What do you think about real estate investments in Vienna?
Vienna, Austria is ranked as one of the world’s best cities to live in based on quality of life.
The Austrian real estate market, especially in Vienna, is very attractive to investors from all over the world. The rates for Vienna apartments are not as high as in New York (read more here) or London, and the overall trend in the quality of the property is rising from year to year. In this report we will define the investment process in the Viennese real estate market, the procedure and the conditions to be fulfilled in order to be successful in the real estate process.
Foreign real estate investments in Vienna. Is it simple?
Foreigners are not prohibited. Upon selection of a house from buying properties in Vienna and Austria. You need to make a formal offer in writing via a real estate agent when you come across a property to buy. A list of associated transaction costs such as legal fees, property transfer charges, registration duty, notary fees and real estate agent fees are added to the bid document.
When the seller accepts the bid, an Austrian solicitor/notary draws up a purchase agreement or contract of sale. Once the contract is signed, it may be assumed that the buyer must pay 10 percent of the purchase price as a deposit, which will be held in a trustee or escrow account until completion. Then, the lawyer must register details of the transfer at the local registry office as well as payment and registration duties.
The registration of land costs about 4.5 percent of the value of the property. It takes 9 to 32 days on average to complete the three procedures needed to register a property in Vienna.
Investment in real estate in Vienna: Is it safe?
An investment apartment purchase, also known as an investment apartment, turns financial assets into tangible property.
Your money in the bank is losing its value year by year. That is: You can buy less and less for the same money. You have invested in security with an investment apartment in Vienna. The growth and the specific housing situation of the past 15 years in Vienna show that: the increase in the value of real estate assets has constantly surpassed the inflation rate. What’s more, the rental income is also maintained thanks to an indexed income spending capacity.
Even if currencies falter, the value of the property will be maintained. We have come through the Euro-crisis with grace, economic analysts claim, and that is now behind us. With an investment in property in the attractive Viennese housing market, you are on the safe side one way or another. In any case, an investment apartment is up to you – a personal choice – as opposed to a sum of money in the bank.