Vienna's social housing model keeps rents at medieval levels
Finance
While most global cities face skyrocketing housing costs, one European capital keeps living expenses low by treating high-quality apartments as a public right rather than a luxury.
In the heart of Europe, residents of Vienna are largely immune to the rent spikes that plague the rest of the continent. While housing costs in cities like Athens now devour 40 percent of the average wage, the Viennese model keeps that figure closer to 15 percent. This isn't due to luck, but a century-old commitment to social housing that now provides homes for 60 percent of the city's population in high-end, architecturally significant buildings.