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Here in Austria there's two markets:

1. New buildings that aren't rent controlled, can rent for $1-3k monthly.

2. Alt buildings that are rent controlled and compete with public housing, renting for $400-$700 monthly.

Old/alt buildings sell for at least half the price of new buildings. Around 60% of Vienna's residents live in public housing. I don't think things that work here would ever work in other parts of the world.

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Vienna housing is unique even in Austria. Other cities, like Graz for example, don't have as much public or rent controlled housing so you're mostly dependent on the free market unless you're highly economically vulnerable and get help from the sate.

But even in Vienna, if you move there now you'll have to rent off the private market.

Yes but simply stating rent prices gives no context for whether it is expensive or not. Average net income in Austria is probably less than 2000 usd.

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