Home link Hagen Lodge Homepage

Buyer's Guide

Your guide to buying property in Austria

Austria has been a member of the EU since 1995 and has historically imposed a number of restrictions on foreign property buyers. Austria has nine independent provinces and the rules governing property investment vary between them. Thankfully, a number of legislative changes in the past 15 years have made investing in Austria a more viable option, creating fresh opportunities for overseas investors to enjoy the benefits of an Austrian lifestyle while earning a stable return.

 

The Hagan Lodge development is located in the province of Styria, where there are much fewer restrictions governing properties than elsewhere in Austria. Rest assured, the team at AlpenParks will be able to answer all of your questions and ensure a simple and smooth purchase of your own mountain chalet.

 

Costs of purchasing

On average, the costs of purchasing a property in Austria amount to around 7% of the purchase price, and with AlpenParks, all these costs, which includes the costs of notaries, lawyers and taxes, are built into the sale price so there are no unexpected expenses.

 

Mortgages

The mortgage market in Austria is very stable as banks only lend up to 50% loan to value, usually over a period of 15 - 25 years. If you need a mortgage to buy your AlpenParks property, we can arrange this for you through our partnership with Austria's premier banks. You are also welcome to arrange a mortgage independently with your preferred bank if you choose.

 

The Legal Process

According to Austrian law, the deed of sale must be signed by both the purchaser and the vendor in the presence of a notary, though both parties usually delegate this to a power of attorney.

 

The notary’s office will send you a copy of the deed of sale in German, together with a proper English translation, along with a power of attorney authorising the notary’s secretary to sign on your behalf (if you have already given approval that any outstanding issues have been adequately resolved). You must take the power of attorney to a notary public in your home country to have your signature witnessed, before the notary public sends this on to the foreign office.

 

If you’d prefer to hop on a plane and sign in person instead, you can always do that as it is much more fun!

 

Keeping your accounting simple

AlpenParks will organise for all of your accounting to be done by Prodinger GFB & Partner on a quarterly basis. We are committed to ensuring that purchasing a property in Austria is simple and cost-effective, and we would be happy to provide you with more detailed information about any of the issues outlined above. We can also connect you with an in-house English speaking accountant who will appraise your circumstances free of charge.

 

Austrian Flag

 

buyers loser

 

prodinger