Buying property in the federal state of Lower Austria

Lower Austria is one of the most popular destinations in the country of Austria, among both tourists and expats. Lower Austria is the largest federal state in the country.

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Lower Austria

Lower Austria is the largest federal state in the country and is second in terms of population. It’s the main center of wine-making where one can find the majority of Austrian vineyards.

Moreover, the federal-state boasts a well developed transport connectivity system, a great number of historical buildings and cultural places to visit, and many resorts and sights for active holidays and hiking trails.

This article will help you to learn more about the federal state’s features and what investors, who want to obtain a property here, should know.

Buying property in the federal state of Lower Austria

GENERAL INFORMATION ABOUT LOWER AUSTRIA

The largest state in Austria
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Lower Austria is located in the northeastern part of the country and covers an area of about 19.2K sq.km, which is the largest federal state in Austria. Moreover, a significant part of the area is covered by agricultural and forest lands, vineyards and alpine meadows that are well-known all over the world. It's worth noting that Lower Austria surrounds the capital of the country with a ring, which makes Vienna located in the center of this region. Lower Austria also borders Upper Austria, Styria and Burgenland and has borders with foreign countries such as Czech Republic and Slovakia.

Geographic diversity
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Due to its vast territory, Lower Austria offers great geographical diversity. Here you can find mountains going up to 2,076 m, vast valleys, caves, fifteen rivers, among which are the Danube (Donau) and Lužnice (Lainsitz), the second being the most important route connected with the Baltic Sea, and two large lakes such as Lunzer See and Erlaufsee. These picturesque lakes known for their pure water can be found at the foot of the Alps and attract thousands of tourists who are fond of water sports annually.

The land are separated by the Danube
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The northern and southern parts of the federal land are separated by the Danube, which is a mountain area in the south of the river, while valleys which are located on the Granite Plateau are in the northern part.Lower Austria is subdivided into four regions (Weinviertel, Waldviertel, Mostviertel and Industrieviertel), four statutory cities (Waidhofen an der Ybbs, Wiener Neustadt, Krems an der Donau and Sankt Pölten) and 21 districts.

Sankt Pölten
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Sankt Pölten, the largest statutory city of all the federal states, is the capital of Lower Austria and lies on the Traisen River, located north of the Alps. Sankt Pölten is one of the most ancient cities in the country and was previously the Austrian capital until 1921.

Climate.
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The climate here is moderately warm and the average temperature in the hottest month of summer (July) in Lower Austria is +19°C.

Population.
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As of 2020, the population of Lower Austria was more than 1.7 million people, which made it the second most populous federal state after Vienna.However, the population density here is much lower than in the capital and is 81 people per sq.km.

If you are considering moving to Lower Austria with the aim of further employment or running your own business here, you might want to learn more about the developed economy sectors of the area. Moreover, we advise you to read more about the tax system in Austria as this information might be necessary for property buyers who are planning to obtain an income here.

Lower Austria is primarily an agricultural region as 42% of its territory is covered by agricultural land, which is why agriculture and forestry are among the key sectors of the local economy, as well as wine and livestock industries.

ECONOMICS AND FOREIGN TRADE

From the 45.8 hectares of all vineyards in Austria, 2/3 of them (almost 31.5 hectares) can be found in this region.

Lower Austria is the first among other federal states in terms of the numbers of wine regions, as there are eight of them here, such as Wagram, Weinviertel, Wachau, Kamptal, Carnuntum, Kremstal, Thermenregion and Traisental. Among other developed sectors in the region are oil and gas industries, textile and food industries, as well as metallurgy and woodworking. This federal state provides gas transit to countries of Western, Central and Southern Europe.

In addition, Lower Austria is actively engaged in foreign trade, especially with Germany and other European countries such as France, Italy and the UK. Germany has been the most important trading partner of Austria for years. In the last few years a partnership with Russia has started seriously developing here, which might be important to know for expats from CIS countries.

The exports of goods from Austria amounted to EUR 141.93B in the year 2020 and Lower Austria had the third largest share in the overall Austrian exports which made EUR 20.82B or 14.7% followed by Upper Austria with EUR 36.67B or 25.8% and Styria with EUR 22.26B or 15.7%. Lower Austria is also in the top 3 federal states in terms of trade intensity – sum of imports and exports.

Lower Austria offers a wide range of resorts including ones with thermal springs or ski amenities, as well as historical sites and cultural monuments. Tourists who come to the region are also interested in the wine routes. Below you will read about the most popular attractions of the federal state.

SIGHTSEEING IN LOWER AUSTRIA

There are several airports on the territory of Lower Austria, including the Vienna International Airport, located in Schwechat. This is the largest airport in the country that provides about 800 flights per day.

The largest Austrian federal state can easily be reached by airplane, trains, buses and water transport.

You can take the City Airport Train from the airport and get to Vienna in just over 15 minutes. Train trips to Sankt Pölten, Krems, Wachau or Retz will take about an hour.In this region, as well as in all Austria, the railway network is quite developed.
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You can get to Sankt Pölten quickly and in comfort directly from many European cities.

You can get to Sankt Pölten quickly and in comfort directly from many European cities. For example, the journey from Prague will take 5.5 hours, from Budapest less than 4 hours, from Munich 3.5 hours, and from Bratislava, Passau and Salzburg about 2 hours.

Passenger cruises in Austria between other countries are carried out along the Danube River. In particular, there are regular trips in Wachau between Melk and Krems as well as cruises between Vienna, Budapest and Bratislava, and special cruises from Passau to Vienna.

TRANSPORT CONNECTIVITY IN LOWER AUSTRIA

The Lower Austrian real estate market has shown much stability for the last several years. If you are planning to obtain a property in this region or another Austrian federal state, you might be interested in our guide to buying property in Austria where we have explained the details of the entire process to foreigners.

In Lower Austria the majority of properties on the market are private houses. However, you can find apartments for sale or to rent here too.

In the first half of 2021, Lower Austria had a record-breaking volume of transactions in the country at 15,658. The growth seen was over 18.3%, or 2,421 transactions. Vienna came in second place with 13,005 transactions and an increase of 16.4%, or 1,828 sales. Such numbers in Lower Austria can be explained not only by the large territory of the federal state but also because of the number of benefits that property owners get here.

PROPERTY IN LOWER AUSTRIA

The first advantage is the proximity to the capital of Austria that lets you enjoy all the amenities of a metropolis, and the high standards of living in the country.

However, compared to Vienna, the population in Lower Austria is much less dense and a calmer private environment. It's worth noting that this federal state has maintained its position in the number of families living in private homes. Therefore if you are coming to Austria with children, Lower Austria might be the most suitable option.

NOTE! While moving to Austria, you will need to obtain a residence permit for yourself as well as for all family members. In this article, you can learn more about the requirements for applicants, the documents you will need and the terms of the procedure.

Property prices in Lower Austria are significantly lower than in Vienna. According to RE/MAX, the average price of a real estate unit in Lower Austria in the first half of 2021 was EUR 253,659 (compared to 2020 prices have increased by 13.6%). This is three times less than in the capital of the country where the average price of a property was EUR 779,977 in the same period. However, it is worth noting that Lower Austria offers the largest range of real estate prices in the country.

The highest prices are recorded in towns and cities near Vienna, where the most expensive property can be found in Mödling, where the average cost is EUR 542,203. Tulln is in second place with EUR 420,824 while Baden is third with EUR 367,362. Korneuburg is the fourth most expensive, where buyers can find properties with an average cost of EUR 352,928.

The most affordable options are in Waidhofen an der Thaya with an average price of EUR 80,356. The majority of sale transactions of single or double-family houses were registered in Tulln, Mödling and Baden. A lot of investors choose villas and townhouses with gardens in these towns due to their lower prices compared to Vienna.

If you are planning to invest money in property to get a stable income, we will help you to rent your unit out or resell it at a profit. You can learn more about the main ways to obtain income from investing in the Austrian real estate market in this article.

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The real estate agents of Luxury Immobilien GmbH are ready to assist you in finding the most suitable property option in Lower Austria or any other federal state.As well as resolving all related issues starting from obtaining a mortgage and a residence permit, to getting home insurance, which is mandatory in Austria.