Real Estate Transactions in Austria
Real estate transactions in Austria are regulated at the state level. Each federal state has its own and quite different legal regulations, which govern, for example, the acquisition of ownership and the obligation to obtain approval for certain properties. The various applications, for example for a permit, must be submitted to the responsible real estate transaction authority.
Types of Real Estate Transactions
Green Real Estate Transactions
Green real estate transactions regulate transactions involving agricultural and forestry land. In many federal states, the preservation of agricultural and forestry is particularly important, which is why there are some restrictions on acquisition.
Gray Real Estate Transactions
Gray real estate transactions regulate transactions involving building plots. In some federal states, there are so-called reserved municipalities. These are municipalities with a particularly high number of secondary residences. Here, there are again special regulations to reduce the high prices and the many holiday apartments.
Real Estate Transactions Involving Foreigners
The acquisition of land by foreigners in Austria requires official approval. Nationals of the member states of the European Union (EU) and the European Economic Area (EEA) are exempt from this regulation. A foreigner is therefore any non-EU and non-EEA citizen.
