The term “commercial real estate” includes various types of property that serve exclusively for profit generation, unlike the residential real estate, which is used for living purposes.
Austria has many shops and small stores, ranging from 10–12 sq.m. to 500 sq.m. There are also large shopping centers with areas of 10–15 thousand sq.m., which can be purchased entirely or the individual premises can be bought or leased. The specificity of Vienna and other major cities is that premises in the central part of the city are almost never available for sale. They can only be rented, often at a high price, with the payment of the so-called Ablöse.
Those are a constant source of income for Austrian entrepreneurs. The number of various food establishments in Austria exceeds 40,000, with most of them located in Vienna, Graz and Salzburg.
One of the most popular types of commercial real estate in Austria. They are located in both new business centers and historical buildings in the city center. Worth mentioning is that unlike in many other capitals, offices in apartments are quite common in Vienna.
A highly specific type of business requiring confidentiality, careful consideration, and experience. Usually, even negotiations on the sale or lease of hotels are strictly confidential, as a leak of information about a future change of owner can affect the hotel's reputation and cause panic among staff.
These are multi-apartment buildings that are usually owned by one individual and are intended exclusively for renting out apartments. This type of real estate is considered commercial because, from the owner's perspective, the purpose of owning a Zinshaus is not to live in it but to generate income from renting out apartments. This is a classic and reliable type of real estate investment, very popular in Austria.
They may be of interest primarily to professional developers and builders who build apartment buildings for the purpose of further sale or rental of apartments. At the same time, land plots for which all necessary building permits have been obtained are most valued, since their registration in Austria is complex and lengthy.
Usually, the most attractive commercial real estate properties are not available in the public domain, meaning it is almost impossible to find them on the Internet. The reason for that is that owners do not want to publicize that they are selling or leasing their property. As a result the information about such properties can only be obtained through specialized real estate agents who focus specifically on commercial field.
In most cases, owners or lessors of commercial real estate require a buyer or a tenant to have an Austrian company. As an exception, a legal entity from another EU country may be used for these purposes. This means that it would be difficult for an individual to buy or lease a commercial property.
Usually, the process of reaching a sale or lease agreement takes several months, as owners and especially lessors carefully verify the information about the company interested in their property.
To purchase commercial real estate, a permit may be required if the buyers are non-EU citizens. Even in cases where citizens of third countries register a company in Austria,it is highly likely that such company will need to obtain a governmental permit. This is regulated by the legislation of each federal state in Austria. For the purchase of agricultural land, a permit will be required in any case.
When transferring commercial real estate for lease, owners often require payment of so-called Ablöse, or in other words, a "buyout" fee to the previous tenant or even to the owner. Sometimes the amount of Ablöse can significantly exceed the monthly rental cost of the property.
Working with commercial real estate requires contacts, specialized knowledge, and experience in negotiations. Not all brokers engage in this specific area, but the VigoImmobilien team includes specialists who can help in selecting a commercial real estate object for purchase or lease, according to the request.
