In Austria, whether you're in the market to rent or buy, you'll find a diverse range of properties available. From cozy urban flats and studio apartments to rustic mountain cabins and cottages, there's something to suit every preference. While historic homes are plentiful, newer constructions are renowned for their superior quality and eco-conscious design, offering an attractive option for potential buyers.
Before purchasing property in Austria, there are essential considerations to understand, such as the average cost of a house and the housing landscape in the country. Additionally, it's crucial to know who is eligible to buy property in Austria. While citizens of the European Union, the European Economic Area, or Switzerland face no extra restrictions due to Austria's EU membership since 1995, non-EU citizens may encounter additional hurdles. Obtaining an official permit, which can take up to six months, is typically required for non-EU citizens. However, individuals from countries with bilateral agreements with Austria may have expedited permit processes. Regulations for obtaining permits vary by Austrian province, and approval is contingent upon conformity with local authorities' guidelines for intended purchase and use.
In Austria, there are two main types of residential properties: single properties and co-properties. Single properties grant owners full control over their home and the land it sits on but typically don't allow for additional construction on the land. Co-properties, on the other hand, allow owners to add more buildings as desired.
When purchasing a property in Austria, certain documents are required, including proof of citizenship, a valid residence permit, the property contract or draft, a current excerpt from the property's land registry, and a statement of the property's intended use. Additional documentation may be necessary for legal entities or associations.
The average price of a new home in Austria is approximately €359,000, though prices can vary depending on the region. For example, a new-build in Styria might cost around €300,000, while in Lower Austria, the average price could be closer to €338,000.