When it comes to best-practice examples in the housing debate, Vienna is a common reference. Indeed, the Austrian capital features prominently in narratives about successful housing policies. An article in the Observer concluded that Vienna shows “decent homes for all” is not an impossible dream. And the New York Times even declared it “a renters’ utopia”.

A considerable part of the attraction of Vienna relates to its large social-housing stock. It accounts for some 43% of the roughly 1m housing units in the city. About half of it is municipally owned council housing. The other half is provided and administered by limited-profit housing associations – an Austrian version of social housing providers that are permitted to make a small profit to finance their operations. Social housing is not just for those on low incomes, but also caters to middle- and even some upper-middle-class households.

The positive impacts are directly measurable. Rent levels in the social-housing sector are significantly lower than in the private rental market: newly rented units in the limited-profit and council housing sectors cost about 30%........

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