Trade and crafts welcome the expiry of the KIM regulation, which imposes excessively strict rules for the granting of real estate loans. The Financial Market Stability Board (FMSG) announced the expiry on Monday evening. “This is good news for the construction industry and all downstream areas, which have been in a very difficult economic situation for a very long time,” says Renate Scheichelbauer-Schuster, chairwoman of the federal trade and craft sector in the Austrian Chamber of Commerce (WKÖ). This will provide an impetus from 2025 onwards to overcome the trough, especially in residential construction.
“The end of the KIM regulation fulfills a demand that we have been making for a long time. This eliminates a significant formal obstacle to building and acquiring property, especially for single-family houses and condominiums,” concludes Scheichelbauer-Schuster. (PWK444/HSP)
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