“From the perspective of the economy, this is an extremely positive sign,” said the Secretary General of the Austrian Economic Chamber, Karlheinz Kopf, welcoming the expiry of the Credit Institutions Real Estate Financing Measures Ordinance (KIM Ordinance). “In recent years, the KIM regulation has posed such a high hurdle to the acquisition of home ownership that new residential construction was on the verge of collapse,” continued Kopf. In addition to the citizens willing to build and buy, the construction industry and the real estate industry, numerous other sectors of the economy suffered from this standstill in new housing construction, for which there can now be a small sigh of relief in the tense economic situation: “Whether furnishing specialist retailers, ancillary construction industries or the banking industry The lull in the housing market was clearly noticeable.”
The expiry of the KIM regulation will now provide an important impetus for the housing market and thus potentially also for the economy in 2025. “It is extremely pleasing that it is becoming easier again to fulfill your dream of owning your own home,” concludes Kopf. (PWK445/SW)
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