Read news from:
Austria
SHARE
COPY LINK

MONEY

Going to a Danish music festival? Beware of fake online tickets

Scams involving event tickets are not uncommon during Denmark’s summer music festival season, the country’s digital authority has warned.

Published: 3 June 2024 09:14 CEST
Going to a Danish music festival? Beware of fake online tickets
Ticket scanning at the Roskilde Festival entrance in 2023. Denmark's digital security agency has warned against scams targeting event tickets as the summer festival season begins. Photo: Ida Marie Odgaard/Ritzau Scanpix

Denmark’s Agency for Digital Government (Digitaliseringsstyrelsen) has urged anyone hoping to pick up a festival ticket at short notice to “be critical” when purchasing passes online.

In a press release, the agency outlined what it calls “simple advice” to help consumers avoid losing money on shady festival tickets.

The NorthSide festival in Aarhus kickstarts Denmark’s summer festival season on 6th-8th June, followed shortly afterwards by the Heartland festival at Egeskov on the island of Funen, both from June 13th to June 14th.

For lovers of hard rock and metal the Copenhell festival from June 19th to June 22nd is not to be missed.

Then, for the weekend of June 27th-29th, the festivities move back across the Great Belt Bridge for the Tinderbox Festival in Odense on Funen.

The month of music then culminates with Denmark’s oldest and largest music festival, Roskilde, between June 29th and July 6th, although arguably all the biggest days are in July. 

Several of these festivals have already sold out of either one-day tickets or “partout” tickets that provide passes to the entire event.

READ ALSO:

That means tickets are now being sought on social media and other resale platforms, the digital agency writes.

“We’ve collected some good pieces of advice that will help members of the public to spot ticket sharks and prevent a good summer with friends and music from becoming a disappointing summer when scammers make off with your money and good mood,” Agency for Digital Government deputy director Lars Bønløkke Lé said in the statement.

“Scammers don’t go on holiday and festival ticket sales are also an opportunity they try to capitalise on,” he said.

Four specific actions can greatly reduce the risk of getting scammed according to the agency.

These are:

  • Purchase tickets from official vendors only. Use their waiting lists if the tickets are sold out.
  • Be cautious about any offers you receive if you request a particular ticket in a social media post or ad, as these can attract scams.
  • A ticket set at a price far cheaper than can be found anywhere else is a sign of a possible scam.
  • If using Danish payment app MobilePay, you can check that the seller’s name appears on the payee MobilePay account before confirming your payment. You can then check that this name matches the name of the person or organisation from which you have agreed to buy the ticket. A discrepancy should raise a red flag. Similarly, if the seller unexpectedly asks you to send the money to an account other than their own, they are likely to be attempting a scam.

Member comments

Log in here to leave a comment.
Become a Member to leave a comment.
For members

PROPERTY

Why buying property in Austria remains unaffordable for most

Buying a home in Austria is a dream for many international residents, but it remains out of reach for the average earner.

Published: 7 May 2024 12:30 CEST
Why buying property in Austria remains unaffordable for most

Many people living in Austria dream of one day owning a home, but despite recent drops in property prices and interest rates, this dream is still out of reach for many average earners. 

In Austria, it is recommended to not spend more than 40 percent of a monthly income on debt repayment.

But new analysis by tariff comparison portal durchblicker.at reveals that even a double-income household would need to spend around 60 percent of their income to afford a 90m² new-build apartment in Vienna.

While the government has created initiatives to improve the affordability, with attractive housing packages, fee reductions and eliminations of certain fees, such as the “Grundbucheintragsgebühr” (land register entry fee) and “Pfandrechtseintragungsgebühr” (mortgage registration fee) for properties up to a certain value, their impact has been limited.

Furthermore, the governments initiatives often overlook the specific needs of lower-income households and may benefit those who are already financially stable, leaving the average earner still struggling to afford a home, according to Der Standard.

READ ALSO: ‘Haushaltsversicherung’ – How does Austria’s home insurance work?

High prices, rates and strict lending criteria

One of the biggest barriers to owning a home in Austria is simply the sky-high property prices. Over the years, property prices have increased, making it more difficult for people with an average income to afford a place of their own. Even with recent minor dips in prices, they still remain high.

Another factor making owning a home challenging is the increase in interest rates in recent years. As a result, both existing variable-rate loans and newly obtained fixed-rate loans have become more expensive. Analysts expect the European Central Bank to cut interest rates by around 0.5 percent in the near future, but according to durchblicker’s calculations, this would initially only create a little relief for loan takers, where instead of around 60 percent, 55 percent of monthly household net income would be needed for debt repayment.

Another issue preventing many from realising their dream to buy a home is the difficulty in obtaining a mortgage. Since July 2022, stricter rules have applied in Austria for the granting of property loans. Loan applicants must have a deposit worth at least 20 percent of the value of their property to be granted a loan, according to the financial online platform Finanz.at. This means that even applicants with higher incomes may struggle to get their dream financed. 

Furthermore, many loan takers with variable-rate loans, especially those recently obtained, are facing significant challenges. The variable interest rates have increased significantly since the initiation of these loans, resulting in higher monthly repayments, reported Der Standard.

Few people can afford their own home in Austria, especially in Vienna. Photo by Christian Lendl on Unsplash

Experts suggests fixed rate loans and cooperative housing models

Andreas Ederer, Head of Banking at durchblicker.at, recommends loan takers with variable-rate loans to change to fixed-rate loans. He suggests that fixed-rate loans have become more attractive as they are currently cheaper than variable-rate loans, reported Kurier. 

Unlike fixed-rate loans, which have a steady interest rate throughout the loan term, variable-rate loans can change over time in response to shifts in market conditions or the economy.

Experts also suggest alternative models for increasing affordability. One idea is to create more opportunities for cooperative ownership with mandatory purchase options. This could offer a more affordable option where costs such as maintenance and taxes are shared. According to Der Standard, cooperatives also often have access to loans with better terms.

READ NEXT: How can I move into affordable cooperative housing in Vienna?

SHOW COMMENTS