Austria Extends Home Rent Controls to Private Contracts

Austria is extending a limit on home-rental-fee increases to the free market in its latest measure aimed at improving affordability and tempering price pressures.

Tenants won’t be allowed to adjust rents by the full pace of inflation starting next year, with the portion of any readings above 3% halved, according to government steps announced Wednesday. The minimum duration of private contracts will be raised to 5 years from 3.