Your error is in the first three words of your response. I didn't say that real estate is not profitable in Vienna. I've been doing it profitably for decades. I said it "it is straightforward to make real estate speculation unprofitable."

Vienna has made real-estate speculation unprofitable for about 100 years. Real estate is doing fine here, just don't expect to make a fortune in a short time as in say, the US or London. Real estate is a long term investment here.