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Savings book, home loan, savings contract or life insurance. According to an Integral study on behalf of Erste Bank, Austrians continue to rely on classic, tried-and-tested investments despite high inflation and an ever-low interest rate environment. However, the stock continues to grow in popularity.
While the above investment options continue to be very popular, they are GuaranteesWho can score the largest gains in investment – from 28 percent to 35 percent (+ 7 POS). Provision for retirement as an investment remains stable at 27 percent on the 12-month trend, while gold (-1PP) and real estate (-2PP) lose slightly to 17 percent each. Regarding the average investment size, there is a 16 percent decrease compared to the previous year from an average of around 5,800 euros to 4,900 euros. Not every fifth of Austrians is planning any investments in the next 12 months.
Only 40% of Austrians want to protect their money from inflation
While inflation continues to rise in this country, only 2 out of 5 Austrians want to protect their money from it. In the 50+ age group in particular, the number of those who want to face inflation has fallen to 31 percent, while in the 30-49 age group, it has reached 44 percent and in the 14-29 age group up to 55 percent, protection is prioritized for their money. Inflation, which has risen by 3.7 percent in Austria to a 13-year high, not only reduces the purchasing power of assets held, but also reduces pension provisions. As a result of the European Central Bank’s zero interest rate policy and rising prices, Austrians are losing billions in their savings accounts. It is very important to deal extensively with the topic of finance and pensions. “This is a valuable investment in the future,” Gerda Holzinger-Burgstaller says of the current situation.
The loan amount drops to less than 100,000 euros
One in three (33%, +5PP) plans a larger purchase as a financial investment in the next year, such as buying a home or a car. The number of those who want to finance this purchase with their savings also increased by 5 points (to 84 percent). 21 percent of Austrians still want to fund their planned investments with bank loans or community building loans. On the other hand, there is a change in the average loan amount which decreased by 4 per cent from €103,500 to €99,500 compared to the third quarter of the previous year.
Tip: Erste Bank offers comprehensive advice on Investments.
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