Amazing Austria

Last news update - 24/11/08 - Property for sale in Austria

Easyjet flights start 13th December.

We are pleased that there is another route to Austria. Easyjet's new service to Salzburg commences on 13th December. They fly from Gatwick, which has all the road connections you should need. You can check out the prices at www.easyjet.com

Last news update - 21/11/08
Advent starts today.

We have just started our Advent celebrations today 21st November. Today all the Christmas markets around the lake are opening and later we are promised snow...which will give it the magical feeling that is Austria! It has been much work and I do not think visitors realize the amount bof effort that goes into creating the markets for advent.

But, it is always worthwhile in the end...particularly the aroma of Glu-Wein and roasted chestnuts wafting in the streets. Our own village of St Gilgen always installs an Ice rink, much to the joy of the local children and visitors. And each village around the lake has it's own theme. But it is best to visit for yourself and enjoy all that is Advent in Austria.

news update - 27/10/08 -

Property for sale in Austria
The Funny side - Clients buying in Austria.

We have had some very funny incidents with clients and felt we should share some with you. The most recent was when one of our clients felt that buying in Austria was all a scam! !

The client had come to view quite a few properties in different regions of Austria, for which we had made all the viewing appointments. The client asked about banks and mortgages, so we managed to arrange an appointment with our local bank manager. We did this at short notice the morning the client was returning to UK. So all was well...and, a very happy client, we thought?

Ah...but we had not thought our good service would cause a problem!! When we later spoke with the client, she said she had delayed any purchase decision because...this part she was embarrassed to say...She had thought that everything had went to smoothly that it could only be a set up to get her to part with her money!!! Particularly, when she met the local bank manager at short notice. She had thought that it was someone who had rented a room at the bank...and they were not really the manager, but someone trying to get her to send her money to them in Austria!! She finally decided that it would have been impossible to rent a room at a major Austrian bank to run a scam!! We were shocked at first, but then saw the funny side. The client has lived so long in London...where it seems that no one trusts anyone!! Salutary lesson here. Being very helpful does not always appear to clients as we assume!!

17/10/08 - Property for sale in Austria
Property for sale in Austria.

We have discovered a new effect from the property and financial crisis...Sellers are now taking their proeprty of the market!! The reason being they say, that they do not know where to invest the money from a sale and it is safer to keep the property!!

10/10/08 - Property for sale in Austria
Are properties getting cheaper!!

Many clients have emailed and called us to ask if property is any cheaper now, because property prices in the UK are on the way down as fast as a helter skelter!. In a word...no, the Austrian property has not had the silly increases that have been the norm in the UK for the past 7/8 years. Austrian property prices are quite stable. The government helped in this matter with their 10 year rule on second homes...after 10 years of ownership, you pay no capital gains tax on the profit. Just think, you are entitled to keep every penny...sorry, Euro and cent!!

Prices in Austria have always been a bargain compared to the UK and remain so. You can still get a nice one bedroom apartment for under 60,000 Euro!!

So, it is still sensible to invest in Austria. Whether for holiday home, long term investment or long term rental of your property.

Only 55,000 Euro..There are still bargains around!!

There are still opportunities to pick up a bargain if you are willing to do a little DIY work. WE have just listed a 2 bedroom cottage only 10 minutes from Hochlechner ski for only 55,000 Euros! ....Yes it does need some work(well quite a bit)...but hey the price is perfect investment. Check out our Renovations page. http://www.amazingaustria.com/bargain.php

Main residence or second home?? .

Many buyers ask us the question..."Why can I not buy this apartment and rent it out for holidays?" Well part of the reason is to maintain the price levels in a locality, so that local people can afford to buy a home. There is no bias towards overseas buyers as the rules apply to Austrian citizens from other regions just a equally. When a property is desinated as main residence, it is expected of people who buy in the area to come live there are contribute to the local community. To keep alive village life and schools for the children.

The property market in Austria is affected by UK.

The mortgage crisis in the UK and America has had a knock on effect with fewer buyers visiting Austria at the moment. Most seem to be waiting to see if the doom and gloom lifts in the UK!

Visiting Austria to view Property

Our colleagues at The Bergrose Hotel at Strobl on Lake Wolfgang will be offering 7 nights for the price of 6 from 20th September to the end of October.

Contact heidi at the hotel - you can email: office@bergrose.at

New 3 bedroom house for only 120,000 Euro!!

....So Can it be possible...well, that is what a few of our local house building companies are offering.

Of course it does not include the land, but it does include almost everything else!! This could be the way forward to get a bargain new home. Find a plot of land and have your house build to spec. If you would like some more information on these projects, email us sales@amazingaustria.com

The top commercial bargain this week..is a Guesthouse at Bad Gastein...the price only 240,000 Euro!! The catch...it will be hard work in the main tourist season, but what a bargain!! This is an excellent project for someone wanting to start a new life in Austria. For more info contact us sales@amazingaustria.com

Should you buy a property in Austria or wait?

With the recent weakness of Sterling against some of the world's major currencies, it is bound to have an effect on the property markets.

On the day when Sterling base rates went down to 5 per cent The Independent's headline was "The currency crunch". An 80p Euro was a big deal...So What went wrong?

Investors fell out of love with Sterling. It has been going down since the writing appeared on Northern Rock's wall back in September. The technical picture still points to Euro 1.20 for Sterling.

So..What is the problem? The economic slowdown affecting the United States has made its presence felt in Britain. Sterling interest rates are going down. Investors don't hang around for smaller and smaller returns; they put their money somewhere else.

And then what? The global nature of the economy will make it difficult for other currencies to stay out of the mire. When that penny drops, the Euro, the Swiss Franc, and a few other currencies should have their day of reckoning.

And the outcome? Sterling is close to a turning point. It may already have happened. Can you bet the house on it? No! Is it reasonable to look for a currency correction? Yes. We will not return to last year's highs but we may well see Sterling/Euro in the mid-1.30s by summer.

So the question is, should you buy a property or wait? Well, sterling might creep up a little, but then there is the emerging buyer from the new Eastern EU members, and they are driving prices. So, all in all, it is a personal choice whether to wait for a better exchange rate or wait for the property prices to rise.

Property even more in demand!!

The demand for reasonably priced Austrian property just goes on and on. even though the £ sterling has become relatively weak against the Euro. It has not deterred those buyers who realise that they are going to make a profit on an Austria property purchase.

Clients who bought when the exchange was above 1.40 euro last year, have already made a gain. on their property. It is difficult for anyone to say what will happen with exchange rates, but the consensus is that the Euro is getting stronger. the spot rate today 2/4/08 is 1.26. Many people are sitting on the fence waiting to see what happens but wherever one buys in Europe it is going to be the same.

Something to consider is..that when the Euro was introduced the rate was set at 1.25....so it seems that after all these years it is simply where it was planned to be?

So what to do? Well...many of our clients are taking the maximum Austrian mortgage availabale, thereby transferring the least amount of sterling. This has saved lots of money on exchange rate and on transfer charges. One of the local Austrian banks is offering mortages at 2.5%..yes you read that correctly, 2.5% !! With so many EU citizens on the move with their Job or retirement, it makse sense to check out all available methods to save money.

When transferring UK sterling, open a free urrency account with our colleagues at Money corp. We have put a link to the request form at the bottom of the page. You will get the best euro rate and it is much cheaper than using your bank as the fee is so low. And the account costs you nothing to set up. It is just like having another bank account, but with none of the charges!!

Austrian Mortgage rates and buying in Austria

The current mortgage rate is between 4.25 and 5.50% dependent on type and also any special offers that the Banks are promoting. To give an idea a 100,000 Euro mortgage was cost on avaerage 540 euro per month. Soit can mak sense to keep your money in a high interest account in the UK and use the interest gained to pay for an Austrian Mortgage.

We now have a dedicated Experienced Austrian Mortage advisor on our team, so if you have need of some mortage advice about buying in Austria or a quote, just email us. sales@amazingaustria.com

Austrian lakes promotion

The new 'Austrian lakes' toursim promotion starting 29th April and running until 2nd November this year, is predicted to increase holiday property sales and increase demand in this already sought after area. We will be running regular features all this year on the effects of this campaign on prices in the varous areas.

Austria set to gain from Euro 2008 football

The property market in Austria is set to benefit from Euro 2008, according to some property industry experts.

Some of the major investment companies, noted that 'property-dense areas such as Vienna and southern Austria are almost certain to gain from this prestigious sporting event'.

The potential impact the events will have on the country can only be positive, as many people who have never visited Austria will arrive and many will decide to invest in the country. In contrast to other countries with ski resorts, Austria's appeal lies in its traditional culture and all-round tourism.. the country was placed 16th in Channel 4 programme A Place In The Sun's list of the 20 Best Places To Make Money.

Many people are buying specifically in Austria, for the summers, which the property market does not get in Switzerland or France!!

New International School

With the good weather here in Austria, St Gilgen's new International School at Lake Wolfgang is on schedule to open this September. This has attracted interest from all over the world and also increased the interest for property in this area at Lake Wolfgang. For more information on the school, check out the website www.stgilgen-international-school.at

Latest Austrian hotspots!

Many of the popular ski and lake areas are getting very pricey. But we have found that you can still get the bargains if you are prepared to look at different areas.

Two that we will be featuring this month are Lake Traunsee and the Kaiser town of Bad Ischl. Here you can still still pick up bargains from £27,000 for a studio and from £36,000 for a one bedroom apartment. Both are within an hour of Salzburg. Bad Ischl is near to the ski region Dachstein West. Traunsee is further from the major ski areas, but you have the benefit of fantastic golf courses and the yachting on the lake. So this area ios superb for the boatng enthusiast.

We will be launching two new hotspot pages next week, so keep a look out.

Forty percent of British plan to retire abroad!

An increasing number of british are so fed up with Britain under Brown that they plan to retire abroad. They want to ditch spiralling council taxes and higher house bills.

This trend is growing, because as many as 40% of people working would consider retiring to Europe or a country even further away! Interestingly, the more money people earn the more they want to leave the country.

Well, if you are one of the 40% considering leaving the UK to retire or live in another European country...then please consider Austria!!

More TV property programmes!

At the end of last year another television programme popped up on our screens showing a couple looking for property in Austria.

The programme 'Home or Away' followed a young couple interested in a holiday home in either Norfolk or Austria.

The programme did not really do justice to some of the beautiful areaas of the Salzkammergut and certainly the researchers of the programme did not, I feel do their home work with regards to property!! There are many bargains to be had in Austria but there are also some restrictions. These are in place to protect areas from becoming tourist ghettos with empty property when the season has finished. You can buy certain property but it must only be used for yourself and not commecrcially let for holidays. If you want to do this then there are plenty of what are called FerianWohnungen.These can be let for holidays all year.

If you have any queries about what you can and cannot do, then please drop us an email.

Property sales have stayed very high, with the most popular regions being the Lakes of the Salzkammergut. Salzburg is now becoming of interest as more people look at the possibilities of investment rather than just a holiday apartment Salzburg like any city needs rental property for worers and at the moment there is not enough property on the rental market. THis is where our cliens are now considering investing ther money. Yields are approx 6-7% plus the steady increase in property values. Many more of our clients are also making a lifestyle choice and moving to Austria to set up business or retire. Demand for Guesthouses is on the increase.

Gaining in popularity

Two areas are gaining in popularity. That is around the Spa town of Bad Ischl. At the moment prices are extremely reasonable, with a one bedroom apartment selling for 45,000 Euro. The increase in interest in this town is because as it is near to the Dachstein and Postalm ski areas. also it is less than an hour from Salzburg airport.

The other area is the city of Salzburg. This city is great for long term rental investment as there is a lack of rental property for workers. So it is worth to consider if one is wanting a long term investment. So it is possible to buy with an Austrian mortgage and this is paid from rental income. Also if one invests in a new property for rental there is no VAT to pay. Then after 10 years there is no capital gains to pay.

Research shows Austria a good option
for property investment

Research by Channel 4 programme 'A Place in the Sun' estimated that £100,000 of property investment in Austria could be worth £311,000 in 10 years time. An increase of 211% putting it ahead of Cyprus, France, Spain and Italy!! This seems to be confirmed by the strong demand for property in all areas of Austria but particularly in the Salzkammergut, with it's easy access to Salzburg airport.

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

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