Ancillary costs when purchasing apartments and property
Caution
These rules apply to all those who purchase property or apartments in Austria.
- Financial assessment
- Agent commission
- Real estate transfer tax
- Land register fee
- Lawyer or notary fees
- Signature certification fees
- Further links
- Legal basis
Financial assessment
For the purposes of estimating housing expenditure as a proportion of the household budget, the general rule of thumb is that the apartment should not cost more than one third of your net income.
More detailed information on the subject ‘Loans‘ can also be found at oesterreich.gv.at.
Agent commission
As a rule, both the buyer and the seller of the apartment or property must pay a commission for mediating a purchase agreement, which is negotiable.
The maximum commission for buyers and sellers is calculated on the basis of the purchase price:
| Value | Commission |
|---|---|
| up to 36.336,42 Euro | four percent of the value |
| 36.336,43 Euro to 48.448,51 Euro | 1.453,46 Euro |
| from 48.448,52 Euro | three percent of the value |
The current statutory VAT of 20 percent is to be added to these commission amounts. The aforementioned amounts represent upper limits, but are not ‘official fixed prices’. They do not apply to investments.
Advice
In Austria, a ‘property trustee’ (= developer, estate agent, property manager) is a regulated profession, the relevant qualification is required to practice it. This professional group is subject to comprehensive disclosure and information obligations towards its customers, which are even more comprehensive in the area of consumer protection. Further information on entering the profession and the professional ethics of property trustees fcan be found on the website of the Austrian Chambers of Commerce (WKO).
Real estate transfer tax
In principle, real estate transfer tax amounts to 3.5 % of the purchase price. Detailed information on the real estate transfer taxGerman text can be found at usp.gv.at.
Land register fee
A fee of 1.1 percent of the purchase price is to be paid for entering the ownership title in the land register (registration). If you intend to mortgage the object of purchase, a further 1.2 percent of the value of the right of pledge is due for its entry in the land register. On top of this is the registration fee of 47 Euro, or 66 Euro if the application is not submitted electronicallyGerman text. The loan is settled through the relevant financial institution at the customary bank fees.
Advice
If the fee is paid by direct debit or collection when entering ownership titles in the land register for the purpose of acquiring ownership, this is reduced by 23 Euro.
Further information on ‘land register entry’ can also be found at oesterreich.gv.at.
Lawyer or notary fees
As the purchase agreement is generally drawn up by a lawyer or a notary, who also submits the application for entry of the ownership title in the land register (registration), the buyer must budget for additional costs. The lawyer or notary fees amount to approximately 1-3 percent of the purchase price and are fixed in line with the fee schedules of the respective chambers. It is also possible to agree on a flat-rate fee.
Signature certification fees
Signatures affixed to the purchase agreement or the certificate of pledge in the case of a mortgage must be certified by a court or by a notary in order for the ownership title to be entered in the land register (registration).
Tip
If you are able to choose who draws up the contract yourself, compare the fees and scope of services of a number of lawyers or notaries for drafting the purchase agreement and entering it in the land register.
Further links
- Register of notaries (→ ÖNK)German text
- Register of lawyers (→ ÖRAK)German text
- Entering the profession of property trustee (→ WKO)German text
Legal basis
Responsible for the content: Federal Ministry of Justice