As of the beginning of 2023, the activity of Russian-speaking property buyers in various foreign countries has more than doubled compared to activity levels at the beginning of 2022.
For travelers, food can make or break a city; the more culinary options there are in a city, the more enticing a destination it will be among tourists and expats. Toward this end, a team of analysts at international real estate brokerage Tranio have conducted a survey on food outlet penetration across major European cities, taking into account the housing prices and quality-of-life rankings.
In Europe, no law prohibits foreign citizens from buying property but certain countries have put limitations on this right.
Property expenses in Austria are not particularly high in comparison to other European countries. Essential charges include utilities and taxes while repairs, renovation and insurance depend on the owner’s budget.
Austria is known for its economic and political stability, which makes it one of the safest countries in the world for property investment.
Tranio conducted its eighth annual survey, analysing the investment and property purchasing patterns of Russian and CIS nationals abroad. The survey was primarily focussed on income property, looking at the top locations for investment, yield expectations, budgets, and preferred asset classes, as well as the general presence of Russian-speaking investors in local markets.
Tranio client Olga’s second property purchase abroad is an apartment in the town of Styria, located in the municipality of Bad Gleichenberg, Austria. She considered properties in Miami and Berlin but eventually settled on Austria, where she already owns an apartment. How did a small Austrian resort town captivate her?
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There is no unified procedure for property acquisition in Austria. Each federal state and municipality has its own rules and regulations. Nearly everything is different, from the treatment of foreign buyers to registration fees with Land Register (Grundbuch).
Austria is part of the Schengen area so non-EU citizens must have a visa or residence permit. The main rules on immigration in Austria can be found in the Settlement and Residence Act (Niederlassungs und Aufenthaltsgesetz).
Austria is famous for the quality of its secondary and higher education systems. Every year more than 160,000 international students are educated in the country. Most of them come to Austria study in Vienna.
Austria offers some of the most favourable mortgage terms in Europe. However, it bears noting that loans are not universally accessible to foreign citizens as many federal states have established restrictions with respect to foreign buyers.
Real estate investment funds have an influential impact on property markets around the world. In this article, Tranio expert Yulia Kozhevnikova explains how they work.