Real Estate Purchase in Austria

In the current uncertain global economic climate, many have decided to secure their savings by purchasing real estate in Austria. In this article, our lawyer specializing in Austrian property transactions has compiled the most important information.

Can I buy property in Austria as a Hungarian citizen?

As an EU citizen, you can generally purchase property in Austria without restriction (regulations vary by province, so it is always necessary to examine local laws). In the case of agricultural properties, the acquisition rules differ from one province to another.

What is the process of buying property?

The first step is selecting a property and exploring the real estate market. Since sellers usually require a written offer, it may be wise to seek legal assistance even before making an offer. During the first consultation, our lawyers will request the title deed, a map extract, and look into all relevant information about the property. It’s important to verify whether the property can be rented out and what purposes it may be used for.

Next, a roadmap is set up together, and we discuss tax-related and other legal questions regarding the property purchase.
After that, the purchase contract is prepared. This contract must be drawn up by a lawyer or a notary. If you use a lawyer, it is sufficient for the notary to only certify the parties’ signatures, which is significantly less expensive than having the notary draft the entire contract.

What are the costs involved?

Why choose NZP?

• The entire transaction can be handled digitally (no travel expenses required).
• If requested, the contract can be prepared in a bilingual version, and we provide full assistance in Hungarian. This ensures you receive clear answers to all your questions in your native language.
• We offer years of experience in cross-border real estate transactions.