A rental cap may take effect from 2024 in Austria

The coalition government has offered a 3-year cap on rent effective 2024.
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PUBLISHED 07.09.2023
The coalition government, comprising the Austrian’s People's Party (ÖVP) and the Greens, has offered a 3-year cap on rent to become effective in 2024. The move is considered to be a way to help tenants overcome the current sizable inflation. The rental cap applies to housing constructed before 1953, alongside subsidised and social accounts.

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According to the plan, for the next 3 years (2024-2026), any rent increases are to be restricted to 5% per year. Afterwards, a one-time raise will be allowed, amounting to the average value of the inflation of the last 3 years. This will prevent extreme rental surges.

Rents will be increased every 2 years until 2025. After that, the change will take place every year.
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Recently, select non-profit residential complexes have witnessed quite high rental increases amidst changes in interest rates. Reportedly, there will be some amendments in the Non-Profit Housing Act (Wohnungsgemeinnützigkeitsgesetz or WGG) to prevent this in the future.
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Evgeny Pilnikov,
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