Buying an apartment in Austria can be an attractive solution for both investors and people who want to live in a European country with a high standard of living. In this article, we would like to tell you about the advantages of Vienna as a city for buying your own property. High standard of living In 2023, Vienna was named the best city to live in. This is according to a report by the Economist...
Sometimes we receive inquiries from clients who want to buy residential property in Vienna with the prospect of opening a beauty salon/shop or other type of business in it. Such actions may lead to a violation of local law, as in most countries, including Austria, there are separate premises for living and separate premises for commercial activities. That is why, in order to avoid such situations, we will...
A draft law amending the Bauordnung für Wien, the Wiener Kleingartengesetz (1996) and the Garagengesetze(2008) was recently published and put up for discussion. This draft law is called the "Building Code Amendment 2023" (Bauordnungsnovelle 2023). The amendments are expected to come into force in early 2024. The amendments will affect several factors in the real estate sector, including: the...
Renting a property, few people think about the fact that the cost of rent may increase in the future for a number of reasons. That is why in this article we would like to explain when and how rent prices can change and how to protect yourself from disproportionate rent increases. To begin with, the Austrian Ministry of Justice determines the recommended rental rates (Richtwertmiete) on 1 April - once a...
When buying/selling or renting/leasing real estate in Austria, it is important to bear in mind that this is a complex process involving many legalities. One of the key professionals who can ensure a successful and safe transaction is a real estate agent. In this article, we will explain why a real estate agent is so important in the Austrian real estate market and what benefits they can bring to all...
Vienna is the best city to live in! This is according to a recent report by the Economist Intelligence Unit (EIU). The EIU is a world leader in global business intelligence that annually compiles the best cities to live in rankings. According to the new 2023 research (conducted between 13 February and 12 March), there has been a marked improvement in living standards around the world following the easing...
Renting a property in Austria is a very common practice. Renting property always allows you to remain mobile and does not require you to have a large sum of money at once (unlike buying property). However, few landlords and tenants are fully aware of their rights and obligations in this process. That is why in this article we have compiled the most important information for those who wish to rent or lease...
Austria is known as one of the best countries in Europe, and this is not surprising, as it is famous for its economic stability and high standards of living. Therefore, investing in Austrian real estate is an excellent solution to preserve and even increase your assets. Many of our clients have a question: "Can a foreign legal entity buy property in Austria?". That is why in this article we will explain...
Under Austrian law, property owners are required to pay an annual tax on their property. That is why the real estate tax (Grundsteuer) is an important factor to consider when buying property in Austria. It should not be confused with the one-off real estate transfer tax (Grunderwerbsteuer). The Grungerwerbsteuer is paid once only when you buy a property, while the Grundsteuer is paid annually. In this...
Austria is rightly considered one of the best countries in Europe. It is peaceful, beautiful, has a stable economy and a highly developed culture. That is why many people dream of buying a house in Austria. In this article, we would like to tell you how to answer the question "Is the price of a house too high/low?". A detailed analysis of the statistics for previous years will help us to answer this...