Workshop in Vienna: Affordable housing as driver for growth and welfare
In many Western European countries, special housing sectors, which combine advantages from market orientation and State backing, play an important role in housing provision of the growing urban population. This particularly benefits to young households and those with limited access to own property. In Austria, the Limited Profit Housing sector has over the past decades produced one million apartments, which represents one quarter of the total housing stock. Those housing associations (LPHA) provide mainly rental apartments to low and moderate income households. Due to the quantity of housing production the sector has contributed to a stable housing cost ratio fairly below EU average. At the same time, the sector has developed to financial stability, which allows it to be a strong and stabilizing partner to the construction industry.