glossary
79
Small print comes in large print. Please find below comments and explanations of some terms used in this report.
Sales prices are full ownership prices per square metre of net floor area, not including service and maintenance costs.
Rents are quoted net, exclusive of taxes and service charges.
All references to persons in this text are intended to refer to all genders.
Definitions
Source data
The term “First occupancy” in relation to prices refers to newly built apartments, or older buildings after complete refurbishment.
Every effort has been made to ensure the accuracy of information in this report. Certain topics are, however, quite complex and subject to constant change. The housing market in Vienna is extremely dynamic and prices vary greatly from area to area. While certain locations are in high demand at the moment, this might change quickly. In our analysis of the housing market, we relied mainly on up-to-date data provided by Statistics Austria, the state statistics office, and information obtained from the City Government of Vienna, unless a different source is named.
“Other” refers to tenancies and sales of second-hand homes.
Prices
In Austria, older buildings (i.e. non-subsidised buildings constructed with planning permis- sion before 1953 and owner-occupied houses built with planning permission prior to 1945) are subject to the full scope of the Austrian Tenancy Act. This means that rents are not subject to normal market forces of supply and demand, but are basically fixed (to what is known as an “adequate rent” or “guideline rent”). Such rents are not taken into account in our report. All prices quoted for the various districts of Vienna refer to square metres of net floor area (i.e. not including loggias, etc.).
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