Many clients ask about Inheritance tax in Austria, when it comes to property and passing onto their family..particularly how does it compare to the UK? Well, technically there is No inheritance tax. Since August 2008 the inheritance tax in Austria had been abolished. But when a property is gifted to someone in a will, it […]
Following the devastating floods in Lower Austria, twelve villages and areas were still inaccessible or difficult to reach on Friday, announced Deputy Governor Stephan Pernkopf (ÖVP). 68,000 emergency services – including from all other federal states – had been deployed over the past few days. “Relaxation yes, all-clear no”, emphasized Pernkopf. “That’s why many districts […]
Renting in Austria Many people need to rent when they take a job in Austria for a few years, particularly the City of Vienna. So to give some examples of what is involved: When the fixed-term rental contract expires, these are Generally for 3 years. Looking for a new apartment at short notice is not […]
All over Europe there is discussion about bringing back military service by conscription. Is there conscription in Austria?…simply yes, but there are choices. The compulsory alternative community service was introduced under the Kreisky II cabinet in 1975 due to pressure by pacifist groups. The military was pleased by the development, because it led to fewer […]
Rent or Buy. Due to the enormous increase in interest rates since mid-2022, it is currently better to rent than to buy in Austria’s largest cities. The first interest rate cut by the European Central Bank (ECB) in eight years is finally expected on Thursday. Previously, after a long period of zero interest rates from […]
Fewer new apartments: “The supply won’t be large for much longer” Fewer homes will be built in the coming years – this is prompting the real estate industry, which fears a supply gap. The construction cranes that have been turning in many conurbations in recent years have slowed down quite a bit. Less is being […]
Two year exemption on property registration fees With the new government exemption, Property buyers can save up to €11,500 euros on land register and lien registration fees. The property value limit for the exemption is up to €500.000, This is a very good inducement for first time buyers particularly to get on the property ladder. […]
The property market collapsed in 2023 Austria Apartments prices fall. Significantly fewer apartments were sold across Austria in the previous year. Prices also fell overall, in Vienna by 5.6 percent. After years of boom, the wind has changed on the housing market due to higher interest rates and stricter lending rules. This is also reflected […]
Neos demand no to an Austria “Exit” The British have done it. The Austrians could do it too. At least in theory. By leaving the EU. At least there is one person who would like to, according to a recent survey: FPÖ leader Herbert Kickl. The Neos want all parties to commit to not holding […]
Austria has the second-highest part-time employment rate in the EU. The labour force participation of older people is below the EU average. Austria’s labour market is confronted with several structural challenges: The population is growing, especially among the over-65s, while the number of people in employment is stagnating. At the same time, the labour force […]
