According to a new report, popularity of Vienna is increasing at very fast speed, especially for those people who want to have their second home. There seems to have a rise in the list of second home locations for buyers in Vienna, who want to combine culture with privacy and security.

The analysis report by Knight Frank says that global financial crisis that had passed the housing market in Vienna has caused its rates too high to be payable. It says that housing property in Vienna is not negotiable. It has been reported that setback of Lehman brothers has increased global prices in Austria to about 34.7%. This rate is highest of price growth in whole of Europe.

The collapse of Lehman brothers has also given start to the global credit crisis in Austria. Not only this, there also seems an increase in prices in Vienna, which has also outperformed the national average value. According to the Austrian national bank, this rate has been increased to 55.1% over a same period of time.

Kate Everett-Allen, of Knight Frank's international residential research team, said: "Austria's property market, in terms of its structure and recent performance, is more closely aligned with German speaking neighbors than with its more volatile southern Euro zone partners".