In a bid to quell rising inflation, Austrian authorities will cap rent increases for most people who do not own a home. Rents are scheduled to rise no more than 5% per year over the next three years for regulated and subsidized housing. The innovation will affect almost three quarters of housing in the country, because Austria has one of the highest proportions of renters in Europe.
The country’s authorities are trying to curb the rising cost of living. In particular, a freeze on highway tolls and the cost of annual train tickets has already been provided. A tax on excess profits of energy companies will also be introduced.