On 28 October 2021, the annual Immo TT STammtisch took place for the 5th time. This year, everything revolved around the topic of "cheap land". Together with my colleague Deniz Akgün, I attended the lecture and recorded the most important points for you.
The demand for cheap or "affordable" housing is there - all speakers agree on that. The managing director of the non-profit Neue Heimat Tirol (NHT) and former SP provincial governor emphasises that no package alone will solve the problem of "expensive housing"; instead, cheap land is needed. Due to the currently exploding construction costs and land prices, subsidised housing projects are limited.
According to Alexander Wolf (ZIMA Managing Director), the financial crisis in 2008 triggered "expensive housing". The low interest rates were no longer attractive for investors on the capital market and real estate was bought instead. The current "health crisis" of the last 1.5 years has also contributed to the high property prices.
According to Provincial Councillor Johannes Tratter (VP), there will be no quick solution for expensive housing. However, an introduction of the recreational residence tax could have a positive effect on this and reduce housing prices. During the presentation, Johannes Tratter also emphasised his advocacy of a vacancy survey with the statement: "Vacancy must hurt!". At present, for example in the city of Innsbruck, there are numerous "investor flats", but they are vacant. With a vacancy levy (at least in the amount of the leisure residence levy), this trend could be minimised in the future.
Yours sincerely,
Yours sincerely, Bernhard Großruck
My name is Bernhard Großruck. I work as a real estate agent and appraiser in Innsbruck and would like to give you helpful tips about real estate in this blog.