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You are at:Home»Finance»What you need to know when buying real estate in Austria

What you need to know when buying real estate in Austria

August 9, 2019

Austria is located in the center of Europe. It borders on Slovenia, Switzerland, Hungary, Italy, Slovakia, Germany and has no access to the sea. However, this fact does not affect political and economic stability. Austria – famous for their traditions, accuracy and security. A soft climate prevails in the country, and the sun shines intensively in the mountains, especially at high altitude. Therefore, the natural attraction of the country is the mountains of the Alps. Book, coniferous and oak forests are distributed almost half of the state, which favorably affects its ecology. Austria is also characterized by safety, stability and high life standards. Given these factors, many people are increasingly acquiring real estate in this country. It should also be focused that the real estate market in Austria is very stable, since the state has developed bills that exclude speculation in this market, but this procedure will be more difficult than buying a land plot in the Moscow Region. In addition, foreigners are attracted by the possibility of year -round rest and the beauty of surrounding landscapes. Before buying real estate in Austria, you need to apply for a purchase in the municipality, which is considered strictly individual. This situation is due to the fact that the state is administratively divided into 9 federal lands, each of which have its own laws. In Austria, you can buy real estate in 2 ways: on your own behalf or purchase a company owning this real estate. It should be noted that on some lands, only a citizen of the European Union can buy real estate. If the municipality gave the go -ahead for the purchase, then the buyer will have to open an account with a private Vienna bank and pay taxes in the amount of 5.5% of the cost of real estate.

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