Advice on buying Austrian Property

You have found a property you wish to purchase in Austria what next?

Austria Property Buyer's Guide explains the legal fees, legal procedures, purchase taxes and mortgage procedure.

Below are some brief points in purchasing property in Austria.

Austria is located in central Europe; Austria joined the European Union in 1995 and entered the European Monetary Union in 1999.

Austria Property Prices Guide
Austria Property Prices vary, for example:
From £50,000 to £79,500 for a studio apartment
From around £70,000 to £93,500 for a 1 to 2 bedroom apartment
From £80,000 to £111,000 and up for a 3 bedroom apartment
Detached Austria homes from £180,000 to £250,000

Where to buy Austrian property
Austria 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.

Fees payable
The standard usually works out at approximately 10% of the sale price;
Property transfer tax of 3.5%
Notary fees around 3-4%.
Property registration around 1%
Stamp duty 0.5-1%
Land registry fees averaging a payment of around £300 to £420.

Austria Property Taxes
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.

Finance
Can be arranged through either international brokers or from an Austrian bank for both residents and non-residents with variable interest rates and payment terms being available.

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These guidelines are meant for guidance only and describe a straightforward purchase scenario. However this information is not meant to replace proper legal advice, which we always insist you take.

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