The Austrian property market offers more options to a variety of investors. It continues to be an ideal second home choice for many property buyers, offering excellent accommodations, attractions and a good cost of living.
Additionally, overseas investors looking for buy to let opportunities see profit in Austria as well. Property prices here are cheap. More so, the holiday rental market is high, with EU holiday seekers readily looking for affordable options. A demand is in place for many of the country's ski resorts areas and other tourism based areas.
According to reports, Austria property prices are continuing to rise, at the rate of six to seven per cent per year. Another reason that many are seeking to purchase property here is the ability to take advantage of capital gains tax relief of 50 per cent if they buy and hold their property for ten years or more.
Foreign investors are also seeing Austria as a prime location for investment funds to be moved to. The country continues to see improvements in the economy as well, which is likely to drive more interest to investors here.
Many feel that the Austrian economy and property market will suffer the same consequences of those seen in other European Union countries should a slowdown become full scale. Still, growth here is likely.
