Friday, 25. July 2014
21. 01. 14. - 15:00
The Austrian central bank has downplayed concerns over whether the real estate bubble in Vienna and the rest of the country could shake financial stability.
However the central bank said on Monday it will be monitoring the situation by creating a new fundamental price indicator.
Residential real estate in Austria increased 39% between 2007 and 2013, the highest increase seen in the Eurozone. Vienna saw particular price hikes with the top-end of the market attracting foreign buyers looking for second homes.
About the risk of a housing bubble in the country, the Austrian central bank said on Monday: "The risk to financial stability from increasing real estate prices is gauged to be low.
Low interest rates from the European Central Bank have been pointed to as one of the reasons for the price increases as it makes mortgages less expensive.
Germany is also experiencing rises in real estate prices but the central bank Bundesbank has also said it doesn't present a risk. "It is very unlikely that this will result in macroeconomic risks or dangers to financial stability," the bank said in October, although highlighting that house price corrections in cases of over evaluation may lead to "perceptible" losses in wealth for some.
Teen Dying Of Cancer Killed At Charity Event After Ride In Porsche Goes Wrong
The family of a sick boy who was offered a trip in a high-performance Porsche because he was dying of cancer is suing the charity after the Porsche he was travelling in crashed head-on into oncoming traffic.
Japanese Pervert Planned Natascha Kampusch Style Kidnap
A Japanese man inspired by Austrian pervert Wolfgang Priklopil kidnapped a 10-year-old girl and kept her in a purpose-built cellar where he planned to train her to become the perfect wife.
German Hiker Yodels For Help After Getting Trapped In Cattle Grid
A portly hiker dressed in traditional Lederhosen was rescued after he yodeled for help after getting stuck for three hours in a cattle grid.
Austrian Wine Grower Sets New Record For Maturing Grapes
An award-winning Austrian winegrower is believed to have set a new record after leaving harvested grapes for an incredible nine months before fermenting them to create an ultra-sweet white and red wine.
Austrian Castle Owner Shocked By Airplane Wheel In Duck Pond
An Austrian castle owner got a shock after discovering this massive aircraft wheel had landed in his duck pond.
Glock Receives Austrian Award At Birthday Party
Austrian gun maker Gaston Glock has celebrated his 85th birthday with a huge ceremony in which the charitable work of himself and his wife Kathrin was honoured with a top Austrian award, and confirmation that this year two streets and a business park are to be named after him.
Sausage Surprise As Giant Wurst Is Pinched
Austrian police are hunting crooks who broke open a market stall and stole a 1.5 metre sausage worth over 2,000 EUR in the picture postcard village of St Michael in the region of Lungau.
Multi Coloured UFOs In Formation Over Austria
Austrian officials say they are baffled to explain a UFO sighting in which dozens of people reported seeing between 50 and 100 objects flying in formation.
Priests Furious After Porn Films Shot In Local Parish Church
A furious Austrian Catholic priest has complained to police after discovering a local woman had apparently been using his church as a studio to make porn films.
Two metre snake sends woman motorist fleeing
An Austrian motorist got a shock after noticing something hanging down from under her car – and realising it was a huge two metre snake that had ended up curled around the engine.
The most popular stories –
last 7 days
|Vintage Luxury Car Prepared For Prince Philip Rusts In Romanian Car Park|
|Michael Schumacher Family In Talks With Micro Chip Docs|
|Glock Receives Austrian Award At Birthday Party|
|Austrian Castle Owner Shocked By Airplane Wheel In Duck Pond|
|Austrian Wine Grower Sets New Record For Maturing Grapes|
Why suffer in silence. Let off steam by letting our readers share your troubles. File your complaints about anything and everything here.
Our ombudsman David Rogers will try and help solve some of the problems from lazy civil servants through to incompetent companies – and at the very least the worst transgressors will end up in our weekly special report.