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OUR SERVICES
Euroburo Ltd does not sell property - it advertises
properties for sale by various estate agents in a number of countries.
Our family owned estate agency Delta Immobilien GmbH is based in Bad
Ischl about 40 minutes east of Salzburg by car and this company handles
all our affairs in Austria. Half the team at Delta Immobilien GmbH
are Austrian and the other half are English. Therefore, they have
total command of both languages are are able to handle any matter in
Austria connected with property purchase.
Their involvement is particularly important should you be planning to
purchase a business in Austria as there are professional enquiries to be
made on your behalf that can only be handled locally.
They will deal with . . . .
All sale contracts and fully translate them. They will
accompany you to the lawyers or notaries office and will fully explain
the entire contract in English.
They will carry out full abstract of title for you as they have direct
computer access to the land registry as fully licensed agents.
They will make local enquiries for you with the Gemeindeamt and with
the Bezirkshaupmannschaft in order to ensure that there are no
unforeseen difficulties with the Austrian authorities. This is
vital if you are buying a business.
Advise on how to register with the authorities here.
Assist you with setting up - electrical connections , 'phone etc.
Be available to you in the future for any ongoing support that you may
need.
Arrange bank accounts, property and car insurance, mortgages etc.
You are more than welcome to discuss your requirements directly with
Delta Immobilien GmbH but please let them know that you are coming as
they are usually busy and they would prefer to give you adequate time to
deal with your enquiry.
What to buy
If you are planning to live permanently in Austria
then as long as you are an EU citizen with a passport from an EU country
you can buy whatever you like - with one exception - mountain farms and
farmland are reserved for Austrian farmers.
If you are planning to buy a holiday property then that property must be
allowed to be used as a second place of residence "Zweitwohnsitz" and
such permission varies from area to area as well as from province to
province.
Where to buy
Many visitors to Austria are only aware of
the mountain and lake regions and most visitors to Austria have only
been to one of the hundreds of amazing ski resorts. The problem
for us is that such visitors fall in love with the attractive scenery in
a particular resort and so they return there time and time again and
thus acquire no knowledge whatsoever of Austria as a whole.
We say "take a good look at other regions of this wonderful country".
There are many parts of the country with really attractive scenery and
superb infrastructure and where property is still relatively cheap to buy.
Look at the sections of this website devoted to "Lower Austria" and to
the "Steiermark" and you will be extremely surprised at what your money
will buy.
Süd Steiermark wine growing country
There are some difficulties if you are looking to buy in either Tirol or
Vorarlberg as the regional governments there have a policy of actively
discouraging the purchase of holiday homes and make it difficult to
obtain a holiday property there.
Property in mountain areas.
Think carefully before you purchase a detached home in a mountain area.
Winters can be very severe and you have to be absolutely certain that
the heating doesn't fail or your holiday home will be a wreck. You
also need to arrange for snow clearance otherwise it will set like
concrete in the drive and you may well not be able to reach your
property.
The myth about high altitude ski
resorts.
Terrified that there will be no snow at all in a few years time? Due to popular TV programmes we are constantly being asked for properties at
over 2,000 meters. First, think about the heating bill.
Second, remember that you will be a long way from a supermarket on a
steep icy road.
Ski resorts only open when there are enough customers. They cannot
afford a staff of 200+ when there are only a hand full of skiers.
The idea that "because there is snow the lifts will be open" is false.
Prior to Christmas when there are few people about, resorts will open
just a few lifts - adequate for the number of visitors. The same
applies at the end of the season when most people have gone back to
work. So you might be high up and you might have snow - but your skiing
is not guaranteed on economic grounds.
Making an offer and
Fees
An offer to buy a property in Austria has to be in writing. It is
called a "Kaufanbot". This document should not be signed until you
are fully able to complete the purchase financially and is not "Subject
to" any other conditions. Once you sign it and it is subsequently
countersigned by the vendor the deal is complete. It is a binding
contract.
We will guide you through the whole process and ensure that you make no
errors. We can supply you with an English language translation.
The fees for buying any property are roughly 9-10% of the price of the
property.
The fees are made up as follows:
Stamp Duty 3.5%
Land Registry 1%
Estate Agent 3 % plus Sales Tax of
20%
Legal Fees Scale fee
which is normally pre-agreed
So in general terms a property which is being sold for 100,000 euros
will cost you 110,000 euros when fees are included.
Please note it costs the same to buy via Euroburo Limited as to go direct
to an Agent.
We charge no additional fee for our services.
Transferring funds
You will be faced with transferring a large
sum of money at some point. We can offer you assistance with this
as we have special arrangements with a large foreign exchange company
who can save you a great deal of costs and probably get you a much
better rate of exchange than you would obtain from your regular bank.
Details on request.
The rental market
In Europe, more people rent a property than there are property owners.
The rental market is well established and well regulated. Leases
are usually for three years and as long as you have been a good tenant
they are automatically renewed as required. A security deposit of
three months rent + service charges is normally required and this is
returned to you as long as you leave the property in good order.
You may also have to pay the estate agent for finding you a place.
There is also a small charge to pay to the Finanzamt (tax office) as a
tax is collected on the lease. This is a one-off payment.
Estate agents fees
Estate agents fees are controlled by law in Austria. The property
market is relatively slow and so commission rates are higher to reflect
this. It will typically cost you 3% and both buyer and seller pay the
same.
Capital gains tax.
Austria is not a speculators paradise. There are controls on the housing
market which largely remove major price fluctuations.
If you buy a property and sell it at a profit then capital gains tax
will be payable on the gain - depending on where you are tax resident.
Businesses pay a reduced rate but you need professional advice on this subject
as it is quite complicated.
Konzession
In order to operate a business in Austria you are required to obtain a
Konzession. This is a permission to trade from the local authority
which ensures that businesses are competent in their particular trade.
A plumber, for instance, must first obtain a professional qualification
and the necessary experience before he can get a license.
Most of our clients have had little trouble in obtaining permission to
operate a B & B or small hotel and we will assist as required with the
application to the Bezirkshaupmannschaft.
And finally . . . .
We are not business advisers although we will do our utmost to assist
you. If you feel that you need professional advice then you should seek
that separately. With common sense you should be able to succeed in a
land which is a full member of the EU and where the administrative
systems have been harmonised with other EU countries so much of it you
will recognise. Remember that you have the same rights here as in
any other member state and the only difference is that they do it all in
German !
Start learning now !
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