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Buying Guide ~ Buying Property in Austria
Introduction - Purchase & Living
cost - Buying guide
Letting - Other
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Property in Austria is available to all EU citizens, with a straightforward purchasing procedure and a wide range of mortgages available it is easy to see why Austria is rapidly becoming a property "hot spot." The process is generally very straightforward. Why not attend one of our personal viewing trips to find your ideal home and then let Aquavista guide you through every step. Please take the time to read through this information and if you have any questions do not hesitate to give us a call.
To ensure our clients get the possible after sales service, Aquavista has a property maintenance and rental management service in Austria operating in Salzburgerland in the Lungau, Pongau & Pinzgau regions and will shortly introduce the service for Carinthia in the Velden region. This is unique to Aquavista and only available to our clients. Read More
Purchase Tax
3.5% land purchasing tax
Additional purchasing costs
- 1% registration at the land register
- 3.6% commission (incl. 20% Uts tax) this is standard throughout Austria, payable on signing contract.
- Notary for the contract, depending on the price (usually 1%) if the price is lower than €1,000.
- Translator at the notary will cost approximately €400
Other Expenses
The annual property tax in Austria is generally very low, as a guide you can expect to pay around €200 per year for an apartment and approximately €400 per year for a family house with 1000m2 of land.
€250 property insurance (depending on size and location)
An average sized house could expect to use per annum: - Electricity and Water, depending on the usage, €80-150/ month approximately.
Communal Charges (if applicable)
These may vary according to the size and value of the property you purchase. A guideline figure for 2/3-bedroom apartment would be €100 - 120 per month. However this is included in the running costs of the apartment and includes heating water, garbage collection, a janitor, general water, and water.
In all cases included:
- Exterior repair and decoration
- Building insurance
- Garden maintenance
N.B. All the above amounts can only be used as a guideline as actual costs will vary depending on property size and usage. Please note that some costs may be subject to 20% Ust. (The Austrian equivalent of VAT)
Who can buy
All EU Citizens
Tenure of Property
Almost all property in Austria is "Freehold"
Mortage / Financial Advice
Mortgages are available from Austrian banks for both residents and non-residents with variable interest rates and payment terms. The bank will discuss the running period of the mortgage with you; there is no restriction on the length of time you have to make the repayments. Many of the mortgages will be offered with the choice of monthly or quarterly repayments and the option of an early payback.
Our associates work with a number of different Austrian banks and will guide you through the entire process. Maximum percentage on mortgage deals - 70%. This is the same for both private and business purchases. Interest charges - 3.5%.
There is an additional fee to the notary for legal costs if purchasing a property with a mortgage; this will be approximately 1.1%.
Legal Documents
We would always advise that you use a notary to complete your purchase and we can provide the names of several Austrian/English lawyers on request, although each of our Associates has access to lawyers.
Our Associates will prepare a Contract that will detail your property, type, etc together with the price agreed, payment method and any extras or alterations you may require. This Contract Agreement is binding in Austrian Law and will be in both English and German.
The notary will register your name and details into the Registry Book at the local Land Registry Office within 3-4 weeks of signing the contract.
To ensure our clients get the possible after sales service, Aquavista has a property maintenance and rental management service in Austria operating in Salzburgerland in the Lungau, Pongau & Pinzgau regions and will shortly introduce the service for Carinthia in the Velden region. This is unique to Aquavista and only available to our clients. Read More
The high winter season runs from 20th December - 10th January, February and Easter.
The middle season runs from 1st December - 19th December, and March.
The low season runs from the middle of January, and the end of Easter to April.
The high summer season runs from July - August.
As a guide you can expect to rent your property for 90 -120 full days, depending
on the area and marketing activity.
The local tourist office will be happy to help you promote your property.
Prices / Apartment per day €(approx) |
Winter |
|
Main and low season |
High season |
|
Apartment/ 2 Persons |
65 |
88 |
Apartment/ 4 Persons |
95 |
113 |
Apartment/ 4 Persons |
124 |
142 |
Apartment/ 6 Persons |
140 |
157 |
Additional bed |
14 |
15 |
Double bed room / Person per day |
29 |
31 |
Breakfast per Person and day |
7 |
|
Final cleaning: 30 to 33 |
||
Current Austrian legislation states that in order to buy property in the Tirol region purchasers must be a permanent resident. However it is possible to buy a property for rental purposes in certain areas of the Tirol, please see the individual property details for more information.
Work Permits
Possible for every EU citizen
Medical Insurance
If you are in employment you will be covered by the company insurance over the public social insurance Sozialversicherung. If you are unemployed you will need to find private insurance.
Tax regulations
Any earnings from property lettings in Austria are subject to tax in Austria. For international tax issues and double taxation relief and for information on your UK tax liabilities visit www.inlandrevenue.gov.uk