What are the taxes and other costs when buying a property in Austria?
The costs of buying a property in Austria are covered by the buyer, and calculated as a percentage of the gross purchase price. There is a property purchase tax (stamp duty) of 3,5%, land registry tax (1,1%), agency fees (3% + VAT) and legal/notary fees (generally around 2% + VAT). There are some other minor out of pocket expenses. The commission of 3% + VAT is market standard, but can be waived in some new built properties. When buying a new property in Austria, you must also pay VAT. However, if it’s used for rental purposes part or the whole amount of the VAT could be claimed back.