ECONOMY & WORK
MONEY 101
NEWS
PERSONAL FINANCE
NET WORTH
About Us Contact Us Privacy Policy Terms of Use DMCA Opt-out of personalized ads
© Copyright 2023 Market Realist. Market Realist is a registered trademark. All Rights Reserved. People may receive compensation for some links to products and services on this website. Offers may be subject to change without notice.
MARKETREALIST.COM / ECONOMY & WORK

'World's most livable city' follows an incredible approach to affordable housing that started in 1920s

Citizens can choose from a diverse range of affordable homes with great amenities here
PUBLISHED AUG 27, 2024
Representative Image Source: Vienna, Austria | Unsplash | Jacek Dylag
Representative Image Source: Vienna, Austria | Unsplash | Jacek Dylag

Vienna, the capital of Austria, is known as one of the most beautiful cities on the planet. But that's not the only thing that makes the city the most livable in the world. The city has once again clinched the title of the most liveable city, per the latest report from the Economist Intelligence Unit released in June.

Representative Image Source: Pexels | Vish Pix
Representative Image Source: Pexels | Vish Pix

According to the report, the capital, which had slipped down in the ranking back in 2021 due to the pandemic, is back on top and many are saying that it's because of their one strategic approach -- "affordable housing."

Vienna residents can choose from a diverse range of affordable homes with great amenities because of the government-regulated social housing program, which started in the 1920s when the country was facing a huge housing and economic crisis. 

Representative Image Source: Vienna, Austria | Unsplash | Jacek Dylag
Representative Image Source: Vienna, Austria | Unsplash | Jacek Dylag

Today, these government spaces are home to more than 60% of the Viennese population. The concept of treating housing as one of the basic human needs has driven the government to pour money into building beautiful multi-storey apartments each having separate green spaces and playgrounds. They offer easy access to medical facilities, schools, post offices, and theaters. The idea of government housing is so well thought out and implemented that there is no stigma attached to public housing, as they are very comfortable for people to live in. 

Even when other cities in Europe began to privatize and commodify housing, the country stuck to their approach which has led them to become one of the most livable cities in a world where almost everyone is struggling with rising housing prices



 

Moreover, the country ranks among the top countries on the Global Peace Index, thanks to the safety and security here. The capital sees fewer violent crimes. The risk of theft, vandalism, and racial violence is also low. The city is also known for having advanced surveillance systems, regular police patrols, and emergency buttons in metro stations.

The city is set along the banks of the River Danube and is also known for its lush greenery. In recent years, Vienna has come a long way with decarbonizing and promoting sustainability. As per Wien.com, about a third of the city's energy needs are met by renewable sources, and the country aims to be carbon neutral by 2040. The city has also become a business hub, attracting many companies as well as employees. Workers love it in Vienna for many reasons like five weeks of holiday per year.

Companies like IBM, Capgemini, and Hewlett-Packard have long had offices in the city. Workers also love how easy it is to get around the city. The government transport system, 'Öffis' offers an efficient and budget-friendly way to navigate the city. The baroque architecture, classical culture, Michelin star-rated dining, and museums also contribute to the high quality of life in the city. 



 

"The attitude there is so different than what we have in the United States. We have it ingrained that public things are supposed to be nasty, supposed to be the lowest of the low. But to see what we saw in Vienna, it was like, wow, it is achievable to have government-owned housing, for the people, and beautiful," Julie Cohon, lead housing organizer at Northwest Bronx Community and Clergy Coalition, said, per The Nation.

MORE ON MARKET REALIST
It's always nice to share your success with your loved ones, even when they're not present.
13 hours ago
Carey accidentally gave away a free guess to the player in the 10 chances game, helping her win.
14 hours ago
The child came up with the idea out of his own love for coffee that he wanted to enjoy minus the effects of caffeine.
15 hours ago
The two had a very old and special bond and the emotions were too much for Carey to contain.
16 hours ago
No one wants to be booed when they're on live TV, especially if it is a game show.
1 day ago
It's not every day that you get a rockstar to teach you an iconic guitar riff on "The Price is Right."
1 day ago
The models usually are very supportive towards each other and share a good relationship.
2 days ago
It's almost like there's something wrong with the new host every other day for certain fans.
2 days ago
You don't always get to rock out on a daytime TV game show but when you do, it is epic.
2 days ago
There was a point during which the investors did not believe the entrepreneur had it in him.
4 days ago
The guest thought that it was about 80 to 100 years old and was worth around $1,000.
4 days ago
There was a point where she could have lost her company entirely or a major part of it to a shark.
6 days ago
The host of "The Price is Right" made a lot of people's dreams come true that day.
6 days ago
The host handled it very well and fans also appreciated him for the same in comments.
7 days ago
The "Family Feud" host showcased one of his many talents, leaving the audience in awe.
7 days ago
George Gray has been a beloved member of "The Price is Right" cast for more than a decade now.
7 days ago
The producers made them kiss three times during season six while they tried out different pitches.
7 days ago
Bob Barker also made a brief come back as host years after his retirement from the show.
Mar 5, 2025
'The Price is Right' became the longest-running game show last week when it reached the milestone of 10,000 episodes.
Mar 4, 2025
The item is an integral part of the history of world literature and was quite an intriguing find.
Mar 4, 2025