By Jesse Colombo (This article is frequently updated)
Austria’s housing bubble is a part of the overall Post-2009 Northern & Western European Housing Bubble that has inflated because of the strong investment inflows that these countries have attracted since the Global Financial Crisis due to their perceived economic safe-haven statuses, serving to further inflate these countries’ preexisting property bubbles that had expanded from the mid-1990s until 2008.
Chart Source: GlobalPropertyGuide.com
Austria’s housing prices are up a stout 60% since 2005, a rise completely unabated by the global financial crisis. Negative real interest rates and a relatively-low unemployment rate of 4.9% have encouraged Austrians to close low-yielding checking accounts and park their life savings in local property for rental income and capital gains.  Austria’s obvious property bubble poses serious risks to the country’s banks, which are already teetering on the brink after losing billions of euros in an Eastern European mortgage-lending scheme that has gone terribly awry since 2008. 
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