The “Credit Institutions Real Estate Financing Measures Ordinance (KIM-VO)” issued in summer 2022 sets restrictive requirements for the granting of housing loans. The repayment rates for real estate loans to private individuals are limited to a maximum of 40 percent of the available net household income, while the equity share must be at least 20 percent and is limited to a maximum term of 35 years.
The FPÖ has already submitted several unsuccessful applications to the National Council aimed at eliminating such restrictive credit regulations. “The decision to let the KIM regulation expire in June 2025 shows an admission of guilt by the black-green federal government and accurate forecasts by the FPÖ. In view of this, we assume that our application in the budget committee on Monday for the immediate deletion of the KIM regulation will be approved and that this can then be dealt with immediately in the following National Council meeting,” said FPÖ consumer protection spokesman NAbg. Peter Worm.
Instead of minimizing risks when financing real estate, it has been made “practically impossible” for private individuals to finance property due to regulations that are alien to life: “Young families in particular are therefore denied the dream of owning their own home – they are de facto forced to rent, which increases rental prices again that has driven the heights up.”
“It cannot be the case that Austrians are prevented from being able to finance property by the completely excessive award criteria of the KIM regulation. Accordingly, further delaying the repeal until summer 2025 is intolerable for the construction industry, as planning security must be guaranteed at the beginning of the year. We therefore demand an immediate repeal of the KIM regulation in order to ensure access to real estate loans for Austrians and to make housing affordable again,” emphasized Wurm.
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