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POSTED ON JAN 4,2021

Off-plan real estate in Vienna

Features of buying a property under construction or off-plan in Vienna – why it is worth buying, the acquisition process and the return on investment.

Off-plan real estate in Vienna

Investing in new buildings in Austria is an excellent and very reliable way to receive a stable and regular income, and often double your investment. We will tell you more about this in our article.

Benefits of buying real estate in Austria

This country has a very convenient geographic location. In fact, it is located in the central part of Europe. Border countries - Czech Republic, Italy, Germany, Hungary and others. The only negative point is the lack of access to the sea, but this factor in no way affects the stability of the economy. This country has a very mild and warm climate. Here some of the best ski resorts in the Alps are located, which attracts outdoor enthusiasts from all over the planet. A well-developed transport system allows you to quickly get to any resort.

It is also worth noting the amazing nature of Austria. This is not surprising, because the government of this country is strictly vigilant for the observance of all environmental standards, as well as the preservation of flora and fauna. Almost half of the state's territory is occupied by luxurious beech and oak forests. Carnations, alpine roses and the world famous edelweiss are a special decoration of the Alps. These plants are reliably protected by the relevant nature protection structures of the country.

Austria has a very high standard of living. There is practically no crime here, because every citizen respects the law and tries to comply with it in everything. Inflation, unemployment - these problems are completely foreign to the country. As for Austrian companies, they are always happy to cooperate with partners from other countries. Austrians value accuracy, safety in everything, and also try to comply with accepted traditions.

Why it is a good idea to invest in off-plan real estate in Austria

There are many reasons to buy an apartment in one of the buildings in construction in Austria. And every investor can find for himself a special reason for investing.
Consider the main advantages of the Austrian primary real estate market:
A wide variety of objects
We are talking about the area, layout, type of housing and other characteristics. For example, in Austria, you can buy a brand new small studio apartment or a luxury townhouse. In addition, housing in different districts and cities may differ in price, and therefore there is an offer for absolutely any wallet.
High level of service
For example, most of the Austrian development companies are independently searching for tenants for housing that has been put into operation. Such actions will free the investor from the hassle of renting the object out. In addition, all repairs are carried out centrally.
Affordable prices
Middle apartments in new buildings cost from 200,000 euros. Smaller studios often sell for less.
Relatively small expenses for the subsequent maintenance of apartments
Utilities in Austria are fully paid by the tenant. Moreover, the tax on residential properties is part of utility bills.
High level of economy
Housing in Austria does not lose value even during periods of economic downturn, and therefore it is a good investment opportunity. If an apartment in a new building in Austria is bought for personal use, then you can live in a country with a high level of economy. Having moved to this country to do business, the immigrant gets the opportunity to conduct business in one of the most developed countries in Europe. In addition, opportunities for cooperation with other European states are open for him. Moreover, the favorable location of Austria contributes to the conduct of business.

How to choose off-plan property

When purchasing an apartment in a new building in Austria, an investor should pay attention to a number of nuances. If the object is purchased for living, then personal comfort criteria should be taken into account. However, when buying a home for subsequent renting out or resale, you need to focus on the demand indicators. It should be understood that it is not the cheapest object that is profitable, but the one that allows you to get the highest revenue from subsequent resale or lease. However, the choice also depends on the amount you are willing to invest in the purchase.

Therefore, when investing in new buildings in Austria, the following parameters should be considered:
1
Cost
An important, but not always decisive indicator. Very often, a more expensive object allows you to get more revenue.
2
Location
Especially important when renting real estate. You should study the demand well before purchasing housing in those areas that are in the greatest demand among tourists.
3
The quality of the house itself
As a rule, there are no problems with modern new buildings in Austria. But it doesn't hurt to check everything, from building materials to communications.
4
Infrastructure
The more shopping and entertainment centers, pharmacies, schools and other facilities near the house, the better.
5
Area
A decisive parameter in determining the class of an apartment. For example, luxury housing should be spacious.
6
Layout
At the moment, most buyers and tenants prefer open floor plans.

Procedure of real estate purchase in Austria

You need to start by filing an application for the purchase of a particular property. Each document is reviewed individually by the relevant authorities. It should be noted that the country is divided into nine federal states and each of them has its own laws, which must be strictly observed.

To buy real estate in Austria, you need to know the features of the existing schemes. In the first option, housing is bought on its own behalf. In this case, the goals should be indicated and documented. In the second case, the purchase of the company that owns the housing is carried out immediately. Citizens of other countries outside the European Union are better off buying real estate on behalf of an entrepreneur - one of the owners of this company. It is also worth noting that in a number of lands, only residents of the European Union have the right to purchase real estate. Thus, there are no uniform rules for buying real estate in Austria. Each time you need to individually think through the options.

As soon as you obtain the permission to make a deal, you can act. To begin with, a comprehensive legal check of the buyer is carried out (special attention is paid to his solvency). This process takes a long time, so you have to endure a little. The next stage is to open an account in one of the country's banks and transfer money there from the bank of your state. After that, the funds are transferred to the account of a legal office or a notary, who is engaged in the purchase and sale operation.

Off-plan real estate as an investment

In order to make good money off-plan real estate, you need to have not only an idea of the local real estate market, but also a good flair. An experienced investor can invest in a new building with a return on investment 3-4 times.

Therefore, you need to carefully consider the purchase of such objects, carefully weighing all the pros and cons. You should take into account the possible risks so as not to lose money. At the first stages, it is better to seek advice from representatives of specialized companies who will help you to buy an object in a new building in Austria at a profit.

Off-plan real estate prices

Real estate prices vary greatly depending on the chosen object and location. To understand the order of prices, we present the average indicators for various objects.

  • An apartment with 2 bedrooms in the suburbs of Vienna costs from 230 thousand euros.
  • Penthouse near the center of the capital - from 560 thousand euros.
  • Spacious luxury apartments ranging from 200 square meters cost from 5.7 million euros
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