Austria for living - pros and cons

Buying property in Austria: what are the advantages

Over the last 1.5-2 years, we've seen an increasing demand for residential and commercial real estate in Austria. And this is not surprising, because Austria is one of the most stable countries in Europe. There are modern infrastructure, comfortable conditions for education and business, a variety of natural landscapes and good ecology.

The standard of living in the Republic of Austria is really high. According to the international consulting company Mercer, the capital of Austria, Vienna, took again the first place in the list of the most comfortable cities to live in. The city is considered to be the best in 39 indicators, among which there are the social standard of living, political stability, the level of cultural development, education, healthcare, attractiveness for business, and transport accessibility.

Austria is known not only for its economic and social stability and first-class living standards, it is unique because of its geographical location in the heart of Europe and a high level of culture and art. All these features attract investors from different countries who consider real estate in Vienna and Austria as one of the most reliable investments.

"My husband and I bought real estate in one of the respectable districts of Vienna almost four years ago. First, we entrusted the management of our property to a specialized agency and received a good income. And two years later, they decided to live in Vienna by ourselves, because the question of choosing a university for our daughter arose. Now we spend most of the year in the Austrian capital, as we have a residence permit under the program for financially independent individuals. During this time, we've had enough opportunities to get to know the realities of local life. And I can say that there are many more pluses than minuses. We feel comfortable and safe here. And the ability to easily visit neighboring countries is one of the nice bonuses. We've visited at quite a few cities in Italy, Hungary, and the Czech Republic", - says Elena Ivanteeva.

Living in Austria: Benefits

First of all, let's consider the advantages of Austria.

Climate and weather in Austria

The country is at the intersection of two climatic zones. In the south and southeast, the climate is continental, in the west - more humid. It is comfortable here in any of the seasons: in the summer you can bask in the sun, and from December to February enjoy a pleasant European winter. At the same time, the presence of different natural landscapes allows you to plan quality vacations and travels without leaving the country. In the warmer months, the surrounding palaces, lakes and parks with picnic areas await you. In the winter you can spend time in a lot of ski resorts with developed infrastructure.

Geographical position of Austria

The location of Austria on the map can be called advantageous. The state is located in the center of Europe. It borders with Hungary and Slovakia on the east, and with Italy and Slovenia on the south. On the west it borders with Liechtenstein and Switzerland, and on the north, with Germany and the Czech Republic. So real estate with a residence permit in Austria is not only a reliable investment, but also a way to easily travel to neighboring developed countries.

Ecology of Austria

You may not have known about this, but in Austria you can drink water directly from the tap. The country is famous for its good ecology and clean air. The natural landscape plays a significant role in this - most of the state's territory is occupied by the Alps and their foothills. In every Austrian city and its environs there are enough green areas and flowering parks. It is especially important to mention the environmentally friendly disposal of household waste with forest biowaste. The environmental situation in the country can be considered exemplary. Of course, this is one of the advantages of living in Austria.

Developed infrastructure in Austria

Austria is a country with first-class service and quality infrastructure for living and recreation. Vienna has a well-developed public transport system. Zoning of the urban space is planned in such a way that social institutions, including hospitals and schools, as well as entertainment ones - cafes and restaurants, small shops and shopping centers - are all located conveniently, everywhere you can quickly and easily get by public transport. The city is also comfortable for motorists, a large number of underground garages and overground parking are provided. Austrian autobahns allow you to comfortably and quickly get to anywhere in the country and beyond. A developed network of Austrian railways and modern high-speed trains allow you to travel comfortably without a car. If you buy property in Vienna or other cities, feel free to count on a variety of leisure activities at any time of the year. Dozens of kilometers of snow trails in ski resorts, many thermal complexes with spa treatments, as well as park areas for picnics and hiking.

Education in Austria

Primary and secondary education is considered one of the highest quality in Europe. And diplomas of higher education institutions are appreciated all over the world. Most Vienna universities are included in the top 100 world universities, and some of the specialties occupy leading positions in the world ranking.

Universities in Vienna, the capital of Austria:

• University of Vienna
• Vienna University of Economics
• Technical University of Vienna
• University of Music and Performing Arts
• Agricultural University
• University of Applied Arts
• Academy of Fine Arts
• Medical University of Vienna
• University of Veterinary Medicine
• Webster University
• University MODUL
• Sigmund Freud University

Medicine in Austria

As in any developed state, the health care system in Austria has a high level of medical care. The health of the country's population is being considered at the governmental level, so the infrastructure is designed for all citizens of the country. Of course, it is necessary to have medical insurance for each family member. All processes are automated: one of the first countries in Europe, Austria has introduced a control system and electronic medical care.

Work and business in Austria

Today in the country there are favorable conditions for finding a well-paid job, as well as for business development. So labor migration is not uncommon. In your first year of work in Austria, you already can expect a salary of 2,000 euros per month. Of course, narrow specialists and top managers have an average monthly income of 2-4 times more. The work week lasts an average of 38.5 hours. And all extra hours are additionally paid. As for business, in Austria there are many programs to support and develop your own company.

Benefits of business in Austria:

• Recognition of Austrian resident companies in the global market
• The presence of highly qualified specialists in the country
• Affordable company registration system
• Opening an account in a European bank
• The presence of a developed network of neighboring states for partnership
• Obtaining a residence permit in Austria as soon as possible

Capital Preservation

3% per annum is the basic return on real estate in Austria. Given the stability of the local economy, real estate in Vienna and other cities of the country is considered a reliable investment. Someone is considering purchasing property in Austria for relocation. For others, this is an opportunity to profitably invest in foreign real estate."As the housing price index shows according to the Austrian National Bank Oesterreichische Nationalbank, housing in Vienna over the past 10 years has risen in price by 70.7%. According to the site Immopreise.at, a square meter in the city costs 4,000-11,000 euros. Vienna's market is similar to Berlin: here 80% of residents rent apartments and international investors are actively buying up local real estate for rent. It is very likely that mortgage rates in Austria will remain low (at the moment you can get from 0.7% to 1.5%) and demand will continue to exceed supply, so you can expect real estate prices in Vienna to continue growing" - notes Forbes.

Vienna is a city for life

According to data from March 2019, Vienna for the tenth consecutive year took the first place in the ranking of the best cities for life. The rating was presented by the international consulting company Mercer. The second place occupy Zurich in Switzerland, in third place belongs Canadian Vancouver.

In total, 231 cities were included in the rating, of which two were Russian - Moscow and St. Petersburg. They took 167th and 174th places. Baghdad was on the last line.

"When compiling the rating, Mercer took into account several factors, including transport infrastructure, medicine, education, as well as the socio-cultural, economic and political environment in these cities. Mercer also analyzed the personal safety of city dwellers, crime rates, press freedom, restrictions on personal freedoms and the work of law enforcement agencies. Luxembourg headed the personal safety rating, Helsinki took the second place, Swiss Basel took the third. The last two places were taken by Damascus and Bangui, the capital of the Central African Republic", the TV Rain channel reports.

What can also be attributed to the advantages of living in Austria

There are very many advantages of living in the Republic of Austria. We will name some of the most important, in our opinion:

• Many architectural and cultural attractions
• Sustainable economic situation in the country
• Financial stability
• Developed transport network
• Security and low crime rates
• Free movement to other EU countries
• A well-thought-out system for applying for a residence permit in Austria with the possibility of subsequent obtaining permanent residence and citizenship