Besides the price itself, buying property in Austria can incur a significant amount of taxes and fees. Make sure you know what they are before committing to any purchase.
Potential buyers need to keep in mind the following taxes when setting their budgets:
The capital gains tax is only applicable if a property is sold within 10 years of purchase for a profit. Sellers who have used the property as a primary residence of who have owned the property for over 10 years are exempt from paying the tax.
Besides tax, you will also have to pay a range of fees on your property purchase. These include:
Financing can be obtained in Austria regardless of citizenship. Banks usually finance 70% of a property's value for 20 or 30 years - buyers can suggest to the bank the duration of their mortgages. Interest charges range from 2.85% to 3.5% (2011).
Banks offer monthly or quarterly repayments, and it's also possible to pay off the mortgage early.