Buying property in Austria: what you need to know
By Sonja Winter, real estate agent · Updated: November 2026
Buying in Austria works differently from many other countries. The purchase offer is binding, the extra costs are around 10 %, and if you are not an EU citizen, you may need an approval first. Here is the overview I give my buyers.
The extra costs
| Cost | Rate |
|---|---|
| Property transfer tax (Grunderwerbsteuer), of the price, at least of the property value | 3.5 % |
| Land register entry for you as owner, of the purchase price | 1.1 % |
| Registering the mortgage, of the loan amount, only if you borrow | 1.2 % |
| Agent's commission, if an agent is involved, at most (higher caps apply only to very low prices) | 3 % + 20 % VAT |
| Contract and escrow by a notary or lawyer | depends on the fee |
Altogether that is roughly 10 % of the price. Banks rarely finance these costs, so they should come from your savings. The temporary land register fee exemption for a first home ended on 30 June 2026.
If you are not an EU or EEA citizen
EU and EEA citizens generally buy property on the same terms as Austrians. For citizens of other countries, for example the UK, the USA, Serbia or Bosnia and Herzegovina, buying usually requires approval under the land transfer law of the federal state:
- Vienna: approval under the Vienna Foreign Land Acquisition Act, handled by the municipal department MA 35.
- Lower Austria (including the Marchfeld): approval by the land transfer authority under the Lower Austrian Land Transfer Act.
What matters for the approval includes what you will use the property for, for example as your main residence. The procedure takes time, and there is no guarantee. Exceptions exist, for example under international agreements, and you may still need a confirmation. So: talk to the notary or lawyer before you make an offer, and make sure the contract only becomes effective once the approval is granted.
The purchase offer is binding
In Austria you make a written purchase offer (Kaufanbot). If the seller accepts it within the deadline, the purchase is usually fixed, even before the notary. A general 14-day cooling-off period does not exist. Two things protect you:
- A financing condition in the offer: it only applies if your bank approves the loan by a certain date.
- The one-week right of withdrawal for consumers who sign on the day of the first viewing and urgently need the home to live in. The week only starts once you have a copy of your offer and written information about this right, and the right ends one month after the first viewing at the latest.
Mortgage and own funds
From August 2022 to the end of June 2025, a regulation limited mortgages to 90 % of the value, a monthly rate of at most 40 % of net income and a term of at most 35 years. It has expired, but banks still lend carefully and many still work with similar figures. Get a financing commitment early; sellers prefer buyers whose financing is clear.
What to check before you offer
- Land register extract: who owns it (B section) and what is registered against it, such as mortgages or rights of residence (C section).
- Energy certificate: you must get it before you make your offer.
- For flats: reserve fund, operating costs, recent owners' meeting minutes and planned repairs.
- The contract language: contracts are normally in German. If needed, ask the notary or lawyer early about a translation or an interpreter.
Frequently asked questions
How much are the extra costs when buying property in Austria?
Roughly 10 % of the price: 3.5 % property transfer tax, 1.1 % land register fee, contract and escrow, and usually the agent's commission. If you take out a mortgage, registering it costs another 1.2 % of the loan amount.
Can foreigners buy property in Austria?
EU and EEA citizens generally buy on the same terms as Austrians. Citizens of other countries usually need approval from the authority in the federal state where the property is. Plan for this early.
Is the purchase offer binding?
Yes. Once the seller accepts it within the deadline, the purchase is usually fixed. There is no general 14-day cooling-off period.
How much deposit do banks want?
There is no longer a legal minimum, the rules that limited mortgages ended on 30 June 2025. Banks still expect you to pay the extra costs yourself, and many want own funds on top. Ask your bank early.
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- § 4 and § 7 Property Transfer Tax Act 1987 (GrEStG), Court Fees Act (GGG), RIS
- § 30a Consumer Protection Act (KSchG), RIS
- Vienna Foreign Land Acquisition Act (Wiener Ausländergrunderwerbsgesetz), Lower Austrian Land Transfer Act 2007 (NÖ GVG 2007), RIS
- oesterreich.gv.at: approval for third-country nationals
Status: November 2026. General information, not tax or legal advice. For your own case, a tax adviser, notary or lawyer will give you a binding answer.