Costs of selling real estate in Austria
Essential costs when selling real estate in Austria: A comprehensive guide for sellers
What are the costs of selling a property in Austria?
In principle, in Austria the main burden of the additional costs when buying/selling real estate, and that is about 10% of the purchase price, is borne by the BUYER and not the seller. We will now go through which costs typically affect the seller and which are negotiable:
Broker commission
Costs: 3.6% of the purchase price incl. VAT; negotiable.
Important: Only due on sale. Includes services such as price estimation, advertisements, customer inquiries, viewing appointments.
Details: If you commission an estate agent with the sale, you will normally be charged 3.6% of the purchase price including VAT. This is a matter of negotiation and many estate agents will be a little more accommodating in terms of price. Important: This commission is only paid in the event of a successful sale and covers all the estate agent's expenses and work such as price estimates, advertisements, customer/prospective buyer inquiries, viewing appointments, etc.
Energy certificate
Costs: From approx. 200 EURO.
Important: Must be presented in the advertisement or before the purchase contract is concluded. Normally paid by the seller, but can be passed on to the buyer by contract.
Details: You must actually hand over the energy certificate to the buyer in the advertisement or at the latest before the purchase contract is concluded. The costs for the energy certificate vary widely. However, some can be ordered on the Internet from around 200 EURO. These costs are usually borne by the seller. However, the purchase contract may stipulate that the costs must be reimbursed by the buyer or these costs may simply be included in the purchase price.
Purchase contract obligations
Costs: Variable depending on obligations (repairs, clearing out, decluttering).
Tip: Costs usually deducted from the purchase price; seller typically responsible.
Details: If you commit to improvements, repairs or clearing out and decluttering in the purchase contract, the costs will of course be incurred. However, these are usually simply deducted from the purchase price so that the buyer is responsible for all repairs. In practice, it is advisable to stipulate in the contract what is to remain or be removed and who will bear the costs (typically the seller), especially for clearing out and decluttering.
Notary and purchase contract
Costs: Notary, trustee, drawing up the purchase agreement.
Common: Escrow costs are often split between buyer and seller.
Details: The costs for the notary, trustee and drawing up the purchase contract can be passed on to the buyer by contract. However, it is common for the escrow costs to be split equally in the amount of a few hundred euros.
Real estate transfer tax
Note: Is usually paid by the buyer and is therefore not incurred by the seller.
Real estate income tax
Costs: 30% of the gain achieved; with exceptions.
Exception: No tax for main residence or reduced tax for properties acquired before 2002
Details: This tax is generally 30% of the gain realized. However, there are some exceptions and exemptions: The most important of these is if you have registered your main residence in the property sold for 5 years continuously in the last 10 years or 2 years continuously from the purchase of the property, then this tax does not apply. In addition, a reduced tax rate of only 4.2% of the purchase price applies to properties purchased before 2002.
Release from encumbrances in the land register
Costs: A few hundred EURO for the deletion of existing mortgages.
Responsible: Usually to be borne by the seller.
Details: For the deletion of existing mortgages on a loan by a trustee, costs of a few hundred euros are incurred. These are to be paid by the seller, as they are to be carried out in his interest.
Mortgage loan
Possible: Extra costs for early loan termination.
Tip: Consider whether a loan termination can be avoided in order to avoid additional costs.
Details: If you have taken out a fixed-interest loan or fixed-rate loan and have encumbered the property with a mortgage, you may have to expect extra costs for the early termination of the loan. The financing bank may charge a so-called early repayment penalty if it has suffered a loss of interest due to the early termination of the loan.
Our tip: You should therefore consider foregoing a loan repayment, which incurs additional costs and does not result in a higher sales price. Instead, use the loan for the next property to be financed after the property sale.
Every real estate sale is unique and requires an individual approach. For comprehensive advice tailored to your specific case, I recommend that you contact us.
Disclaimer: Please note that the information provided here does not constitute legal advice and I assume no liability for the accuracy, completeness or timeliness of this information.
Buying Real Estate in Kitzbühel
Kitzbühel is the most expensive real estate region in Austria due to its exceptional quality of life and beautiful natural surroundings. Find out more about buying real estate in Kitzbühel, Austria
Intro
Kitzbühel is the most expensive real estate region in Austria due to its exceptional quality of life and beautiful natural surroundings. Known for its annual Hahnenkamm ski races and Kitzbühl Open tennis tournament, the town of 8,500 offers residents year-round hiking and golfing opportunities, a historic old town, and easy access to nearby airports in Munich, Salzburg, and Innsbruck. The spectacular panoramic view of the surrounding mountains and nature is also a major draw for those who live or vacation there.
Kitzbühel Real Estate Market
The real estate market in Kitzbühel and neighboring villages is booming, with prices consistently rising due to high demand and limited supply. Properties in the area, mostly chalets and luxury chalet-style apartments, are sought after by buyers from Austria, Germany, the Netherlands, Switzerland, Belgium, Italy, and England, making Kitzbühel comparable to Swiss luxury ski resorts like St. Moritz, Davos, and Zermatt. The Kitzbühel region offers a larger selection of high-end properties than other Alpine regions, with prices ranging up to luxury chalets in the mid 8-digit range. The area also has the infrastructure and professionals needed to support luxury real estate transactions, including developers, lawyers, and local brokers who are familiar with the area.
Real Estate Prices in Kitzbühel
Kitzbühel's real estate prices have nearly doubled in the last 7-8 years, with prices in prime locations increasing even more:
Building plots in good locations can cost €6,000 per square meter and up to €10,000 per square meter for top locations.
Apartments range from €10,000 to €25,000 per square meter,
Chalets can cost around €30,000 to €35,000 per square meter. These high-end properties often come fully equipped with Italian designer furniture, high-quality materials, and amenities such as spa areas, pools, and garages. The prices for chalets start at around €5-6 million and can go up to tens of millions for larger properties.
Even properties that need refurbishment can fetch high prices, with prices up to €28,000 per square meter being reported.
Locations in and around Kitzbühel
The high real estate prices mentioned in Kitzbühel can also be found in neighboring towns such as Aurach, Jochberg, Going, Kirchberg, Oberndorf, Reith and St. Johann. These towns are in close proximity to Kitzbühel and offer similar price levels and locations. Reith is particularly popular as it is within walking distance and has similar prices to Kitzbühel. Other towns such as Aurach, Kirchberg and Jochberg have similar prices, while Oberndorf and St. Johann are slightly cheaper but farther away. Going is 20 minutes away by car and known for the Stanglwirt. As the demand for property in the region is high, prices are unlikely to decrease in the near future.
Interested?
There are over 150 real estate companies in the Kitzbühel region, many of which are real estate agents and brokers. We can assist you in your search by serving as a central contact person and working with numerous local brokers to find suitable properties and organize viewings in Kitzbühel and other nearby locations.
As a foreign buyer, every real estate transaction must be approved by the authorities, and in Tyrol they closely examine if the buyer meets all requirements. One of these requirements is a dedication as a secondary residence if the property will not be used as a primary residence for more than 180 days a year. We can also advise you on legal issues in cooperation with our lawyers.
Special Tip: Webinar
For more details and an in-depth analysis about real estate in Kitzbühel and other Austrian locations visit one of our webinars!
Webinar: Buying Real Estate in Austria
In a series of webinars, we provide advice and tips on the topic of "Real Estate in Austria" - especially from the perspective of a potential international buyer from abroad.
What are the advantages of buying real estate in Austria? Advantages, but also risks and disadvantages?
What is important when buying real estate in Austria?
Legal, tax and economic aspects
Costs & procedure of a real estate deal
Our recommendations for action
Our articles and webinars for international real estate buyers
Webinar: Top Real Estate Locations in Austria
In a series of webinars, we provide advice and tips on the topic of "Real Estate in Austria" - especially from the perspective of a potential international buyer from abroad.
In this webinar, we cover the most important real estate locations in Austria in an overview:
Vienna
Salzburg
Kitzbühel
Alpine Regions
Austrian Lakes
Southern Styria
Our articles and webinars for international real estate buyers
Webinar: Top Real Estate Locations in Austria
In a series of webinars, we provide advice and tips on the topic of "Real Estate in Austria" - especially from the perspective of a potential buyer from abroad.
In this webinar we cover an overview of the most important real estate locations in Austria:
Vienna
Salzburg
Kitzbühel
Alpine regions
Lakes in Austria
Southern Styria
Webinar: Buying Real Estate in Austria
In a series of webinars, we provide advice and tips on the topic of "Real Estate in Austria" - especially from the perspective of a potential buyer from abroad.
In this webinar, we'll cover the following topics in an overview:
What are the advantages of buying real estate in Austria? Advantages, but also risks and disadvantages?
What is important when buying real estate in Austria?
Legal, tax and economic aspects
Costs & process of a real estate deal
Our recommendations for action
Real Estate South Styria
Southern Styria has the nickname "southern Styrian Tuscany" and inspires more and more real estate buyers with its landscape, culinary delights and climate. See the visual impressions in this video:
Among the most popular places are:
Gamlitz
Ehrenhausen
Großklein
Leutschach
Kitzeck
Particularly desirable in this region are the properties, where you can enjoy the distant view, for example, from a country house on one of the hills. From time to time, a plot of land, a vineyard or a winery comes on the market. However, because there has been a strong buying boom in recent years, the supply of real estate is now not huge. So it's a case of constantly staying tuned and searching until something interesting comes in at some point.
If you want us to keep you informed, you can register with us as a SUNSET Member ' with your search criteria and be placed on our member distribution list.
In a series of articles we give advice and tips on the subject of "Real Estate in Austria" - especially from the perspective of a potential buyer from abroad. You can find more articles here '
