The Austrian Federation of Limited-Profit Housing Associations (GBV) functions as compulsory audit organization for its members as well as interest representation body. The Limited-Profit Housing Act determines the performance of the Austrian Limited-Profit Housing Associations irrespective of type of organization.
The oldest housing associations in Austria were founded around the turn of the 19th/20th century. Since then the associations have been responsible for the construction of more than 840.000 dwellings. Today their stock represents about a fifth of the total Austrian housing stock and about 40 percent of multi-family housing. The majority of this stock has been financed with assistance of public funds: as the responsibility for public funding lies at the nine federal provinces the respective local authorities are one of the most important partners for limited-profit housing in Austria.