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 purchase tax (stamp duty) of 3,5%
- Land registry tax (1,1%)
- Agency fees (3% + VAT). This is market standard, but can sometimes be waived for some new build properties.
- Legal / notary fees (generally around 2% + VAT)
- VAT - This is applicable for new build properties, but if the property is then used for rental purposes, part of the whole mount of VAT can be claimed back.