Property in Austria – Guide to Buying Property in Austria

November 14th, 2022 by admin Leave a reply »

Overview

The Austrian Property Market

In considering an overview of real estate in Austria,Guest Posting the most striking fact associated with real property in that country is the fact that overall the costs associated with real estate in Austria is higher than any other country in Europe. In addition, the cost of living in Austria generally is higher than any other country in Europe at the present time.

With this in mind, it is also important to note that the tax rate in Austria when it comes to the buying and selling of real estate in that country also runs rather high. For example, any capital gains that are experienced on the sale of real estate is taxed in Austria as regular income at the significant rate of 34%. There are exceptions to this taxation. First of all, a piece of real estate that is used as a primary residence is exempt from this tax. Additionally, all real estate that is held for ten yours or more is exempt from this taxation as well. Therefore, many people, including foreign nationals, hold on to investment real estate for at least ten years before turning around and selling the property for a profit.

Historically, Germans have been the primary group of foreign nationals that have taken to purchasing real estate in Austria.

Investment Property in Austria

As will be discussed in greater detail later, foreign nationals have a history of investing in real estate in Austria. In recent years, significant steps have been taken and made to streamline and simplify the manner in which foreign nationals can invest in real estate in Austria. This particular is true when it comes to foreign nationals from the countries that make up the European Union.

A foreign national that is interested in investing in real estate in Austria needs to keep in mind that the cost of real estate in that country is higher than in any other country in Europe. Thus, for the most part, individuals who find themselves investing in real estate in Austria tend to be a bit better heeled and tend to have a higher amount of disposable income.

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