Major Austrian cities and areas for property acquisition and the prices






Posted on 31.12.2019
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Austria corresponds to a federal republic and embodies 9 Lands: Vienna, Tirol, Lower Austria, Upper Austria, Vorarlberg, Carinthia, Salzburg, Styria and Burgenland.

According to the state laws the residents only may possess real estate property on the country's territory. They are the natives themselves, EU-citizens living in Austria and non-residents with a residential permit.
Mere property obtaining does not ensure getting a residence permit.

Buying property in Austria by a foreigner

  1. No boundary conditions for EU-citizens.
  2. Non-EU-citizens have to obtain a special permission to get the right for property transfer from the authorities beforehand. The procedure varies from Land to Land.
  3. When applying for the approval one should have a valid passport, fill in the form and advance the document enouncing property usage intentions. Apart from this, it is necessary to provide a draft contract, current record on the local cadaster and a membership card. Before application preferably check all the papers up with a local lawyer or a notary.
  4. In order to make the transaction a sale and purchase contract (Titel) and the record on the land registering book (Modus) should be delivered.
  5. A foreign investor transfers money to an account of the lawyer, who effects the deal. The payment will go to a seller after his registration as the new proprietor in the Land Register.
Cancellation of a purchase transaction without any expenses is impossible.
Table of the expenditures:

Vienna

A great demand for property in Vienna has been observed in recent years. First of all, it is connected with a high level of health-care and education, a well-designed infra, social stability and a clean environment. Secondly, prices on the real estate market are apparently lower than in other countries of the Europe and demostrate a steady growth. Within 10 years the increment has allowed investments increase by 50%.
Schonbrunn Palace, Vienna 
The Russians, the Ucrainians and the citizens of former Soviet Union countries may purchase property in Vienna with some restrictions: as legal entities and as residence permit owners.
As a rule, an average price for penthouses and luxury apartments located in Innere Stadt (Inner Town) is about 7.250 Euro per 1 sq. m. In the majority of the districts, except from Inner City, the prices exceed 4.000 Euro per 1 sq. m. In future prospects Mariahilf may pass 5000 Euro mark only, because it is being dynamically developed as a trading and business center. For instance, the value for the apartments at The Ambassy amounts to 6.200 Euro per 1 sq. m.
The prices for the apartments in the nearest areas to the city center
The lowest cost for the real estate in Vienna in an industrial district Simmering reaches 3.000 Euro/m2.

Apartments priced at 100.000 Euro refer to fixer upper or located in rough areas.
The biggest share of tenants is found in Vienna – 78%. An investor will gain more if obtains not one spacious flat but several small apartments or studios 35-40 m2. Profit-making capacity of such apartments estimates to 5% a year.

Lower Austria

The area of Lower Austria is famous for its natural and architectural sights, ancient temples and fertile agricultural lands. There is merit in go on travels and living in Lower Austria, because the level of the prices here is 30% less than in Vienna, Salzburg and Tirol. The cities situated in a 30-minute drive from Vienna are very popular with the investors. The prices here are much lower than in the capital, though the highest in the region.
  1. The most expensive real estate is in Baden by Vienna and in Modling. A house may be taken on an average for 375.000 Euro, a townhouse for 310.000 Euro, a villa – from 500.000 to 2,5 million Euro. Purchase of a real castle will go for 5 million Euro.
  2. Saint-Polten is an administrative center of Lower Austria and located in Must Quarters (Mostviertel). The prices for the apartments here start with 243.000 Euro (for 70 m2) and an average house cost is about 180 000 Euro.
  3. In Wiener-Neustadt real estate property may be acquired at 2.368 Euro per a m2 value.
  4. The properties in Krems an der Danau are priced from 2.298 Euro per a m2.
  5. The apartments in Waidhofen an der Ybbs can be taken for 760-1.000 Euro per a m2.

Styria

Styria is the second largest Land in Austria. It lays on the South-East of the country. The northern and the western extensions of the region are home to ski resorts and national parks, including in particular the underwater park on Green Lake (Grüner See). The most prominent plains and valleys vast on the river Mura water gap. The major cities of the region: Graz, Leoben and Leibniz are located over there.
Leoben city
Main Features of Styria:

  • a storied history;
  • innovations are in widespread use;
  • variety of amenities for entertaining;
  • plenty of musical groups, wind-bands and choirs;
  • ¾ of the territory takes forests and vineyards.

Сost for one sq. m.:

  1. Purchase price in Styria starts with 1.259 Euro/m2.
  2. In the South-East of Styria – 2.817 Euro/m2.
  3. Prices for townhouses in Leoben from 420.000 Euro.
  4. In Leibnitz houses come in at € 872.700.

Graz

The capital of Styria, Graz, is the second largest population in Austria. High level of living and a great number of job opportunities attract more and more immigrants and natives. Graz is the city of greenery and parks at that.

About 30% of foreign purchasers call for Graz when looking for property in Styria.

The main residential districts of Graz considered to be Saint-Leonhard, Geydorf, Yakomini, Mariatrost. Here are the most expensive properties in the region. The prices for the apartments in new constructions begin with 4.000-5.000 Euro/m2.
Graz, Austria
In Graz foreigners are granted the opportunity to obtain an unlimited quantity of apartments as individuals, i. e. a private person may get the right for as many properties as he wishes.

Schladming-Dachstein

A popular ski area Schladming-Dachstein encounters 230 km of slopes and is busy all-year-round. The Dachstein massif lies at an altitude of 3.000 km and offers challenging skiing and snowboarding throughout a year.

In this region a starting price for apartments amounts 4.800 Euro/m2.

A two-story furnished house with 4 bedrooms with an area of 129 sq. m. costs 900.000 Euro.
Vacation type apartments are available to purchase in Schladming. This category of real estate is used when the owners stay at it for a pair of weeks a year only and for the rest of the time it lets to rent.

Burgenland

This is the easternmost province of Austria. The region is renowned for the spas and nature reserves. National Park and Neuziedler See-Zeewinkel Park are added to the UNESCO list.

The share of property ownership in Burgenland estimates to 71% against 23% in Vienna.
Burgenland
Real estate in Burgenland goes at a starting cost of 840 Euro/m2.

Properties, located north of lake Neuziedler See, and in Eisenstadt, the capital of the region, with its outskirts are of highest demand among purchasers.

Neusiedl am Zee district of Burgenland stands for one of the most expensive. Houses total up from 250.000 Euro, townhouses from 200.000 Euro. A house in Eisenstadt and the outskirts comes for 200.000 Euro.

Southern thermal region

It is sited on the bordering area encompassing both Styria and Burgenland parts. There are plenty of spas found at the springs. From this place it is very convenient to reach both the ski resorts and the Adriatic Sea.

Please check property value in this area with our agents.
Hot baths in Austrian mountains

Salzburg

alzburg is a very popular federal land among skiers. Ski Amade – the greatest ski area in Austria, comprising 5 ski regions and 25 resorts, begins just an hour-drive from the capital of the land. The most celebrated winter sports resorts: Zell am See, Kaprun, Obertauern, Bad Gastein.

The cost of real estate properties in Salzburg is relevant to Vienna's and Innsbruck's. Villas in Zell am See can be purchased for 1.000.000 Euro, a chalet near High Tauern park priced at 600.000 Euro.

Prices for houses start with 600.000 Euro, apartments total to 300.000 Euro.

A studio-apartment of a hotel can go at a cost of 3.840 Euro/m2.
Salzburg City view
It is much easier to buy real estate for vacation and rent in Salzburg than in Tirol. Obtaining approval from the local authorities is essential.
Estimates of return on investments compiles 9,2% an increment value to add. In certain cases, the index even passes 10% a bit (when parking spaces are not included that leads to greater yield).

Upper Austria

Upper Austria is situated up north and adjoins the Czech lands and Germany. The main point of interest here is a magnificent tourism area – Salzkammergut, encountering 76 lakes, among which is the deepest lake in the country – Traunsee lake and the greatest is Attersee. Known for its health spas, the resort town Bad Ischl spans in the middle of Salzkammergut. Apart from the spas it offers other attractions like theatres, museums and a golf club. Other popular locations that lie on the lakes are Hallstatt, Bad Goisern, Strobl.

Prices for real estate:

  1. Apartments in Bad Ischl come in starting at 200.000 – 250.000 Euro.
  2. In the capital of Upper Austria, Linz, apartments range from 150.000 Euro, houses from 250.000 Euro. Luxuryproperties cost begins with 5.730 Euro/m2.
  3. A lot can be obtained for about 3.121 Euro/m2 in Hallsatt, a world heritage site in the mountain region of Salzkammergut.
  4. A house in Bad Goisern goes for 360.000 Euro, a moderate allotment for 590.000 Euro on an average.
  5. Town of Gmunden is located next to the lake Traunsee. Price for a villa varies from 3.200 to 9.000 Euro/m2.

Carinthia

Carinthia is the southmost region of Austria, bordering Italy and Slovenia.

Foreign investors here are mostly interested in real estate located on the lakesides or in the capital of the region – Klagenfurt. Due to strong demand, property purchase price has been increased by 25% for 5 years in a row.
The EU-citizens may acquire real estate property in Carinthia as legal entities mostly.
Carinthia
The ritziest districts with appealing properties overviewing the lake Worthersee lie in the western part of the capital city Klagenfurt. Capital gains from rent estimate to 6.000 Euro per a month on an average. As an example, see the resort complex LUXUS.

Properties evaluate from:

  • 3.200 to 4.300 Euro/m2 in Klagenfurt;
  • 600.000 to 2-3 mln Euro for villas at Worthersee lake;
  • 3.500 to 8.000 Euro/m2 for real estate in small towns Ossiaсh and Bodensdorf, settled on the banks of the lake Ossiaсher See;
  • 5.000-7.000 Euro/m2 for houses viewing the lake in the town Millstatt am See.

Tirol

Winter sports resorts in Tirol are the best known. Ski season lasts here all year round. The resort towns Kitzbuhel and Saint Anton am Alberg are exceptionally popular.

  1. A modest cottage (chalet) in Kitzbuhel priced at 10.000 Euro/m2.
  2. In Innsbruck, the main city of Tyrol, houses are offered for 370.000 Euro/m2, apartments sell for 200.000 Euro/m2.
The local land acts impose strict constraints on non-EU-residents when buying property in Tirol. But it should be taken into account, that the climate conditions do not allow a yearly rent-roll: properties rented for winter do not bring income in summer time.
Tirol, the town of Flirsch

Vorarlberg

This is the western-most part of Austria and the smallest region. It shares borders with Switzerland, Germany andLiechtenstein.

The most well-known ski resorts of Vorarlberg are Leсh and Zurs.
Property acquisition in Vorarlberg is hard if not impossible. Houses listed here are available for buying as permanent residence only.
An apartment in Zurs may be taken for 1,050,000 Euro in the mean.

Real estate property in the Montafon valley and the major cities of the Rein's valley: Bregenz, Bludenz, Dornbirn, Feldkirch, is regarded to be closer to a budget for foreign investors.

Bregenz, the capital of the region, lies on Boden See lake. Real estate properties in this area are estimated as the most expensive after the upscale ski resorts. The city's districts Pfanderchang and Old Town go over well among investors. Apartments in newly constructed buildings can be taken for 3,500 Euro/m2, houses are priced at 5,000 Euro/m2.
Over the last 5 years the values for real estate in Vorarlberg have been increased by 55%. That is themaximal rate over Austria. Non-EU-citizens are permitted to get the right for properties transfer as legal bodies only.
  1. Apartments in Bludenz go at a starting cost 160,000 Euro.
  2. Real estate in municipality of Gaschurn is sold at 517,000 Euro.
  3. Prices for apartments in Dornbirn at the Rein's valley start with 392,000 Euro.
  4. In the valley of Montafon a 1-bedroom apartment can be taken for 198,000 Euro, a 2-bedroom apartment for 494,000 Euro, 3-bedroom apartment – 568,800 Euro.
  5. Property prices range from 265,000 Euro in Schruns municipality.
  6. In Arlberg they start with 470,000 Euro.
Conclusion

  1. Above all, Austria is widely-known for impressive ski resorts and wins over as a stable democratic state.
  2. Austria may boast of an advanced market system and an up-to-date infrastructure.
  3. A high level of living and an enhanced industry.
  4. Wholesome social environment together with the abovementioned factors attract tourists, foreign investors and businessmen.
  5. Medical service in Austria is regarded as the one of the best all over the world.
  6. A specific educational system is implemented in Austria, it features close collaboration between classical education and production sector.
  7. Common value added tax amounts to 20%, a reduced rate – 10%.
  8. Tax deducted for property transfer 3,5%.
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