The capital of Austria is so good that its real estate is steadily popular even in crisis times. The city, which was once the capital of the Austrian-Hungarian Empire, is amazing today with luxury and splendor. St. Stefan’s Cathedral, Schenbrunn Palace, Medieval Fortress Hofburg and the Kapucin Church – all this is only a small fraction of the attractions of the vein known for the whole world.
It is not surprising that real estate in Vienna is very in demand from buyers from various countries of the world. Moreover, only a third of them buy housing for their own residence, two -thirds acquire real estate here as investments. The main advantages of veins that attract non-resident investors are the central location of the city in Europe, the stability of the economy and transparent legislation. In addition, the capital of Austria is distinguished by a very convenient car, air – and railway posts.
Vienna is an old European city, and its development has been formed for centuries. Even now, houses in the central part of the city look as pompous as several centuries ago. Residential real estate in Vienna is mainly secondary housing, the cost of which depends on the area of the location and quality of the property.
The average price of an apartment in Vienna with an area of 85 square meters. m. – 230 thousand euros. But it is quite possible to find a suitable apartment and up to 80 thousand. The city is divided into 23 districts. The first 9 – are considered central, and the average cost per square meter here starts from a mark of 3 thousand euros. The cost of a meter in penthouses can reach 10 thousand euros. Of the other areas, the 13th, 16th, 18th and 19th are considered the most popular. In these areas, the price of a “square” begins with 4-4.5 thousand euros.
The most noticeably expensive apartments in the center of the Austrian capital, but outsiders for price growth are land plots for construction. Real estate prices in Vienna over the past 5 years have increased by 39%. Separate areas can boast of price growth in the amount of 44% or 72% (Wieden).
The peculiarity of Viennese real estate is that most of the residential areas belong to investment organizations (insurance companies and pension funds), which rarely put up for sale, preferring to rent real estate.
The primary housing market is very little and almost all projects are located on the periphery. The central part of the city is built up very limited and can demonstrate only single examples of new buildings. Demand for new housing in Vienna is very high, 70% of apartments in the complexes under construction are sold out at the construction stage, before the start of open sales.
Buying real estate in Vienna non -resident is not so simple. CIS citizens can make a transaction only after receiving the permission of state bodies in the corresponding area of Austria. It may take from 2 to 5 months to coordinate all points and signing a permit. You can accelerate and simplify the process by applying for an organization or legal entity.
Real estate costs in Vienna will be:
tax on transfer of ownership – 3.5% of the value of the object;
commission realtors – 1.5-2%;
registration fee – 1%;
notarial collection – 120 euros;
Services of lawyers accompanying the transaction will cost 1-3% of the selling value of real estate.