here for exchange rate details
Information for the weather in Austria is availible here Weather Info Here.
Here for UK medical advice provided by the NHS
residents mainly consist of Germans and some Italians,
with the principle language being German.
Capital gains made by residents are taxed as ordinary income at 34%. Your principal
home will be exempt unless you sell within five years. All property is exempt
after 10 years.
There have been restrictions on Foreign Ownership, with permission to buy property
required from the local authority office, with restriction also on buying holiday
homes in certain areas. Since joining the EU, Austria will be obliged to change
these laws so that they apply equally to Austrian and EU citizens.
Estate Prices in Austria
Varies, for example:
From £50,000 / $75,000 for a studio apartment
From around £60,000 / $87,500 for a small apartment
From £100,000 / $145,000 and up for a larger apartment
Detached homes from £250,000 / $365,000
to buy real estate in Austria
resorts are popular areas for outside buyers. Summer holiday
homes for activity and outdoor pursuits are also well supported
during the summer season. Vienna is rich in culture.
Costs in Austria
cost of living in Austria is higher than most other EU countries.
Austria also enjoys a high standard of living. EU membership
will start to reduce the price of imported goods.
real estate in Austria
deposit of lO% is usual but not necessary in Austria, returned
if the sale falls through. Property sales are usually handled
for both parties by a solicitor/lawyer. The purchase agreement
and the documents can be signed before an official at an
Austrian embassy abroad and translated if required. When
the purchase contracts are signed the funds are deposited
in a trustee (escrow) account until completion takes place.
The owner details will then be registered in the land registry
and can take a few months. The taxes and fees are then paid
by the solicitor/lawyer and the agreed purchase price paid
to the vendor.
Solicitor / Lawyer
Austrian solicitor/lawyer would normally be employed to handle
the sale and buying contracts.
total fees should be around 8-9% of the buying price and
will include property transfer tax of 3.5% and notary fees
around 3-4%. The ownership registration should be 1% with
stamp duty 0.5-1%, the land registry fees averaging a payment
of around £300 / $450.
be between 0.4-0.9% 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.
be arranged from Austrian banks for both residents and non-residents
with variable interest rates and payment terms. Click
here to arrange a mortgage in Austria.
For more information on buying property in Austria, please contact the Real
Estate Agent or visit the Austrian Governments website:
Our guide will not cover all the legal and full financial information for your
Real Estate purchase in Austria but should enable you to get an idea into the
more information on Austria Property and to arrange your viewing
18 Belgrave Mews West
Tel: +44 (0)207 235 3731
Fax: +44 (0)207 344 0292