Buying property in Austria should be relatively straightforward, but we would always recommend that you engage the services of a reputable agent who can assist with understanding the Austrian tax and legal structure, finding a suitable financial institution and eventually managing your property investment.
Read more on the buying process in Austria in our Inside View Austria or our Buying Guide.
Generally individuals can acquire ownership of real estate however some provinces prohibit the purchase of real estate in certain zones, when the property will not serve as the owner’s permanent residence.
Citizens of EU member states are entitled to acquire property without restrictions. Certain corporate structures may allow for acquisition without the need for special permission.. Generally, non-EU citizens are allowed to acquire real estate if they apply for a special permit at the Land Transfer Authorities beforehand. The requirements for obtaining a special permit can be found in the nine provincial land transfer laws.
It is possible to apply for finance options, especially as the Austrian real estate market has proven very stable over the last six decades, with low volatility and constant growth rates; banks are interested in financing real estate acquisitions. In order to become legally enforceable, mortgages on real estate as well as on buildings on third-party land and building leases may be registered in the land register on the basis of a written and notarised mortgage deed. Real estate transactions are usually handled by an attorney or a notary public. The financing bank will provide the fiduciary with the purchase sum upon signature of the mortgage deed. The attorney/notary will disburse the money upon receipt of the documents needed to register the mortgage and the buyer’s ownership
Please refer to our buying guide for further information on this area. This document has been compiled as a guide for potential purchasers of property in Austria. It does not seek to provide or replace legal advice which you should obtain, nor is it intended to have any contractual effect.