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The system of limited-profit housing in Austria: cost-rents, revolving funds, and economic impacts

Author

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  • Gerald KOESSL

    (Austrian Federation of Limited-Profit Housing Associations)

Abstract

Limited-profit housing plays a significant role in Austria’s housing market. Around a quarter of all households live in homes owned or managed by a limited-profit housing association (LPHA). These associations are characterised by a distinct business model, based on the premise of cost-recovery and revolving funds. By deviating both from the logic of for-profit housing and from public housing, LPHAs occupy a distinct ‘Third Sector’ role in Austria’s housing market. This paper describes the key mechanisms and principles of limited-profit housing, including how they are financed, how rents are set, what components are included in price calculations and how they use revolving funds to finance future affordable housing construction. The paper also elaborates the impact of the limited-profit business model on rent levels and draws on a recent study to demonstrate their wider economic impacts.

Suggested Citation

  • Gerald KOESSL, 2022. "The system of limited-profit housing in Austria: cost-rents, revolving funds, and economic impacts," CIRIEC Working Papers 2204, CIRIEC - Université de Liège.
    • Handle: RePEc:crc:wpaper:2204
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    File URL: https://www.ciriec.uliege.be/repec/WP22-04.pdf
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    Cited by:

    1. Martin, Chris & Lawson, Julie & Milligan, Vivienne & Hartley, Chris & Pawson, Hal & Dodson, Jago, 2023. "Towards an Australian Housing and Homelessness Strategy: understanding national approaches in contemporary policy," SocArXiv h5tja, Center for Open Science.

    More about this item

    Keywords

    affordable housing; cost-rent; revolving fund; economic impact; Austria;
    All these keywords.

    JEL classification:

    • P13 - Political Economy and Comparative Economic Systems - - Capitalist Economies - - - Cooperative Enterprises
    • E21 - Macroeconomics and Monetary Economics - - Consumption, Saving, Production, Employment, and Investment - - - Consumption; Saving; Wealth
    • R31 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Real Estate Markets, Spatial Production Analysis, and Firm Location - - - Housing Supply and Markets

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