“The country has a central location in Europe and therefore offers plenty of rental opportunities, and not only for Dutchmen and Belgians. Also Russians and inhabitants of the former Eastern bloc countries are increasingly interested in renting a house in this country for all seasons.” The ski resorts take up first place on the popularity list. “Of course not everybody is able to afford this. That is why potential buyers especially look for houses on the outskirts of the large ski resorts. You can still make a nice profit in this way. I for example live in the region of Zell am See/Kaprun. There, the cost price including VAT amounts to 3,500 and 5,000 euros per square metre. A spacious apartment or cottage of 100 m2 in this region starts at a price of 350,000 euros.”
“Austria has had a stable housing market for a long time. It is very balanced. We did not see a decrease here – quite the contrary, the prices have slightly gone up. The most important reason for this is that people, in times of crisis, look for security. And you can find it in Austria, a politically stable country that on top of that is nicely located in the centre of Europe.” Because Austria, as EU member state, has a tax treaty with the Netherlands, you as buyer have to comply with the Austrian fiscal rules and regulations. “If you buy a second home, the revenues are taxed here. Austria has a progressive tax system. The buyer can deduct the costs incurred from his gross rental income. These costs include for example the expenses for maintenance and electricity, commissions, if any, for the tour operators, travel expenses for the inspection and financing & interest costs. Especially the two latter aspects are the reason why the burden of taxation is practically nil.”
According to Hubers the profit that can be made on a second home in Austria depends on the region where the house is located. “In the Salzburgerland – where you can find most Dutchmen – a net profit of 2,500 euros per bed per year is definitely possible. With four beds this brings in 10,000 euros. This is the amount after deduction of the costs for the rental agency. Operational costs (‘Betriebskosten’) and the mortgage expenses still need to be paid. The actual yield is between 5 and 9 percent. To many Dutchmen, that is a nice percentage, especially if you compare it to the other possibilities to make a profit on your fortune. This makes Austria an ideal country to buy a second house in – plus the fact that the Austrian government in the upcoming years will be massively investing in order to increase the number of tourists per year to 40 million. This number no doubt includes many holidaymakers who are interested in renting a second home.”
Bron: Investeren in morgen
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