Salzburg’s horrendous real estate prices are also a reason for many vacancies. Waiter, nurse and saleswoman: Especially in the low-wage sector, it is difficult to bring new staff into the state because of expensive rents.
It’s not just Salzburg residents who don’t own property who suffer from high housing costs. This is shown by a study by the economic research institute WIFO on behalf of the Chamber of Labor. Horrific prices in the real estate industry, which also includes rents, have a double or triple negative impact on the local economy. This starts with the fact that many companies in the state are desperately looking for new employees. They prefer to decide against Salzburg and opt for Upper Austria or Carinthia because the rent eats up less of their salary. Companies, in turn, can rarely afford to cushion housing costs through salary increases. “The level of vacancies in Salzburg has been higher than average for many years,” says study author Michael Klien. “In addition to accommodation and catering, this applies to retail, health and social services. A labor shortage in these sectors fits with the expectation that workers in low-wage sectors in particular have problems meeting Salzburg’s high housing costs. Nurse, waiter and saleswoman: things are getting worse with these jobs. Vacancies are hindering growth. But they and high housing costs also cause difficulties in other areas. “Measured by common indicators such as start-up rates, company fluctuation or the proportion of fast-growing companies, the company dynamics in Salzburg is below average,” adds housing expert Klien.V.Snobe
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