Introduction -
Austria benefits from a mixture of snow and sunshine, mountains and valleys with
pure glacial water for beachside recreation in the summer and picturesque beauty
in the cold winters. The temperate climate of Austria attracts expatriates,
investors in holiday home property and people seeking second homes in a
relaxing, temperate alpine climate. An ancient country with friendly population
of eight million people who have welcomed tourists for decades and who have
benefited from a mature economic, political and social stability since WW2. A
member of the EU since 1995, Austria has a stable economy and a mature holiday
home market, with a mixture of ski chalet and log cabin properties in the
mountains to urban modern apartments in the major cities like Salzburg. There
are excellent transport links in, out and around Austria, with low cost flights
from the UK and an integrated railway system. The States of Austria are
Burgenland, Carinthia, Lower Austria, Salzburg, Styria, Tyrol, Upper Austria,
Vienna and Vorarlberg.
Buying Austrian Property - What Items Should You Budget For? - It is
normal and expected practice to put down a deposit of 10% of the agreed price
(similar to the UK), which is refunded able is no legal contracts have yet been
exchanged. In order to purchase an Austrian holiday home you will need to incur
not just the asking price but other incidental costs such as property transfer
tax @ 3.5%, notary fees @ 4%, land registration @ 1% and stamp duty of 1%. You
should also budget for any loss due to currency fluctuations when you transfer
funds in preparation of buying the property. The are other minor costs such as
the cost of translating any legal documents involved, estate agents fees. If you
are planning a holiday let you will also have to pay the local council (Gemeinde),
a tourist tax of 30 Euros a month in holiday seasons.
Austrian Holiday Home Insurance - to protect your investment Assetsure can
assist you in obtaining comprehensive buildings and contents insurance for your
new overseas property investment. Austrian insurance risks are broadly similar
to those of its neighbours with similar harsh wintery climates. When you speak
to an advisor try and make sure you have all available information to hand to
obtain an instant quote. Items might include the material of the property, does
it reside in a known flood plain, et. In addition the advisor will want to know
the planned usage of the property - if it will remain empty and unoccupied as a
second holiday home, for how long/, will tenants be moving in and for what
period sof the year, are you using a letting agent? etc.
So if you are seeking an holiday home insurance quote for a property in cities
like Vienna, Salzburg or Innsbruck, why not see if we can help? In
addition, Assetsure provide overseas property insurance and holiday home
insurance for other countries including Australia, Austria, Belgium, Bulgaria,
Brazil, Canada, Cape Verde, Chile, Croatia, Cyprus, Czech Republic, Denmark,
Estonia, Finland, France, Germany, Greece, Egypt, Hungary, Iceland,
Ireland, Italy, Latvia, Lithuania, Liechtenstein, Luxembourg, Malta, Monaco,
Montenegro, Morocco, Netherlands, New Zealand, Norway, Poland, Portugal,
Romania, Slovakia, Slovenia, South Africa, Spain, Sweden, Switzerland,
Thailand, Turkey, United Arab Emirates, United Kingdom (UK) and Venezuela.
