August 8th, 2007 by Ines
Euroburo Ltd does not sell property - it advertises properties for sale by estate agents in Austria and other countries. Delta Immobilien GmbH www.deltaimmo.com is based in Bad Ischl about 40 minutes drive to the east of Salzburg and is run by members of our family. Half the directors at Delta Immobilien GmbH are Austrian and the others are from the UK. All of them speak German and English fluently. This means that we are in the unique position to help you as there is nothing there that we cannot handle on a professional basis in either language. As far as we are aware, we are the only company offering property for sale there with this kind of professional set-up.
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August 8th, 2007 by Ines
The Austrian Property Market
In considering an overview of real estate in Austria, the most striking fact associated with real property in that country is the fact that overall the costs associated with real estate in Austria is higher than any other country in Europe. In addition, the cost of living in Austria generally is higher than any other country in Europe at the present time.
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August 8th, 2007 by Ines
Until now, few property buyers have considered Austria. A reason for its unpopularity could have been the restrictions on foreign property ownership, yet joining the EU in 1995 saw these laws lifted.
Austria, with a population of only eight million, is by no means crowded and has a stable property market. In the heart of Europe, it contains gorgeous cities, such as Vienna and Salzburg, the latter being the birthplace of Mozart and home of The Sound of Music. Austria’s central location means that other fab cities outside the country, like Prague and Venice, are nearby.
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August 8th, 2007 by Ines
omplicated pro-tenant rental market
Austrian law is mildly tenant-friendly, with rent control at somewhat below free-market levels. Tenants can appeal to a rent tribunal even after they have left the apartment, and reclaim rent ‘overpaid’. However with new rentals, the difference between what the rent tribunal would assess and free market prices is very small.
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August 8th, 2007 by Ines
In considering an overview of real estate in Austria, the most striking fact associated with real property in that country is the fact that overall the costs associated with real estate in Austria is higher than any other country in Europe. In addition, the cost of living in Austria generally is higher than any other country in Europe at the present time.
To read the whole text, click here.
August 8th, 2007 by Ines
The main factor pushing ahead the commercial real estate market in Austria in the recent years is the fact that this small country of 8 million became a member of the European Union of 370 million*. Beginning in January 1999 the country also became a member of the Economic and monetary union of the EU. That means that Austria entered the internal circle of the EU (Eurozone) where countries from 2002 will share common monetary unit - EURO and where even today they have common bank interests set by the European Central Bank.
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August 8th, 2007 by Ines
Income Tax
Non-residents earning income in Austria are subject to “limited tax liability” where only their income sourced in the country is taxed (this includes rental income). Married couples are taxed separately. Rates applicable are:
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August 8th, 2007 by Ines
Austrian residents are subject to unlimited tax liability, where their world-wide income will be subject to Austrian taxation (of course in deference to tax treaties). The same tax rates shown in ‘Taxes and Costs’ will apply to residents’ income. Married couples are taxed separately.
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August 8th, 2007 by Ines
The Austrian housing market has finally shown signs of life.
The residential property price index for Vienna rose by 6.7% for the year, and that for Austria as a whole rose 4.8%. In nominal terms, prices are about at the same level as at the previous peak in 1994 – but of course in real terms they have declined very significantly.
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August 8th, 2007 by Ines
Foreign residents mainly consist of Germans and some Italians, with the principle language being German.
Capital gains made by residents are taxed as ordinary income at 34%. Your principal home will be exempt unless you sell within five years. All property is exempt after 10 years.
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