Thursday, 29. January 2015
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.
First Images Of Eurovision Stage
These are the first images of the design for the Eurovision Song Contest stage unveiled in the Austrian capital Vienna which is the home of last year's winner Conchita Wurst.
Russian Mafia Boss Nabbed At Vienna Railway Station
A Russian mobster wanted for a string of brutal murders was arrested in the gentile Austrian capital Vienna when commandos swooped as he went to buy a train ticket.
Teen Girls Arrested After Offering Themselves To IS Fighters
Austrian officials who recently cracked down on terrorism by arresting several people believed to be recruiting and fundraising for ISIS have revealed two more teenage girls tried to leave the country to marry terrorist fighters.
Ebola's deadly reach impacts Vienna student
Austria has yet to record its first case of Ebola, but the feared virus has already had a severe impact on the lives of Africans living in Vienna.
Grigorij Sokolov Works His Magic At Vienna Konzerthaus
Whilst the world-famous Wizard of Oz played at the Volksoper, there was another Wizard in the Konzerthaus giving his 16th performance in Vienna!
Penelope Cruz To Play The Ice Cream Killer
The memoirs of the woman dubbed the Ice Cream Killer after she shot dead two ex-lovers before hacking the bodies up with a chainsaw and telling neighbours the noise was a new ice cream machine are due to be turned into a blockbuster with Penelope Cruz playing the lead role.
Kid Left In Coma After Beaten By Teacher For Talking
This is the shocking image of a little Chinese girl before and after she was punished by her teacher - for talking in class.
Freezing Rain Causes Chaos In Central Europe
Freezing weather has arrived in Europe with a vengeance with a layer of ice blanketing parts of Austria, Germany and the Czech Republic and causing traffic chaos.
Holey Smoke As Car Disappears Down Sinkhole
Motorist Wei Hsiao found himself in a hole lot of trouble in China when a giant sinkhole opened up on the road beneath him, swallowing his entire car.
Shock Moment Police Helicopter Explodes On Street
This is the moment a police helicopter exploded into a spinning ball of flame in Chile when a fire truck clipped one of its rotors.
The most popular stories –
last 7 days
|Lorry Carrying Fireworks Explodes After Driver Lights Up Fag|
|Chinese Smoker Plunges Eight Floors And Survives Unharmed|
|Wheely Cruel As Dogs Head Partially Severed By Wire|
|Russian Bear Movie Star Risks Becoming Lion Food|
|Man Used Seat As Toilet Outside A Disco|
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.