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. The housing question is a topic of increasing concern in anumber of European cities. Rising housing costs burden many households.Since the outbreak of the global economic crisis in 2008, housing hasincreasingly come under spotlight of investors. Institutional and privateactors invest in real estate not only in metropolitan areas but also inmiddle and small-sized towns. Tourism-induced demand increases the pressureon housing markets particularly in tourist-dominated cities. Themanifestation of these processes varies on a small scale and is influencedby regional-local planning and politics. Based on the example of the city of Salzburg, the article shows that the housing question manifests itselfstrongly aside metropolises as well. Financial investments by private andinstitutional actors in real estate and different forms of tourism demandexacerbate the housing shortage. By linking the discussions about theeffects of (mass-)tourism and financial investments on regional housingmarkets, this paper provides additional insights. The additional demand for(residential) space by tourism is used to increase or secure the return oninvestments in real estate. Financial investments in housing offeradditional (problematic) potential for tourist use, such as short-termrentals. Owners benefit from both processes. Due to the prevalent powerrelations, planning and politics have little to counter the currentchallenges.

Die Wohnungsfrage abseits der Metropolen: Wohnen in Salzburg zwischen touristischer Nachfrage und Finanzanlagen