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
The companies that were linked to the recalled products were Food To Live and Africa Imports.
1 day ago
This is perhaps the biggest incentive shoppers have received this year to become a member.
1 day ago
The tariffs on beef-exporting countries and resources have put pressure on the U.S. supply chain
1 day ago
The deals were struck with four countries, which will exempt certain essential items from tariffs.
1 day ago
They blamed it on the Democrats because they were responsible for the shutdown.
1 day ago
In its analysis, Gartner, Inc found that 25% of IT jobs will be done by AI by 2030.
2 days ago
A recent analysis by UBS suggests the tariffs are holding inflation steady and troubling Americans.
2 days ago
Some fans only want the host to give the clues to the contestants instead of an outsider.
2 days ago
The current price of the item is $16.99, which is several times higher than the $9.99 it used to be.
2 days ago
Fans were clearly not happy after two straight losses in the Bonus Round.
3 days ago
Costco one is sold for a premium price, making it a lot less affordable than the Walmart one.
3 days ago
The retail giant would not want one of its best seasonal products to remain unsold.
3 days ago
This move would severely hurt businesses and consumers will have to pay a lot more.
3 days ago
The contestant was momentarily disappointed, but she was happy to have won more than $17,000.
4 days ago
Those interested can avail the Walmart Plus membership for $49 instead of the usual $98 for a year.
4 days ago
No one saw this coming, but it doesn't mean the product won't return to the shelves again.
4 days ago
Several businesses are offering free meals to current and former military personnel on November 11.
4 days ago
Emmer believed that the President had inherited a broken economy from the previous administration.
5 days ago