine landscape and rich cultural heritage, has become a popular destination for foreigners‌ looking to invest in real estate. Meanwhile, the non-profit housing sector in Austria is playing a crucial⁤ role in providing ⁤affordable housing to its citizens. In this article, we ⁤will delve into the world of buying ‍property in Austria,⁣ exploring the regulations,⁣ benefits, and initiatives that make it an attractive option for foreigners and non-profit housing associations alike.

Regulations for Foreigners Buying Property⁣ in Austria

Unlike some⁢ European ‍countries, Austria does not have strict restrictions on‌ foreigners buying property. According to ‍the country’s land transfer laws, non-EU citizens are entitled to acquire real estate in Austria, making it an attractive option for international investors [1[1[1[1[1[1[1[1]. However,​ it’s essential to note that specific ​rules vary from state ​to‍ state, and titles are freehold [3[3[3[3[3[3[3[3].

Benefits of Buying Property in‍ Austria

Austria’s stable economy, high standard of living, and stunning natural beauty make it an attractive destination for property buyers. The country’s non-profit⁤ housing sector, in particular, offers numerous benefits, including:

Lower rents: Non-profit housing associations provide affordable housing options, reducing the financial‌ burden on citizens.

Quality⁣ housing: Non-profit housing developments focus on quality and sustainability, ensuring that residents have access to comfortable and environmentally friendly ​living spaces.

Cost savings: According‍ to a WIFO study, the expansion of non-profit housing construction leads to a reduction in unregulated rents of⁣ 30 to 40 cents per square meter.

Initiatives to Promote Home Ownership

The ARGE Eigenheim, a non-profit organization,‌ aims to ⁣promote home ownership among young people and families in Austria. To achieve ​this goal, the organization proposes several measures,‌ including:

Abolishing fees and taxes for‌ the first home, capped at 1 million euros.

⁢Creating an interest deduction for housing loans to make⁣ it easier to ‌finance the first home.

Establishing a special loan program to provide low-interest loans for young people‍ and families.

*‌ Setting up a liability program for subordinated equity replacement loans.

Non-Profit Housing Associations: A Sustainable Solution

The non-profit housing⁣ sector in Austria is a vital part of the country’s housing ‌market. ⁤These associations provide affordable housing options,‍ ensuring that​ citizens ‌have access to quality living spaces. The GBV sector, in particular, has a significant impact on the economy, with an estimated ownership benefit of 122 ‌million euros in 2019.

Conclusion

Buying property in ‌Austria ​can be a profitable and rewarding experience, especially for foreigners and non-profit housing associations. ⁤With its stable economy, ⁣stunning natural beauty, and affordable‍ housing options, Austria is an attractive destination for those looking

Pitfalls of buying property in Austria

Buying Property in Austria: A Guide for Foreigners and Non-Profit Housing Associations

Austria is a popular destination for foreigners looking to buy property, and the country’s non-profit housing associations play a significant role in providing affordable housing options. In this article, we will explore the process of buying property in Austria, the benefits of non-profit housing associations, and the measures being taken to promote home ownership.

Buying Property in Austria: A Guide for Foreigners

Yes, foreigners are allowed to buy real estate in Austria [[2]]. However, if they don’t have a residence permit in Austria, they need to obtain a permit for buying real estate. According to Austrian law, non-EU citizens, being non-EC member states’ citizens, are entitled to acquire real estate in Austria [[1]].

When buying property in Austria, foreigners should be aware of the following:

* All fees and taxes for the first home should be abolished