{"id":286,"date":"2023-10-05T11:29:48","date_gmt":"2023-10-05T11:29:48","guid":{"rendered":"https:\/\/lawyersaustria.com\/?p=286"},"modified":"2024-01-21T09:02:20","modified_gmt":"2024-01-21T09:02:20","slug":"purchasing-a-property-in-austria","status":"publish","type":"post","link":"https:\/\/lawyersaustria.com\/purchasing-a-property-in-austria\/","title":{"rendered":"Purchasing a Property in Austria"},"content":{"rendered":"\n

Local and foreign citizens who want to buy a house in Austria<\/strong> can benefit from the support provided by one of our Austrian lawyers<\/strong><\/a>. The procedures and the formalities implicated can be entirely managed by our specialists. In this article, you can find information about buying a property in Austria <\/strong>helped by our experts who can also represent you with a power of attorney if you cannot be present during the process.<\/p>\n\n\n\n\n\t\n\t\t\n\t\t\t\n\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\t\t\t\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n\t\t\t\t Quick Facts<\/th>\n\t\t\t\n\t\t\t\t <\/th>\n\t\t<\/tr>\n\t<\/thead>\n\t
\n\t\t\t\t Who can buy properties in Austria?<\/td>\n\t\t\t\n\t\t\t\tBoth EU and non-EU citizens, except in the cases where restrictions are imposed in specific regions of Austria. <\/td>\n\t\t<\/tr>\n\t\t
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\n\t\t\t\t\t Types of real estate you can purchase in Austria  <\/p>\n\t\t\t<\/td>\n\t\t\t

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\n\t\t\t\t\t– houses,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– villas,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– land plots,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– office spaces as long as these aren't state-owned<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

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\n\t\t\t\t\t Legislation regarding the purchase of properties in Austria  <\/p>\n\t\t\t<\/td>\n\t\t\t

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\n\t\t\t\t\t Real Estate Law in Austria<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Conditions to buy a house in Austria <\/td>\n\t\t\t\n\t\t\t\t Proof of residence in Austria<\/td>\n\t\t<\/tr>\n\t\t
\n\t\t\t\tBuying a house in Austria for residency <\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tNot allowed <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Content of sale-purchase contract<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\t– property history and description,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– name of the buyer and seller,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– price,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– taxes,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– type of payment, etc. <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\tReal estate diligence<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\t Recommended<\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Real estate transfer tax rate in Austria<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\t3,5% which must be paid by the buyers <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Real estate tax in Austria (YES\/NO)<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tNO <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Registration duty<\/td>\n\t\t\t\n\t\t\t\tMust be paid to the Austrian Land Register <\/td>\n\t\t<\/tr>\n\t\t
\n\t\t\t\t Mortgages available in Austria<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tFixed-rate mortgages with finance up to 70% of the value of the property <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Who pays the real estate agent's fee in Austria?<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tBoth seller and buyer <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Representation with a power of attorney<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tWe represent customers when buying a property in Austria. <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Do I need to travel to Austria to buy a property?<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\tNO <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n\t\t

\n\t\t\t\t Reasons to choose our Austrian property lawyers<\/td>\n\t\t\t\n\t\t\t\t

\n\t\t\t\t\t– experience in property transfers,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– representation with a power of attorney,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– legal advice before a property is purchased,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– professionalism,<\/p>\n\t\t\t\t

\n\t\t\t\t\t– affordable costs <\/p>\n\t\t\t<\/td>\n\t\t<\/tr>\n

Notary fees <\/td>\nBetween 1% and 3% rate, calculated on the property price <\/td>\n<\/tr>\n
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VAT <\/p>\n<\/td>\n

Imposed only for new-built properties in Austria <\/td>\n<\/tr>\n
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Real estate agent fees (approx.) <\/p>\n<\/td>\n

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No more than 4%, plus 20% VAT <\/p>\n<\/td>\n<\/tr>\n

Property registration fee  <\/td>\n1.1% <\/td>\n<\/tr>\n
Mortgage length in Austria <\/td>\n\n

No more than 30 years, with the  possibility to make payments earlier <\/p>\n<\/td>\n<\/tr>\n

Non-EU citizens and property purchase in Austria  <\/td>\n  \n

Extra documents are solicited by the bank if a property is bought through a mortgage. <\/p>\n<\/td>\n<\/tr>\n

Property price negotiation <\/td>\n\n

In most cases, the real estate agent can negotiate the property price on behalf of customers interested.<\/p>\n<\/td>\n<\/tr>\n

Sustainable properties in Austria <\/td>\n\n

Green real estate property projects available in Austria <\/p>\n<\/td>\n<\/tr>\n

Online viewing before buying a house in Austria (YES\/NO) <\/td>\n\n

YES <\/p>\n<\/td>\n<\/tr>\n

Initial deposit <\/td>\n Around 10% of the total price of the property<\/td>\n<\/tr>\n
Valuation survey <\/td>\n\n

Can be solicited by the mortgage provider in Austria <\/p>\n<\/td>\n<\/tr>\n

Closing the deal <\/td>\n\n

Right after the sale-purchase contract is signed in front of the notary and the price is paid <\/p>\n<\/td>\n<\/tr>\n

Extra requirements <\/td>\n\n

The new owner must go to the Austrian Land Registry and pay a specific fee for property registration. <\/p>\n<\/td>\n<\/tr>\n

House insurance in Austria  <\/td>\n\n

Recommended <\/p>\n<\/td>\n<\/tr>\n

Extra legal support <\/td>\nWe can act on behalf of foreigners who do not need to travel to Austria to buy a property. <\/td>\n<\/tr>\n\t<\/tbody>\n<\/table>\n\n\n\n
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