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
There has been speculation about the host's future after a disastrous ratings dip this year.
2 hours ago
The entrepreneurs claimed to have invented what would become the future of wireless charging.
6 hours ago
All hope seemed lost for the contestant at one point but she pulled off a miracle.
8 hours ago
Wildwonder boasted of $1.4 million in revenue and had a successful run rate of $2.5 million during the time of the valuation.
1 day ago
Few contestants have ever played this game with this much perfection in the past.
1 day ago
The expert said that the watch's value was $2,600 than what it could have been.
1 day ago
Kevin O'Leary, Daymond John, and Robert Herjavec tried to stop her from making the offer.
1 day ago
She was able to impress viewers with her trivia knowledge but wasn't able to win the game.
1 day ago
All hope seemed lost for the entrepreneurs who had come up with an innovative health product.
2 days ago
Fans compared Jennings' laid-back style with late television host Fred Rogers.
2 days ago
The offer being made to the entrepreneurs by O'Leary also seemed to be a bit unfair.
2 days ago
The guest said that she had received the item from her grandmother who had inherited it.
2 days ago
The "Pawn Stars" were aleft impressed by the only basketball signed by the OGs Jordan, Phil Jackson, and Kobe.
3 days ago
Turns out that Mr. Wonderful was ordained by the state of California to do the job.
3 days ago
Fans did not expect to see a person with such a striking resemblance to the former Vice President.
3 days ago
Rick Harrison wasn't trying to this item for a low price as it was historically significant.
3 days ago
Despite offering $1.5 million, Harrison was unable to make a deal for the historic item.
4 days ago
Kevin O'Leary hailed their salesmanship after coming to a $600,000 valuation.
4 days ago
The star also followed it up with a second shoutout seeking another chance for her on the show.
4 days ago
The clock was a piece of art and its mechanism was as intriguing as it gets.
4 days ago