What are the taxes and other costs when buying a property in Austria?
The costs of buying a ski property in Austria are covered by the buyer, and calculated as a percentage of the gross purchase price. The key costs tend to be roughly as follows:
- Property transfer tax ("Grunderwerbsteuer") - 3,5%
- Land Registry tax ("Grundbuchseintragungsgebühr") - 1,1%
- Buyer's commission - 3%+VAT
This is market standard, but can sometimes be waived for some new build properties.
- Legal / Notary fees - around 2%+ VAT
- VAT - 20%
This is applicable for new build properties, but if the property is used for rental purposes, part of the whole mount of VAT can be claimed back.