Austria: Cheap Ski Dreams

If you are on the lookout for a cheap ski property, Austria could be the place for you. Cheaper than France and Switzerland, the Austrian Alps has plenty of good ski properties to choose from. And with Austria relaxing some of the restrictions on buying foreign propertys, now is the time to buy.

Austrian skiing property is weathering the current global financial problems well, with a property market that continues to be relatively stable. Add the fact that you tend to get far more for your money in Austria than either France or Switzerland, and it’s no wonder that buying foreign propertys are flocking to the country.

Salzburgerland is one of the most popular areas thanks to it’s balance of affordability and accessibility – in particular for British property investors.

Officially, any investor who has more than one property must make their second property available for rent however there is plenty of anecdotal evidence that this restriction is just a formality – it is said that although you must register your house with the local tourist office, it is unlikely that they will check whether you are actually renting your property out or not.

Pick you Austrian property well and it won’t just be the winter season which will see it being rented. Many ski resorts are now offering a range of activities to ensure tourists are attracted to the area all year round. Some resorts are now offering sports such as quad biking, water sports and mountain biking through the summer months, attracting tourists during the summer as well as the winter – choose a property in one of these resorts and it will ensure that your rental income remains good all year round.

The Austrian property buying process is relatively straightforward, although it is advised that you take out advice from specialist solicitors before you buy a property. Buying costs are normally in the region of about six percent with mortgages fairly freely available. One point to note is that there is a capital gains tax (CGT) of 50 percent leveraged on the profits of your house sale if you sell the property within ten years of buying it – this large tax is to try and deter a buy-and-sell culture within the country.

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