New Austrian Property Law – Salzburgerland
This month the Austrian authorities have introduced a new Austrian property law in Salzburgerland which will have a huge impact on the ever-increasing value of Austrian ‘second-home status’ properties. Alpine Marketing currently have a good selection of second homes for sale and if ever there was a time to snap one of these rare-status properties up, it is now.
How it Works
Most holiday homes in Austria are obliged to be rented when their owners are not using them. This is because the tourism industry forms an important part of Austria’s economy and accounts for over 15% of its GDP. Because of this, the Austrian government does not want chalet owners to leave their properties empty for large parts of the year. Depending on which property you buy there are several rental options; using a large, professionally managed tour operator or renting your property yourself. Filling Austrian properties with holidaymakers is essential for a good tourism flow in the villages – advantaging owners in turn by keeping their property value high. To learn more about current Austrian rental obligations have a read of our buyer’s guide.
Second homes for SaleSecond Home properties have a very special status which allows owners to do whatever they like with their home. They can use it as their primary residence, they can rent it out, or they can choose leave it empty… This type of property is also available for non-EU citizens to buy. Property of this type is extremely rare in Austria and is unheard of in the desirable Tyrol and Vorarlberg Provinces.
How it is Set to Change
From the 1st Jan 2018 however this is all set to change in the Salzburg Province. The number of second-homes for sale in Salzburgerland will be restricted. Municipalities with more than 16% of existing second-home properties will not be allowed to permit any more projects with second-home use. This means that the existing second-home status properties for sale in Salzburgerland are part of the precious few that will ever be built.
So, What Does This Mean?
With provincial law-enforcement tightening throughout the whole of Austria, the future looks good for second-home status properties country-wide. The existing second homes for sale in Salzburgerland are sure to steeply rise in value as as result. Therefore, there has never been a better time to buy a second-home status property and it’s our mission to ensure that our portfolio is filled with the best in Austria.