Buying ski property brings a host of benefits – a beautiful place to enjoy your own down-time, a ready rental market, and growing resorts with sound investment in infrastructure. Discovering a country that makes investment easy for international buyers makes things even more appealing.
Buying ski property in Austria means buying in a country that
- Offers a stable property market
- Supports sound rental yields
- Works within a (relatively) simple legal framework
Add in some of the most beautiful scenery you can imagine, a longstanding ski culture and a
sound focus on sustainability, and Austria could well be the perfect investment opportunity.
Sounds good? Read on to discover some key reasons investing in ski property in Austria is something to explore.
Austria has designated Tourist Residences that can be let out and used as holiday homes
If you want to buy in one of the key tourist spots, you’ll start your search by seeking out a “tourist residence”. This type of property is designated as being available for private and public use.
It’s worth noting that whilst EU citizens, and citizens of other EEA countries such as Switzerland can buy anywhere in Austria, citizens of other countries are restricted from buying in Tyrol, Voralburg and Salzburgerland. Non-EU/EEA citizens should train their attention on properties in Carinthia and Styria as well as Upper and Lower Austria.
Wherever you choose to buy, there are various aspects to consider when buying investment ski property in Austria.
You can work with a rental management agency
The majority of Tourist Residences are in new-build developments, and the majority of these projects use a designated rental management company to oversee all the apartments in the property. When you buy you will sign an agreement with the agency – usually for a period of 10-25 years. In return for a commission of between 20 and 30% of the rental yield your rental management agency will
- Market your property
- Manage bookings
- Take care of guests on site
- Take care of cleaning
- Take care of maintenance
- Deliver regular reports to owners
You could receive a guaranteed rental yield
Your rental yield will be described in detail by your rental management agency and include information about things like occupancy levels and outgoings. Some projects offer a guaranteed rental yield and while this is usually at the lower end of the expected 3-6% yield, it does offer a reliable level of income.
Other properties may deliver yield on a pool basis – bringing together earnings from all apartments and redistributing them equally between each owner, in proportion with the original purchase price.
You can use your Austrian ski property for up to 8 weeks a year as well as last minute breaks
One of the best things about owning a ski property is being able to enjoy your very own piece of the mountains – and this is something to really look forward to. Like many other resorts, Austrian ski resorts place restrictions on private use, to ensure a steady tourist income and allow the resort to thrive.
- You can usually use your property for between four and eight weeks each year
- You may also be able to book last minute stays
- Use may be restricted at particular times of year
If you are looking to buy your ski property in Austria that will offer a great holiday home too, then it’s important to understand these restrictions from the outset. They’ll be clearly laid out as part of the rental management agreement.
You’ll pay tax - but maybe not as much as you think
As an international buyer you’ll pay tax on your Austrian ski property. The good news is that by investing in a designated tourist residence you can save quite a lot on these taxes
- VATVAT is charged at 20% on new developments but because you’re a valuable part of the tourist economy, you can reclaim a significant amount of this for the periods of time when your apartment is available to rent.As a rule, you’ll pay the full amount of VAT at purchase, and reclaim through the first few months of ownership. This being investor friendly Austria though, some developers offer a system where buyers have minimal initial outlay for VAT – sometimes as little as 1 or 2%
- Income taxYou will pay income tax every year, but again a significant portion of this can be offset by various schemes including a write-off for rental system and a reduction in mortgage interest.
Buying ski property in Austria
To find your ideal ski property in Austria simply register your interest on our property alert system. SnowOnly is a property portal, which means we have access to thousands of homes worldwide. You can create a detailed search profile, and receive regular updates when your ideal property becomes available, so you’ll never miss out on the chance to buy your ideal ski property in Austria.