How to buy properties
Buying property in Austria is not as difficult as you may think
– All fees are regulated by the government so that you know exactly what you have to pay
Who can buy property in Austria ?
Austria is a member of the EEC.
Prior to membership of the EEC there were numerous local council rules that often prevented foreigners from buying property. Whilst these rules no longer apply to European citizens many councils still prefer their approval to be sought by the appropriate “Grundverkehrsbehörde” – part of the local council.
Whilst arguably such approval is no longer required it is best to be courteous and have your Lawyer
Making a formal offer.
Once you find a property that you would like to buy, it is safe to discuss your thoughts with the estate agent. It is usual in Austria that the Agent acts as the negotiator and will often already know if there is room to maneuver on price You will then be asked to make a formal offer in writing. The agent will then prepare an offer
Fees usually amount to 10% on top of the offer being made. This will all be detailed on the “Kostenaufstellung” form which accompanies the offer document.
Currently fees are normally :
– Stamp Duty 3.5%
Fixtures and fittings/furniture can be split from the total purchase price, so that stamp duty etc is only levied on the actual price of the building.
The completion date is agreed between you and it is important that you transfer sufficient funds to complete the purchase, together with the amount needed to cover the purchase costs.
The offer papers are then passed to a Notary who will draw up the sale contract on behalf of both parties.
You will be asked to transfer sufficient funds to cover the purchase and all fees and costs to the
The timescale from finding your property to full registered ownership can be as little as 6 weeks
Properties in Austria are Built to withstand severe weather conditions and stand for generations.