What are the different property types of property in Austria?
There are three different types of property in Austria.
- Hauptwohnsitz or main residence . These properties cannot be rented out to tourists for holiday lets and therefore tend to command lower prices per m2 than a similar ‘toursism’ property. These are generally sought by local buyers or foreigners looking too move permanently too Austria.
- Touristische Vermietung or touristic rental properties are the most sought after by foreign buyers and investors. These often come with designated professional rental management and hotel style facilities such as restaurants, bars, swimming pools and wellness areas.
Owners will be typically be limited to 4-8 weeks personal use each year and must rent out their apartment for the remainder of the time and make a profit for VAT purposes.
- Zweitwohnsitz or second home. They can be used as pure ‘second homes’ by their owners who are free to use their property as a private second home and visit as much or as little as they wish.
These Zweitwohnsitz properties are incredibly rare as there are strict rules against them since 1969. New Zweitwohnsitz properties are only allowed in designated areas that are deemed undesirable for main residence due to the distance to facilities such as schools, shops etc.