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A Background on the Austrian Housing Sector

 

Population

 

Austria has some 8.39 mill. inhabitants, or rather approx. 3.62 mill. households (2010). The average household has 2.32 members. These households have access to roughly 4.12 mill. dwellings. Current population prognoses forecast a substantial growth in population mainly due to migration. By far the strongest demographic development has Vienna.

 

Economic development

 

In terms of Gross Domestic Product (GDP) per capita (in purchase power standard), Austria is the third wealthiest country in the European Union with 25% over the average of the EU27, following Luxembourg and the Netherlands (in the course of the economic crisis Austria has outperformed Ireland). The nominal GDP per capita has been at € 30.700 in 2010. The real GDP decreased in 2009 by 3.9%, which was one of the lowest downturns of all EU countries. 2010 brought a recovery with +2.1%.

 

Figure: Gross Domestic Product in Austria in comparison (GDP per capita in Purchase Power Standard)

Austria GDP comparison

Source: Eurostat, IIBW