The Austrian government has announced that it will limit rent growth for three years, in order to help citizens with the high cost of living.
"Rents will be able to increase by a maximum of five percent per year," said Vice-Chancellor Werner Kogler, adding that the measure will cover about 75 percent of rental contracts.
Chancellor Karl Nehamer said that the Government's intervention removed the threat of a 15 percent rent increase in certain segments of the market in the next year, reports Blic.
The measure should support efforts to curb the growth of consumer prices, which were seven percent higher in July than in the same month last year.
In June, rents increased by eight percent.
In addition to aid for real estate, the Austrian government also announces increased pressure on energy companies, in order to pass on lower gas and oil prices to end consumers.
They plan to limit the prices of vignettes for highways and "climate tickets" for public transport.
"We will continue to try to help people so that they can cover the cost of living," Nehammer emphasized.
Direct aid measures and tax reliefs for citizens in the period from next year to 2026 will cost the state up to 40 billion euros.
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