AUSTRIAN PROPERTY FOR SALE
Austria has so much to offer the holiday or investment property buyer

Our Monthly property news updates

3/1/12

The increase in Sterling gives new interest in Austria property

The slow climb of sterling against the Euro has given new impetus to investing in Austrian property. In the last 6 months there have been 20 sales in our local village!! Most are from the Uk, but many are also from the countries suffering in the debt crisis.

All the signs are that Sterling will stay around the 1.20 euro to the Pound, making it more attractive to buy that small ski or lakeside property in Austria. Prices have by and large remained the static, other than the normal hotspot areas. This interest in Austria property and the sales, have created a lack of property choice. Owners are not sure whether to sell and put the money in the bank or hold onto their property. The concern is that with a lack of property on the market, those properties that do become available will be priced higher. .

1/12/11

Clients still Invest in Austria property

According to the British press..it seems like the whole of Europe is going to collapse. But we still have clients wanting to invest in Austria. They are mainly now from the new member states, such as Hungary, Romania and looking further east...Russian buyers are very keen to bring their money to Austria.

Not being money experts, we cannot really comment on the financial state of things, other than to say, it seems that the whole world has financial problems of one sort or another.  The UK property market is at a standstill, Spain does not look so sunny at the moment, so Austria is still a safe bet for your money. Whether it is in Euros or goes back to the old currency, the property value is still here.

And..mortgages are still cheap in Austria, currently 2.25  - 2.75% there is no Inheritance tax nor capital gains tax..as long as you keep the property for 10 years...so it is certainly worthwhile to consider Austria as a safe property investment.

27/10/11 - November

Invest in Overseas property for income?

Maybe it is the uncertainty of Banks and the money markets, but we have found a new pattern emerging within the property market. Investors are once again looking at 'Buy to Lets' for an income and security for their money.

IN Austria it is taking the same route, with many people considering apartments and houses for long term rental. Also, interestingly they are looking at the commercial property market, particularly small shop outlets and offices. These normally have an existing business insitu and renting, thereby giving instant return on a property investment. At present the return is between 9-12% a very good income indeed! Then there is the tax benefit after 10 years of ownership. When you sell after 10 years there is no capital gains tax to pay on profit, another nice bonus,

01/10/11 - October

Save and Build your own house?

Many Austrians are trying to save on a house build by working on it also with a builder. 'He who will save a lot... must do a lot!!  This is the advice for saving on a build.  Of course not many people want to take on the whole job, but if you sit down and consider where you could help...the savings really start to stack up.

Building a house with about 140 m² of living space and a basement, you can save € 18,000 € on construction costs of say 250,000. At first glance, this sounds like a lot of money. But the work that must be provided for this is not to be underestimated. You can expect approximately 850 hours of work...almost 6 months!

Daunting...but one should not immediately throw in the towel. Some of the work when building a house can make sense. For example, to create the garden. Depending on the size it is taking in all some 30 to 45 hours. Can you create one? a design specialist for the garden, can easily cost 1200-1500 €.

Also painting and wallpapering can be taken on, just as the laying of floors.. For an entire house can be estimated 125-290 hours for painting and wallpapering. A management company would charge up to 5,000 €. The laying of the floor is 40 to 90 hours work. The saving here is  1,000 to 3,500 euros.

Also lay tiles yourself. It takes about 100 hours in an average house for that. And a specialist would do so at almost 2,600 €. And even with the roof extension and cladding, if one is willing to work 100-130 hours, saving up to 4,000 €.

So, it is possible to save! So what are you waiting for?!  

31/08/11

Property shortage in Bischofshofen

More than 600 people are in need of an apartment in Bischofshofen in Pongau, Salzburg. So, is this the next area for possible property investment?

Mayor Jakob Rohrmoser (ÖVP) said: "This is a very dfficult subject and one that worries us quite a bit. We are trying to create apartments accordingly."

Bischofshofen saw a population influx especially in the last ten years. That however came as no big surprise to the mayor who said: "The town is located very centrally with good public transportation connections. Buses to Salzburg that go every half hour add to its attractiveness especially for people working there."

There is a high demand for inexpensive rental apartments in Bischofshofen but the problem is that there is only very little building land for social housing, mayor Rohrmoser added. Still new apartments were being built wherever possible.

"We make every effort we can. In the near future, 60 new apartments will be ready plus ten more for assisted living of which we already have some here."

Mayor Rohrmoser does not expect the list of those looking for a place to live in Bischofshofen to grow shorter in the years to come.

The city of Salzburg is facing a similar situation with rents having recently increased by 12 per cent on average during only one year.

28/07/11

New luxury Hotel projects.

It The Lakes district of Austria are to get new4/ 5 star Hotel complexes. This is being driven by demand for better quality tourism venues,  Ebensee and Wolfgangsee are already under way with new projects. At Stobl amd Wolfgangsee, the now aging Holiday building owned by Salzburg Electric company and used as rest and recreation for their employess has been bought by a Swiss concern and they have plans to spend 20 million Euro on creating a 5 star tourist hotel complex. This will have the effect of increasing demand in the area for renytal proeprties for the Hotel's new employee's.  Cients are already asking about available properties in the area...so we feel prices will start to increase as demand increases.

Couple this with the new talked about project to build a cable car system from the lakeside to the Postalm ski area...and you have a receipe for good investment.

Ebensee's project for it's luxury hotel project is well under way and again coupled with the new cable car system to the Feurerkogel ski area, and once again you have the good possibilities for investment returns on property investment. Ebensee is an area that has a long way to go with prices, unlike the Wolfgangsee lake area that is already higher priced. Both areas are worth a look, for an investment.

New demand for retirement property.

It seems that many overseas buyers are now considering Austria instead of the usual choices Spain, Greece, Malta and Portugal. Obviously the sun shines more often in the Mediterranean, but with all the problems in that area, buyers are now seriously looking nearer to home. For the British buyer, Austria is very safe and with a great Health service. So With the healthy lifestyle of Austria and the 4 fantastic seasons...people ae at last deciding that for them, it is a bit how England was! We shall see if this interest  transpires into purchases over the coming year.  The worry of course, as always with the British, is the language. But with this they have no problem in Austria as around 50% of the population speak English.

The budget level for purchase seems to be similar to the Med, in that buyers are willing to commit up to 500,000 Euro.  Many interested people are also considering the fact that they have the perfect country for ski holidays..so with offspring, fanatical about snowboarding and ski-ing, one can see the obvious benefits...which attract the family of the buyer to visit more often.

23/06/11

New 'Fractional ownership' property.

'Fractional' This seems to be the buzzword this year! It has taken off in the  Mediterranean region of the Holiday home ownership. Now it seems likely that this method of ownership will be of interest for people wanting to have a Ski apartment or Chalet in Austria.  The benefits are obvious, most owners use their home for about 6-8 weeks each year, so to have access to 12 weeks at a quarter of the costs has got to be sensible. So, you share the costs and share the property. Also, from a purchasing point of view the price is technically only 25% for each buyer.There will be purchasing and running costs for the owners to consider and also the legal side of ownership.  In Austria it is not possible for strangers to buy a property together, so we feel it necessitates the setting up of a company, with the owners of the property each having some of the company shares.

In Austria the concept of Fractional Ownership is best with only a few owners....say up to 4 families.  This gives a complete season for each family...and of course they can decide when each is going to use or swop months as it suits their families holidays.  If this method is of interest and you would like more information, please contact us. Our Property Notar will advise as best possible. .

10/06/11

New Apartments in Salzburg becoming more expensive.

Rent There has been a steady increase in the building costs of new apartment developments in Salzburg. Prices are now running from 6,000 a mtr to 10,000 for the most desirable new projects. This is bound to have a knock on effect in the second hand market and already we have noticed that there are fewer bargains to be had in the city. It is now more sensible to try and buy in the outer suburbs.  The distance into the city is stlll only 10-15 minutes travel time, but the price saving is worth it. We have recently negotiated for a client a large 110 mtr apartment at just under 3,000 euro per sq mtr...so you can see there are still possibilities if you are prepared to compromise a little.

In the outskirts, prices are holding with older properties but again with new build it is becoming more expensive...this is to do with the increase in build materials and also a little bit of inflation, but saying that you can still buy an off the shelf design for 250,000 euro.  Tha does not include the land of course!.

5/05/11

Apartments in Innsbruck Austria by far the most expensive.

Rent and condominiums in Tirol are despite the economic crisis the most expensive in Austria.

Innsbruck is positioned at around 3.000, - € / m² living area in the median while buying again in the top position among the country's main cities. The prices rose year on year by 7%. Innsbruck-Land owned apartments cost on average about 2,800, - € / m². Austria's most expensive city in terms of the purchase of residential property is to Kitzbühel with just under 4,000, - € / m².

Rental housing crisis.

With continued high prices, given the rapidly increasing demand for housing in the cities this is to be expected. One in four real estate seekers in Tirol, is currently in the state capital. In the countryside of Innsbruck looking for 22%. The demand for rental apartments rose dramatically due to the crisis in the Tyrol. A phenomenon that is now observed in other provinces of Austria.

39% of property seekers according to the study wanted in the first quarter of 2010 moved into a rented apartment. A year ago there were only 25%. 28% are currently looking for condominiums in Tirol - Houses are against the big losers in demand and fall on the former number one. Only 21% want a house in the Tyrol in the property while it was a year ago, another 35%.

Innsbruck is the most expensive capital in Austria

According to the high demand also reached maximum levels, the rents again. Innsbruck is 10.7 € / m² compared to the Austrian provincial capitals the most expensive. Scarce supply, especially for small apartments exacerbated the situation and let the prices rise year on year by 9%. "Besides the high demand for small apartments, which hits a low offer, it is the quality of rental offers, which pushes up prices," says Ertl. Sun apartments are available for first time 16 € / m² in the offer.

Even when buying a condo in Innsbruck positioned around 3.000, - € / m² living area in the median country's most expensive city. Prices rose by 8% year over year. Even more expensive is the place of Kitzbühel, this much is 3967 square meters of property, - €. Apartments in Innsbruck country stood with an average of € 2,915 / m².

Luxury Homes in Kitzbühel

Who can realize the dream of Tirol house, must in Kitzbühel look deeply in their pocket. € 3,100 / m² houses cost here on average.  In the first quarter of 2010, prices have risen again. "Whoever wants to stay in Kitzbühel is obviously willing to pay the correspondingly high prices in the luxury segment," says Ertl. In Innsbruck were houses with an average of € 2,964 / m² on offer, in Innsbruck-Land homes cost on average € 2,665 / m². The prices remained despite lower demand in the first quarter of 2010 at this level. Land for house construction in Tirol - because most rare - and also very expensive, on average, according to analysis of www.immobilien.net in the Highland and the surrounding area of ​​Innsbruck, not less than 200 € / m² offer.

10/04/11

Baumax upholds EE focus

It seems that the renovation of houses is very popular at the moment....Tools and DIY  chain Baumax continues its expansion into Eastern Europe (EE).

The Klosterneuburg-based firm opened it's latest store in Pleven, northern Bulgaria, last Wednesday. The 12,000-square-metre shop is the firm’s fifth representation in the country.

Baumax is active in nine European countries. Around 10,700 people are employed in its 152 shops of which 67 are located in Austria. It achieved a turnover of 1.5 billion Euros in 2010, up by seven per cent compared to the year before..

With this DIY in mind it could the the time to consider a project with an old house or apartment renovation..

Free tickets to 'Place in Sun' show at Earls Court in March

We shall be exhibiting at Earls court in March for the 'Place in the Sun' show. I know what you are thinking... Austria is a ski destination!! What has this got to do with sun?  This is a normal misconception...and I guess easily made as Austria has some of the best ski-ing in the world...and some of the friendliest people. For free tickets to the Show, click here to print out.

But, if you have only been to Austria for a ski holiday, then you would not have experienced the summer temperatures of over 40 degrees centigrade...with the lake wsater temperatures at over 25 degrees so.... nice for swimming. We get the full four seasons...warm spring time, hot summers, golden leaves falling in the Autumn and of course you already know...white winters! I cannot think of many other countries that has these wonderful seasons.

We have 5 new developments available, 2 at Schladming and 1 at Bad Gastein for ski buffs and 1 at Wolfgangsee for lovers of the lakes and mountains. Prices start at 154,000 euro.  So if you would like to talk to us face to face, about our very sunny summers, please come visit us at stand A72, near the Portuguese display area. Click here to get more info on the show...

Building work costs climb

Construction activities in Austria have become more expensive due to higher material costs, new figures show.
Federal agency Statistik Austria said today (Mon) that expenses for house building activities rose by 3.2 per cent year on year in 2010 and by 19.3 per cent compared to price levels in 2005.

Road construction was 3.9 per cent more expensive in 2010 than it was in 2009, according to Statistik Austria.
Significant iron and steel price increases and more expensive energy and fuel have been identified as the major reasons for the development, while detail figures building companies had to fork out just two per cent more on labour costs in 2010 than in the previous year.

Only last week, Statistik Austria said the Austrian inflation rate would have been at a level of 1.6 per cent instead of the recorded 2.3 per cent in December 2010 compared to the same month of 2009 had there not been a strong surge in prices for mineral oil products such as car fuel.

1/12/10

Luxury homes with high living standard are in demand.

The rental market for exclusive real estate is always in demand, such as attractive apartments and houses, which offer a very special residential level. These rent relatively easily and quickly.

Kitzbuhel in Austria is a mecca of luxury real estate, as the beautiful city in Tyrol, set in a fantastic winter sports area, is the playground of the rich and famous. Those who can afford to buy a house or property in Kitzbuhel, have achieved in life at least one of their major goals.

But of course Luxury homes in a prime locations, and not only in Kitzbühel are also in demand.  Vienna being at the crossroads of Europe is always popular for rentals. Then you have Linz in the industrial heartland and of course the Cultural city of Mozart...Salzburg. So what does all this mean for the property investor? Well the logics seem to be 'Buy a luxury home that you can let'! But this is not always possible unless you have the odd million Euros to play with.

The best possibility is to invest in the best property possible but first of all check what the possible rental income will be.

Long term rental prices can range from 350 Euro for a small apartment to 3,000 Euro for a large family house. The way to maximise is to modernise any property..new decor and furnitureif required, works incredibly well when coming to renting...Austria is not that different to UK when it comes to what tenants are looking for....but do remember that rental contracts in Austria tend to be 3 years minimum. This is good for both sides as it gives security to the tenant and a guarantee of 3 years income for the owner . 

28/10/10

UK buyers leaning towards Guesthouses and Apartment houses

Whether to do with the Spending review in UK or just a change of attitude, many UK buyers are now requesting information for Guesthouses and Apartment houses..deciding that it would be better to have an income a well as a new start in life in Austria.

Many that we speak to, are just not ready to put their feet up in front of the fire and read the newspaper. Clients these days want a challenge, and at whatever age...there seems to be no upper end, as we have clients in retirement looking to have a small business as an interest and maybe meet new friends.

Sterling dips to a new monthly low

Sterling has  dropped back from the heady days of a few months ago...when it was up above the 1.20 mark. Unfortunately, the Chancellor's cost cutting has not gone down well all round and Sterling is now in the 1.13 region.

That said, we now have a market of people wanting to buy overseas to try and get away from the gloom....unfortunately, you cannot run from what is a Europe wide problem. However, whet is good news, is property prices in Austria are still very good value compared to the UK market. You can buy a lake view apartment for under 100,000 Euro. Houses, are even better value and you can still buy a good sized family house for under 250,000 Euro Of course, depending on which areas of Austria, you can get even cheaper.

Sterling still strong against Euro

Sterling has managed to hold it's own against the Euro and this has given buyers confidence to make a purchase.  The signs on the horizon however are not as rosy. A lot of the new Government tax changes will kick in over the next few months and the feelings are that this will affect the value of sterling and also the confident mood of buyers.

Perhaps now is the time to consider making that property offer?

NEC and a 'Place in the Sun' Exhibition 

We though feel quite confident that UK buyers are now finding Austria a good and safe investment for property in Europe. We will be exhibiting at the NEC in October 1-3rd this year for the 'Place in the sun' exhibition....so if you cannot make the trip to Austria to visit us, then please come and see us at stand 78...we will be right beside the main stage! We will be presenting a few new Ski developments as well as a large portfolio of resale property...and for those tempted to make the move to Austria more permanent we have  some good bargains for Houses with letting apartments and Guesthouses!

06/07/10

Drop in Euro value boosts sales

In the past few weeks, the rise in the value of Sterling against the Euro has helped boost the number of property sales this past month. And it looks set to continue as the £ was sitting at 1.20 euro for the past week or more. We feel that with the new confidence in the changes being made by the UK Government this should stay stable.  It means that now is a good time to buy in Austria!

Homes more expensive in Salzburg
Due to high demand in Salzburg-city property prices for both rental and purchase year on year, increased significantly.

In the city of Salzburg prices increased for condos in the first quarter of 2010 compared to 2009 to  € 2,586 / m². Also increased the prices in the Flachgau - since 2008 by 15% to € 2,260 / m² in the first quarter of 2010.

01/06/10

House demand falls in Salzburg

In Salzburg, the dream faded away from home purchase to apartments.

The demand for houses was in Salzburg in early 2009 fell from 25% to 17% in the first quarter of 2010. The demand for apartments, however, increased to 42%!

The demand for condominiums remains stable: at 30%. In the city of Salzburg, they currently cost € 2,586 / m². The rents are on average at 9.7 € / m² and make Salzburg compared to Innsbruck city the second most expensive city in Austria.

Despite the drop in demand, house prices in Salzburg is not under pressure. Salzburg joins with an average of € 2,496 / m² to third place behind Vienna and Tyrol, as regards buying a house.

Construction prices on the rise

06/04/10

Exclusive New development at Gastein Ski.

We have a new small development exclusive to Amazing Austrian Property. This is an exciting re-furbishment of 2 existing apartment buildings in the small Hamlet of Bockstein, only 1500 mtrs from the main ski cable car at Bad Gastein. There will be a choice of 4 x one bedroom garden apartments with 66 mtrs of living space with private garden and 4 x 2 bedroom Balcony apartments with  78 sq mtr living space and large balcony looking out the the ski mountains.

The development being small means that each apartment also have there own large 12+ mtr storage areas The Apartment building has wash and drying room, plus bicycle & ski storage room. Buyers will be able to chose their own kitchen and bathroom styles. Prices for the apartments start at a very reasonable 150,000 Euros. The developers are also offering a 1,000 Euro voucher/cheque to help buyers start furnishing their dream ski apartment.

You can here check out the ski area and all the facilities of Ski Gastein    http://en.skigastein.com

More French nationals are now buying in Austria. Those we have spoken with and have bought property find it such good value compared to France...which is interesting as the UK tends to consider France is cheap for house bargains. Most French buyers are looking athe Lake districts of Austria as their criteria is to have a property that will rent easily for holidays all year round.  The UK market has cooled since the finance crisis and of course the low value of the pound...but ...Perhaps our French neighbours know something that we don't???

A pension just 50 metres from the lake at Obertraun, set up 1973 rebuilt and enlarged 2002, 9 apartments each with balcony and most with great lake views,  each with 2-6 beds, a restaurant with 70 seats....the best bit is the price... 590.000 euro!  If you are looking for a new life or business in Austria, then this could be the perfect opportunity.

There are bargains to be had still in this popular part of the Salzkammergut. WE have just listed a 2 bedroom apartment at St Gilgen for only 98,000 Euro!

It is a few minutes walk to the lake and although there is no direct view until the leaves drop in the Autumn, it is a superb bargain for a 2 bed apartment.

Questions about the purchase of property.

In Austria, purchasing of real estate is subject to the property transaction laws of the respective federal provinces.

this means that different provisions apply in each province for the purchase of real estate. Many provinces require an approval or evaluation process for real estate purchases only in special "reserved communities," while other provinces stipulate a managed official process for every acquisition of title. 

The buyer’s EU country of origin does not matter here: EU citizens can therefore purchase real estate under the same conditions as Austrian citizens.

However: In most provinces, anyone intending to register only a second residence in a community is restricted only to the areas permitted for this. The regional zoning plans regulate what may be used as a vacation residence and what may not. In general: The regulations on second residences are stricter in the western parts of Austria than in the eastern parts.

3 bed ski apartment, only 59k at Ebensee!

6/9/09

2 bed ski apartment, only 109k at Wolfgangsee!

3/08/09

New building plots available at Wolfgangsee

21st July

Large luxury ski  apartment only 147,000 Euro!

20th May

Small ski apartment only 27,000 Euro!