Country Guides
Austria
Buying property in Austria might not be to everyone's taste, but this Alpine idyll has much to commend it
This landlocked central European nation, often known as 'the heart of Europe' is renowned for its spectacular mountains, crystal-clear lakes and voluptuously green valleys. Austria's cities have plenty to recommend them to property buers with a striking blend of modern architecture, historic buildings, and continental charm. Austria boasts a strong artistic and musical tradition and its snowy peaks offer excellent winter sports.
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Austria country profile
Capital City: Vienna
Area: 83,858 sq km or 32,378 sq miles
Population: 8,022,300
Time Zone: GMT +1
Country dialing code: 43
Currency: Euro
Austria's climate
Austria enjoys a temperate, continental climate with cold winters and plenty of wet weather. Snow is to be found in the mountainous regions and occasionally in the lowlands. Summers are moderately warm with occasional showers.
Country highlights of Austria
As the capital city, Vienna boasts many of Austria's main attractions including the Albertina Art Gallery, the Belvedere Palaces, the Sigmund Freud Museum and St. Stephen's Cathedral. Known as 'the Rome of the North' because of its array of beautiful churches and charming old streets, Salzburg is a must for tourists. The Hohe Tauern National Park is one of the last great wilderness areas in Europe, immaculately preserved to showcase its natural beauty.
Accessibility
The most important international airport in Austria is located in Vienna which has connection to all major airports of the world. Flying time from London is approximately 2 hours and budget fares are readily available. Other international airports include Graz, Linz, Salzburg and Innsbruck which provide domestic flights as well as connections to some European countries. Those airports are particularly popular with cheap airlines such as Ryanair.
Permanent move to Austria
UK citizens need only a valid passport to enter Austria. EEA citizens are free to remain in the country for up to 90 days to look for work or set up a business. Europeans are required to register with their local aliens' administration office at the 'Polizei' or 'Gendarmarie-Wachzimmer' within three days of their arrival in Austria. If you intend to reside in Austria for more than three months you will need to apply for a residence permit EWR 'Lichtbildausweis'.
Buying property in Austria
Buying property in Austria has long been a popular activity for German and Italian second home buyers, but is increasingly of interest to Brits due, in part, to its growing accessibility via low cost airlines. Those thinking about buying property in Austria should be aware that the cost of living is among the highest in Europe. Property prices in Austria are still favourable to those in Britain, however, ranging from £60,000 for a studio apartment to £100,000 for a larger apartment. Detached homes start from £250,000.
Since joining the EU, Austria has been obliged to change laws that required foreigners buying property to obtain permission to buy from the local authority office, with restrictions on buying holiday homes in certain areas. Now property laws apply equally to Austrian and EU citizens. If you are thinking about buying property in Austria a deposit of l0% is usual but not necessary, returned if the sale falls through. A solicitor or lawyer handles the sale for both parties. The purchase agreement and the documents can be signed before an official at an Austrian embassy abroad and translated if required. When the contracts have been signed, the funds are deposited in a trustee account until completion occurs. The owner's details will be registered in the land registry and can take a few months and then the taxes and fees are paid by the solicitor and the agreed purchase price paid to the vendor.
Destination Hot Spots
Vienna
This sophisticated city, located in eastern Austria along the Danube is brimming with cosmopolitan charm and historic architecture. Modern developments have largely been designed in order to preserve the city's unique character. Prices reflect the city's status as one of Europe's most popular places to visit.
Salzburg
Altstadt, the Old Town of Salzburg, has many cultural monuments and interesting property opportunities. Two squares, the Residenzplatz and the Kapitelplatz surround it with many opportunities for those seeking to buy period property. The north of Salzburg is where the main residential areas are and property here is sought after by buyers, with modern homes situated close to the main train station.
Sportwelt Amade Region
This collection of alpine holiday resorts is a popular choice for skiers and snowboarders. Property can be pricey in the smarter areas but you can pick up a three bedroom apartment for around £100,000 if you're prepared to settle for something a little further from the slopes.
Innsbruck
As the only major city in the Alps, Innsbruck offers an attractive combination of culture, history and nature that you'd be pressed to find elsewhere. The area's 25 Village Resorts blend in perfectly with the alpine environment and offer excellent opportunities for winter sports and other peaceful relaxation.
Useful websites:
Austria Today
Everything you want to know about skiing in Austria
The Austrian Tourist Board
Article first published in May 2006 and updated in June 2007


