Buying Real Property in Austria

Buying Real Property in Austria

Where to buy Property in Austria?mAustria boasts some of the best ski areas in Europe and as such these areas are popular with foreign buyers, especially as holiday homes. The main areas of population in Austria remain around the Innsbruck, Salzburg and Vienna regions which make up about 70% of the total population.

Property in Austria

Cost of Living in Austria

Austria has always remained high in the table of cost of living like its neighbour Germany. However with its entry into the EU, the price of imported goods is starting to show a reduction in the countrys frontline costs thus reducing the average cost of living.

Solicitor / Lawyer

An Austrian solicitor/lawyer would normally be employed to handle the sale and buying contracts. Most reputable practices have someone who speaks good English.

Fees

The standard % usually works out at approximately 10% of the sale price, this is made up of property transfer tax of 3.5% and notary fees around 3-4%. Property registration around 1% with stamp duty 0.5-1%, the land registry fees averaging a payment of around £300 / £420.

Property Tax

Will be between 0.5-1% of the properties assessed value and should be lower than the market sale value.

Wealth tax of 1% of your net worth irrespective of your resident status is charged for Austrian property owners.

Austria properties

Mortgages

Can be arranged through either international brokers or from an Austrian banks for both residents and non-residents with variable interest rates and payment terms being available. See our Mortgages Link

For more information on buying property in Austria, please contact the Real Estate Agent in question or visit the

Austrian Government website:

For more information on Austria Property visit our Agents Page

Austrian Embassy

18 Belgrave Mews West

London

SWIX 8HU

Tel: +44 (0)207 235 3731

Fax: +44 (0)207 344 0292

Property Prices in Austria Guide

Range Varies, for example:

From £50,000 / £79,500 for a studio apartment

From around £70,000 / £93,500 for a small apartment

From £80,000 /£111,000 and up for a larger apartment

Detached homes from £180,000 / £250,000