INVESTING IN AUSTRIA
General conditions for the purchase of real estate
Restrictions on property transactions: the acquisition of real estate in Austria is subject to land transfer laws in the particular region in which the property is. Acquisitions of land used for agriculture and forestry, holiday homes or the purchase of land by EU foreigners is particularly restricted by land transfer laws.
In all Austrian federal provinces, property transactions by foreigners are subject to approval by authorities. EU citizens are almost always treated equally to Austrians. In some areas, permission for the purchase of real estate is only granted if the main residence of the purchaser is established in that region. Land and property in forests can often only be purchased by farmers.
Non-EU citizens can buy property by establishing an EU-based company, the majority of whose owners are EU citizens.
Non-EU citizens can buy property (apartment, detached house) privately if they have a residence permit and can prove their need for housing. Depending on the federal state and the property, this process can take several months and has fees in the region of €1,000.
It is part of our consulting services to advise our clients about these issues and to support them with the help of an experienced lawyer to make a filing with the Land Transfer Commission.
Incidental purchase costs (to be borne by the buyer):
|Real estate transfer tax||3,5%|
|Registration fee for the land register||1,1%|
|Legal fees (depending on complexity)||approx. 2%-3%|
|Notary fees||approx. 1%|
|Real estate agent commission||max. 3% +20% VAT.|