Real Estate in Austria

• • All fees are regulated by the government so that you know exactly what you have to pay.
• • Property is almost always Freehold Title - but it is possible to find leasehold titles if you look hard.
• • Once a formal offer is made and accepted it is binding on both parties so you will not be out bid later.
• • Austria has clear regulations on the role of your Estate Agent and Notary.
• • A Notary undertakes the work that a conveyancing solicitor would in the own country.

Austria is a member of the EEC.

Prior to membership of the EEC there were numerous local council rules that often prevented foreigners from buying property.

Whilst these rules no longer apply to European citizens many councils still prefer their approval to be sought by the appropriate "Grundverkehrsbehörde" - part of the local council.

Whilst arguably such approval is no longer required it is best to be courteous and have your Lawyer comply. Remember that most towns are very small and the local major is someone you would like to keep on Good terms with.

Apart from these considerations EEC citizens will find buying property in Austria orderly, efficient and quick.

If you are not an EEC citizen you may still buy property in Austria but only with the express approval of the "Grundverkehrsbehörde" - part of the local council. The procedure is basically to find a property, place a formal offer via your Estate Agent after which an approach to the council is made.