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Rent cap decided: cap at 5 percent annually
The government decides on rent caps - a limit of 5% increase per year for 2024-2026. Details on economic policy. 🏡 #Rent price cap #Economic policy #Government parties #Inflation
Rent cap decided: cap at 5 percent annually
Immediately before the special meeting of the National Council on inflation requested by the SPÖ and FPÖ, the governing parties agreed on a package of measures. A rent cap for the years 2024 to 2026 was decided to limit the increase in rents to a maximum of five percent per year. This regulation should primarily apply to guideline and category rents as well as cooperatives.
The agreement on the rent cap represents a surprising step in economic policy. The measure aims to keep rising rents under control in the coming years and to offer tenants a certain degree of financial security. Limiting rent increases is expected to have a positive impact on housing costs for many households.
The decision on the rent cap shows the government parties' desire to respond to the current challenges in the housing market and to take measures to maintain social balance. This regulation is intended to protect the interests of tenants, especially with regard to the cost burden of rent increases.
The exact details regarding the implementation of the rent cap and possible exceptions for certain rental properties still remain to be seen. The measure is expected to be further fleshed out and communicated publicly in the coming weeks in order to give citizens clarity about the future development of rental prices.