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19 strong forecasts for real estate in Austria in 2025

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Authored by the expert who managed and guided the team behind the Austria Property Pack

buying property foreigner Austria

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What will happen in Austria’s real estate market? Will prices rise or fall? Is Vienna still a prime location for international investors? How is Austria’s government shaping real estate policies and taxes in 2025?

We’re frequently asked these questions because we’re deeply engaged in this market. Through our collaborations with real estate agents, property developers, and clients purchasing properties in Austria, we’ve gathered firsthand insights.

That’s why we crafted this article: to deliver clear answers, insightful analysis, and a comprehensive perspective on market predictions and forecasts.

Our aim is straightforward: to ensure you feel informed and confident about the market without needing to look elsewhere. If you think we missed the mark or could do better, we’d love to hear your thoughts. Feel free to message us with your feedback or comments, and we’ll work hard to improve this content for you.

How this content was created 🔎📝

At Investropa, we study the Austrian real estate market every day. Our team doesn't just analyze data from a distance—we're actively engaging with local realtors, investors, and property managers in cities like Vienna, Salzburg, and Innsbruck. This hands-on approach allows us to gain a deep understanding of the market from the inside out.

When working on this content, we started by gathering insights from these conversations and our own observations. But we didn’t stop there. To make sure our predictions are reliable, we also dug into trusted sources like OeNB, the European Commission, and Statistics Austria (among many others).

We are committed to accuracy and authority. Any forecast lacking strong backing from reliable data or expert opinions was set aside. For the forecasts that pass our initial screening (meaning, we consider there is enough solid data to consider them credible), we take things a step further by incorporating insights from trusted real estate blogs, industry publications, and expert analyses. This additional information helps us gain a clearer perspective without compromising reliability. Naturally, we also draw on our own experience and knowledge.

Trustworthiness is key to us. Clear citations are provided throughout this article, allowing you to see exactly where our information comes from. To ensure our explanations are easy to read and engaging, we used an AI-powered writing tool—but only for this specific purpose.

To make the data even more accessible, our design team created custom infographics that highlight key trends and comparisons. We hope you find them helpful.

Finally, every illustration, screenshot, and other non-text media was produced in-house and added manually.

If you think we could have done anything better, please let us know. You can always send a message. We answer in less than 24 hours.

1) Residential property prices in Austria will stabilize due to government policies limiting speculative investments

Austria's residential property prices have been on a noticeable decline recently, with a 2.35% drop in the last quarter of 2023.

This decline isn't just a fluke; it's been happening for three consecutive quarters. The real kicker is when you factor in inflation, the drop was a hefty 7.38% last year. This isn't just about numbers; it's about a shift in the market landscape.

Why is this happening? Well, the Austrian government has been busy implementing policies to cool down speculative investments. The Austrian Financial Market Stability Board, for instance, has rolled out the Sectoral Systemic Risk Buffer. This means banks now need to hold more capital against risky real estate, making speculative investments less appealing.

But it's not just about regulations. There's a noticeable shift in how investors are thinking. They're leaning more towards long-term ownership rather than chasing quick profits. This change is partly because financing costs are up, and new lending is down, reflecting broader market conditions.

These factors are nudging the market towards more stable investments. It's not just about buying and selling anymore; it's about holding onto properties for the long haul. This shift is creating a more balanced and less volatile market environment.

Sources: Global Property Guide, OeNB, Luxury Vienna

2) Salzburg's rental yields will increase because of strong tourism and limited housing supply

Salzburg's rental yields are on the rise thanks to its booming tourism and limited housing options.

In 2023, Salzburg welcomed a staggering 14.4 million overnight stays, a 4.3% jump from previous years. This shows just how popular the city is with travelers, which naturally boosts the demand for rental properties.

Short-term rentals are hot in Salzburg, with a typical listing booked for 285 nights a year and enjoying a median occupancy rate of 78%. This constant demand from tourists is pushing rental prices and yields higher.

Salzburg's geography and regulations make it tough to build new homes, keeping the housing supply tight. This limited supply, paired with steady demand, is likely to drive property prices up. Government reports point to ongoing housing shortages in urban areas like Salzburg, expected to last into 2025.

These shortages are a key factor in the rising property prices and rental yields. The city's charm and limited housing options make it a prime spot for property investment.

With its strong tourism industry and housing constraints, Salzburg is a promising market for those looking to invest in rental properties.

Sources: Tourism Review, Airbtics, Global Property Guide

infographics rental yields citiesAustria

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Austria versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.

3) Austria’s real estate market will lose foreign buyers as other European markets become more attractive

Austria's real estate market is seeing fewer foreign buyers these days.

One big reason is that property prices in other European countries are rising, making them more attractive to investors. While Austria's prices, especially in the high-end market, are dropping, other places are seeing increases, which is drawing more interest from abroad. This shift is making Austria less of a hotspot for international buyers.

Taxes and regulations in Austria are also a turn-off. There are no special incentives for foreign buyers, and the annual property taxes can be quite a burden. Plus, foreign nationals often need special permits to buy property, which adds another layer of hassle. These bureaucratic hurdles make Austria less appealing compared to other markets where buying is more straightforward.

Austria's economic situation isn't helping either. The country is in a recession, with real GDP expected to decline in 2024 and 2025. This kind of economic instability can scare off foreign investors, who usually prefer more stable environments. Meanwhile, some Eastern European countries are experiencing economic growth, which could lure investors away from Austria.

In contrast, other European markets are becoming more attractive. For instance, Eastern European countries are seeing economic growth, which is appealing to foreign investors. This growth, combined with rising property prices, makes these countries more enticing than Austria, where the economic outlook is less rosy.

Overall, the combination of rising property prices elsewhere, Austria's economic challenges, and the lack of incentives for foreign buyers is making Austria less attractive in the eyes of international investors.

Sources: UNECE, Multilaw, European Commission, Global Property Guide, Oesterreich.gv.at

4) Property values in Graz will rise as it becomes popular with young professionals

Graz is quickly becoming a hotspot for young professionals, driving up property values in its urban neighborhoods.

One big reason for this is the rising employment opportunities in sectors like mobility, biotech, life sciences, energy, and green tech. These industries have been expanding since 2023, drawing in a skilled workforce eager to settle in the city. Graz is not just about traditional jobs; it's buzzing with startups and tech companies. The city offers a vibrant community with plenty of coworking spaces and incubator programs, making it a magnet for innovation.

Government incentives play a crucial role here, providing startups with valuable connections, data, and expert advice. This support creates a fertile ground for business growth, making Graz an attractive destination for young professionals. The entrepreneurial spirit is palpable, and it's not just about the tech scene; it's about a community that thrives on new ideas and collaboration.

Transportation is another big plus. Thanks to the European Investment Bank, Graz's improved transportation links and infrastructure developments have made public transport more reliable and efficient. This makes commuting easier and more appealing for those living and working in the city. It's not just about getting from point A to B; it's about a lifestyle that supports work-life balance.

Education is also a key factor. The city sees a growing enrollment in universities and educational institutions, ensuring a steady influx of world-class talent. This continuous flow of educated individuals further boosts the city's appeal, making it a hub for young, ambitious professionals.

With all these elements in play, Graz is not just a place to live; it's a place to thrive. The combination of job opportunities, a supportive startup ecosystem, and excellent transport and education facilities makes it a prime location for young professionals looking to make their mark.

Sources: Startup Guide Graz, European Investment Bank Project, Investment Apartment Market Report

Our team found this video detailing Graz as Austria's second-largest city with increasing appeal for professionals and affordable housing compared to Vienna.

5) Austria’s rental prices will rise moderately as inflation drives up living costs

Austria's rental market is feeling the heat as inflation nudges up the cost of living.

In 2024, Austria's inflation rate hit 1.9%, and this uptick is pushing landlords to raise rents. For instance, in 2023, the average rent was around 9.4 euros per square meter, with Salzburg leading the pack at 11.3 euros per square meter. This pattern of rising rents is likely to persist as inflation continues its climb.

As the consumer price index (CPI) in Austria rises, so do costs for essentials like health, education, and services such as dining out. These increased expenses often trickle down to tenants, as landlords adjust rents to cover their own rising costs.

Real estate reports show that the average gross rental yield in Austria was 3.57% in early 2024. This indicates that landlords are tweaking rental prices to manage the growing expenses of property upkeep, which are being driven by inflation.

For those considering buying property in Austria, it's crucial to understand how these economic shifts might affect rental income and property values. The rental market is adapting to these changes, and potential buyers should be aware of how inflation could impact their investment.

Sources: Statista, Trading Economics, Global Property Guide

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6) Stricter regulations will affect foreign buyers' investment strategies in Austria

Foreign buyers in Austria will soon face tougher rules when trying to purchase property.

Austria's property market, especially in Vienna, has become a hot spot for foreign investors due to rising property prices. This surge in interest has sparked concerns about whether locals can still afford homes, as foreign buyers dominate high-end residential areas.

The Austrian government is keen on regulating foreign property ownership, citing reasons like national security and public policy. They now require foreign buyers to get prior authorization before purchasing residential and agricultural land. If a purchase is seen as conflicting with national interests, the government can refuse the acquisition.

Looking at Europe, countries like Denmark and Hungary have already set stricter rules for non-EU buyers. This suggests that Austria might adopt similar measures to manage foreign property ownership effectively.

Public opinion in Austria leans towards limiting foreign ownership to protect local housing markets. This sentiment is part of a wider European trend where countries are taking steps to ensure locals aren't priced out of their own markets.

Sources: Library of Congress, Arab MLS, Global Property Guide

7) Eco-friendly home development in Austria will grow due to new tax incentives for sustainable building practices

In 2023, the Austrian government introduced a 15% investment allowance for green investments, making eco-friendly residential projects more appealing.

Developers are now more inclined to invest in sustainable properties because this allowance reduces the initial cost burden of adopting climate-friendly technologies like heat pumps and biomass boilers. This financial boost is part of Austria's broader strategy to promote sustainable building practices.

The UFI funding program has been a game-changer for sustainable construction in Austria. Back in 2021, it provided approximately 274 million Euros for projects that significantly cut energy use and CO2 emissions. This shows the government's strong backing for green initiatives, which is expected to keep growing.

Austria's real estate market is buzzing with developers who are increasingly focusing on sustainable properties. This shift is fueled by innovative technologies and streamlined permitting processes, making it easier to build eco-friendly homes.

The government's eco-social tax reform is another big push in this direction. It includes incentives like the eco-premium for residential buildings, which further encourages the development of green homes.

With these new tax incentives, Austria is set to see a rise in eco-friendly residential properties, as developers are drawn to the financial and environmental benefits of sustainable building practices.

Sources: Forvis Mazars, BMK, Chambers Practice Guides

8) Rental yields in Vienna will rise as more international students and professionals move in

Vienna is becoming a hotspot for international students and professionals, which is set to boost rental yields.

The University of Vienna is seeing a surge in international students, with 10% of its student body hailing from 120 different countries. This influx means more students are looking for places to live, especially near their campus.

But it's not just students flocking to Vienna. The city is also a magnet for multinational companies, attracting expatriate professionals who are drawn to its high quality of life, low crime rate, and excellent social security and healthcare systems.

As more professionals settle in Vienna, the demand for rental housing is on the rise, which is likely to drive up rental yields. Vienna's reputation as a hub for international education and business is growing, hosting numerous international conferences and events.

This not only boosts its global profile but also attracts more international residents. The ongoing demand for rental properties, combined with a limited supply of new housing developments, especially in central Vienna, is expected to push rental prices higher.

With all these factors in play, rental yields in Vienna are poised to increase as the city continues to attract more international students and professionals.

Sources: Shiksha, Relocation.at

statistics infographics real estate market Austria

We have made this infographic to give you a quick and clear snapshot of the property market in Austria. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.

9) Yields in Austria's rural areas will drop as urbanization increases and population density falls

Austria is experiencing a shift in population dynamics, with urban areas growing faster than rural ones.

People are flocking to cities, drawn by better job opportunities and modern amenities. This migration trend is evident as more individuals move to urban centers, leaving rural areas with a slower growth rate.

In 2023, the rural population grew by a mere 0.32%, while urban areas saw a robust increase of 1.4576%. This disparity highlights the allure of city life, especially for younger generations seeking vibrant environments.

Economic factors are a big part of this shift. Cities offer more job growth and infrastructure development, making them attractive places to live. Urban areas boast better transportation, education, and healthcare, which are key considerations for many.

Government reports from 2023 show a positive net-migration balance, indicating that more people are entering Austria than leaving. However, the birth and death balance remains negative, suggesting that urban areas are more appealing for those not planning to start families in rural settings.

Sources: Macrotrends, Trading Economics, Statistik Austria

10) Property prices in Tyrol will fall as climate change affects its winter tourism industry

Climate change is reshaping Tyrol's winter tourism scene, and it's not looking good for property values.

With warmer temperatures, Tyrol is seeing less snowfall and shorter ski seasons. Imagine losing four weeks of skiing in winter and six in spring just because the temperature rises by 1°C. This is a big deal for a region that thrives on its ski resorts.

Fewer tourists are hitting the slopes, and that's a problem. Local businesses are feeling the pinch as fewer visitors mean less revenue. This downturn ripples through Tyrol's economy, making it a less attractive spot for property investment.

Many ski resorts are on shaky ground. If temperatures keep climbing, some resorts might have to shut down or scale back. Without reliable snow, maintaining operations becomes a costly challenge, and that could scare off potential property buyers.

As the natural snow supply dwindles, the demand for holiday homes and rentals could drop. This means property prices might take a hit, making it a buyer's market but a risky investment.

Sources: Climate Adapt, Climate Change Post, The Telegraph

11) Property prices in Salzburg's historic center will rise due to limited supply and high tourist demand

Properties in Salzburg's historic center are set to see a price hike due to limited supply and high tourist interest.

In the coming years, real estate prices in Salzburg are expected to rise by 3% to 7%, driven by high demand and limited supply. This trend is likely to persist as the city remains a hot spot for property investment. The charm of Salzburg, with its picturesque streets and rich history, makes it a magnet for both investors and tourists alike.

One of the main reasons for this limited supply is the strict control over new construction permits. Because Salzburg is a UNESCO World Heritage Site, preservation laws and urban development restrictions are in place to protect its cultural heritage. While this keeps the city's historic charm intact, it also means fewer new properties are available.

Tourism plays a big role in this scenario. With more and more visitors flocking to Salzburg, the demand for properties, especially short-term rentals, is on the rise. The city's tourism industry is expected to bounce back and grow in 2025, further boosting the demand for these rentals. High occupancy rates, with listings booked for 285 nights a year, show just how strong this demand is, pushing property prices even higher.

Investors are keen on Salzburg not just for its beauty but also for its potential returns. The limited supply of properties, combined with the ever-growing tourist interest, creates a perfect storm for price increases. Owning a piece of Salzburg's historic center is not just about having a home; it's about having a valuable asset in a thriving market.

Sources: fwp.at, Airbtics, Engel & Völkers

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12) Urban property prices in Austria will dip slightly as more people choose suburban living

In Austria, urban property prices are expected to dip slightly as more people choose suburban living.

People are increasingly drawn to the suburbs for larger living spaces and access to green areas. This shift became especially noticeable in 2023 and 2024, as many sought homes that could double as personal retreats. The allure of suburban life is growing, with its promise of tranquility and room to breathe.

The rise of remote work has also played a big part in this trend. With more people working from home, the need to live near city centers has decreased. This newfound flexibility allows many to consider moving to the suburbs, where they can enjoy a better quality of life away from the city's hustle and bustle.

Concerns about high population density in cities are another reason people are looking to the suburbs. Many are eager to escape crowded environments, seeking more space and a quieter lifestyle. This desire for less crowded living conditions is pushing more individuals to explore suburban options.

Public transportation improvements have made suburban living even more appealing. In Vienna, for instance, upgrades to the U-Bahn metro system have made commuting from the suburbs to the city center much easier. This means people can enjoy the best of both worlds—spacious suburban living with convenient access to urban amenities.

As these trends continue, it's clear that the appeal of suburban living is reshaping the real estate market in Austria. The combination of remote work, improved transportation, and a desire for more space is driving this shift, making suburban areas increasingly attractive to potential homebuyers.

Sources: Global Property Guide, Luxury Vienna, The City Fix

13) Demand for senior-friendly housing in Austria will grow as the population ages

Austria's population is aging, and this trend is set to continue.

With life expectancy in Austria at around 82 years, people are living longer than in many other countries. This means more Austrians will reach their 80s and beyond, increasing the need for homes that are easy to live in as they age. Many seniors want to stay in their own homes, but they need these homes to be accessible and safe.

By 2070, the number of people aged 65 and older is expected to rise by about 62%. This demographic shift means more people will need housing that suits their needs as they age. The demand for senior-friendly housing is growing, but the supply isn't keeping up.

Every year, Austria needs about 3,100 new assisted living units, but only around 700 are being built. This shortfall highlights the urgent need for more senior-friendly housing options. The government and media are discussing these challenges, emphasizing the importance of creating more age-friendly communities.

In Austria, over 22% of the population was between 50 and 64 years old as of December 2023, and this number is likely to grow. This aging population will drive demand for accessible and senior-friendly housing options.

Sources: EUROSTAT Data, OECD Better Life Index, RegioData Research, 2024 Ageing Report Austria

14) Vienna’s rents will rise as demand exceeds supply in popular neighborhoods

Vienna is set to welcome 310,000 new residents over the next thirty years, making it a hotspot for housing demand.

As a vibrant cultural and economic center, Vienna attracts a diverse crowd, from international students to expatriates, all seeking a place to call home. However, new housing developments are scarce, especially in the city's central neighborhoods, which are highly sought after.

The challenge is compounded by a shortage of housing construction permits in these prime areas, leading to a competitive market where prices are expected to climb. This isn't just speculation; historical data shows a clear pattern.

For instance, in the third quarter of 2023, Austria saw an 8.2% increase in average rent per dwelling compared to the previous year. This trend is particularly evident in Vienna, where the demand continues to outstrip supply.

Real estate experts predict that property prices in Vienna will keep rising as the city struggles to meet the housing needs of its growing population. The limited availability of new homes only adds fuel to the fire.

With such high demand and restricted supply, rents in Vienna's most desirable neighborhoods are bound to increase, making it a challenging yet potentially rewarding market for property buyers.

Sources: Global Property Guide, City of Vienna, Statistics Austria

infographics comparison property prices Austria

We made this infographic to show you how property prices in Austria compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.

15) Rents in Austria's alpine regions will increase as remote workers flock to scenic areas

Austria's remote job market is thriving, especially in technology, finance, and creative industries.

With more people working from home, there's a growing interest in renting homes in scenic areas like the Alps. These picturesque locations offer a perfect blend of work and leisure, making them highly sought after by remote workers.

In 2023, Salzburg stood out with the highest average rent prices at 11.3 euros per square meter. This trend indicates that as more remote workers flock to these beautiful regions, rental prices are likely to keep climbing.

The AlpSatellites project is enhancing digital connectivity in the Alps, making them even more attractive for remote work. This initiative is expected to boost demand for rentals as it improves accessibility and connectivity in these areas.

Media coverage often highlights the allure of the Alpine regions, emphasizing their scenic beauty and excellent work-life balance. This publicity further fuels the desire for remote workers to settle in these areas.

As these regions become more popular, rental prices are expected to rise, driven by the influx of remote workers seeking a serene work environment.

Sources: Statista, Alpine Space, Jobgether

In this video, Zell Am See is highlighted as a holiday destination, showcasing how tourism and scenic value drive rental demand in alpine regions.

16) Demand for one- and two-bedroom apartments in Austria will rise as households become smaller

Austria is experiencing a demographic shift towards smaller households, boosting demand for one- and two-bedroom apartments.

In December 2023, the number of single-person households in Austria hit a record high, with 17.40% of the population living alone. This trend reflects a growing preference for individual living arrangements.

Divorce rates have also climbed, with a 5.2% increase in 2023 compared to the previous year. Notably, nearly half of these divorces involved marriages that lasted less than a decade, pushing more people into smaller homes.

The aging population is another factor, as more elderly Austrians are choosing to live independently. While specific numbers aren't available, it's common knowledge that aging populations often lead to more single-person households.

For potential property buyers, this means a rising demand for compact living spaces, especially in urban areas where space is at a premium. Investing in one- or two-bedroom apartments could be a smart move.

Understanding these trends can give you an edge in the property market, as smaller households become the norm in Austria.

Sources: Statistik Austria, Trading Economics

17) Interest in single-family homes will drop as younger Austrians prefer urban living

In Austria, younger people are increasingly choosing city life over traditional homes.

Back in 2023, about 59.53% of Austrians were already living in urban areas, and this number is climbing. Cities are becoming more attractive, and younger Austrians are leading this urban shift.

One reason for this trend is the rising cost of single-family homes, which makes urban apartments a more affordable choice. Despite higher property prices in cities, the appeal of urban living outweighs the cost for many young people.

Demographic studies reveal that Vienna's urban population is getting younger, highlighting a growing demand for city housing. This younger crowd is drawn to the vibrant city life, with its public transport, cultural events, and diverse dining options.

Surveys show that younger Austrians value the amenities and lifestyle of urban areas. They appreciate the convenience and variety that city living offers, making it a preferred choice over suburban life.

As urban living becomes more popular, interest in traditional single-family homes is declining among the younger generation. This shift is reshaping the housing market in Austria.

Sources: Statista, XYHT, Social Housing Wien

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18) Demand for smaller, efficient living spaces in Austria will grow as minimalism becomes more popular

The trend towards minimalism is reshaping how people live in Austria.

One major factor is the decrease in average household sizes. In 2023, the average household size in Austria was 2.182 persons, slightly down from 2.188 in 2022. This shift means more people are choosing to live alone or in smaller family units, naturally leading to a demand for smaller living spaces.

The tiny house movement is also gaining traction. Companies like WW Wohnwagon GmbH are leading the charge with their compact and functional tiny houses. These homes are not only affordable, with prices ranging from EUR 100,000 to EUR 200,000, but they also have a long waitlist, showing strong demand. This aligns perfectly with the minimalist lifestyle, which is all about living with less and maximizing smaller spaces.

Media focus on minimalism and efficient living has also played a role. This increased attention, along with the influence of global minimalist lifestyle influencers, has encouraged many Austrians to embrace minimalist lifestyles. This often involves downsizing to smaller living spaces, further driving demand for such homes.

In Austria, the trend towards minimalism is not just about aesthetics; it's a practical response to changing household dynamics and a desire for more efficient living. The popularity of tiny houses and the media's spotlight on minimalism are clear indicators of this shift.

Sources: CEIC Data, iGlobe News, Searcy Homes

19) Demand for affordable housing in Austrian cities will rise as the immigrant population grows

Austria's immigrant population has been growing rapidly, with over 27% of the population having a migration background by 2023.

As more immigrants arrive, they often head to cities, which are seen as places full of opportunities. This urban migration is part of a larger trend, with 59.53% of Austrians living in urban areas by 2023. Cities are bustling with life and promise, drawing in both locals and newcomers alike.

Vienna, the heart of Austria, is feeling the pressure. In 2022, 17% of households in Vienna faced a housing supply gap. This means there's a real need for more homes, especially affordable ones, to keep up with the growing number of people wanting to live there.

Reports from the media and real estate experts keep highlighting the same issue: housing affordability is a big challenge in cities like Vienna. With more people moving in, including many immigrants, the demand for affordable housing is only going up.

Immigrants, including those coming for work or to join family, are a big part of this demand. They often look for places that won't break the bank, adding to the pressure on urban housing markets. The growing immigrant population is a key driver of this increased demand.

As cities continue to grow, the need for affordable housing becomes even more urgent. The influx of new residents, especially immigrants, is reshaping the housing landscape in urban centers. This trend is reshaping the housing market in Austria's cities.

Sources: Schengen News, IMF eLibrary, OECD iLibrary, CEIC Data

While this article provides thoughtful analysis and insights based on credible and carefully selected sources, it is not, and should never be considered, financial advice. We put significant effort into researching, aggregating, and analyzing data to present you with an informed perspective. However, every analysis reflects subjective choices, such as the selection of sources and methodologies, and no single piece can encompass the full complexity of the market. Always conduct your own research, seek professional advice, and make decisions based on your own judgment. Any financial risks or losses remain your responsibility. Finally, please note that we are not affiliated to any of the sources provided. Our analysis remains then 100% impartial.