Austria is a favourite holiday destination, both in summer and in winter. It is easy to get to and popular with tourists from Benelux, Germany and the UK. Thanks to an increasingly prosperous middle class, more and more holidaymakers from neighbouring countries are also discovering Austria as an ideal holiday destination. Tourism to Austria has been growing for many years, so there is a big demand for good, comfortable holiday accommodation.
Investing in a holiday apartment with a rental guarantee in the Alpin Resort Erzberg is therefore an attractive alternative to shares, bonds and low-interest savings accounts. For the first seven years you get a rental guarantee of 5% on the net purchase price.
By purchasing your apartment in combination with a low-interest mortgage you not only need less capital but your return rises still further because of the leverage effect.
Eisenerz
Eisenerz, with its characteristic old town centre, is located in the triangle formed by Vienna, Salzburg and Graz, between the Gesäuse national park and the majestic Erzberg. Visitors here are in the midst of fascinating and largely unspoilt countryside where they can enjoy an imposing view of the Erzberg and the Eisenerzer Ramsau and Hochschwab range.
This region is especially recommended for active people the whole year round. In winter you can enjoy the nearby family-oriented and modern ski resort of Präbichl with its 20 km of pistes up to a snow-sure height of 1,900 metres. In this area there are pistes to suit all levels, from wonderful family-friendly slopes to carving pistes and mogul pistes, deep snow and, for real snow-freaks, the thrilling ‘Polsterrinne’.
Eisenerzer Ramsau is the Nordic centre, especially popular for sports such as cross-country skiing and biathlon. Because it is snow sure and has excellent facilities for cross-country skiing, Austria has awarded the region the Styrian cross-country skiing seal of quality.
Surroundings
Spring, summer and autumn are the seasons to enjoy the local nature. Hiking, mountain biking, wild water sports and the Erzberg mine are just a few of the possibilities for holidaymakers who want to spend an active holiday in the midst of nature. Mountain climbers will also find lots to challenge them in the region, especially in the mountains close to the Eisenerzer Ramsau, and the rock face at the nearby Leopoldsteinersee is popular with rock climbers.
Golf lovers will be in their element here too. The Reiting golf club lies on a sunny high plateau surrounded by the imposing mountain panorama of the Eisenerzer Alps. This fine, varied 18-hole golf course is just half an hour’s drive away.
Culture enthusiasts have plenty to enjoy as well. The historic town centre of Eisenerz exudes the atmosphere and tradition of yesteryear and a variety of museums and beautiful old buildings recall the rich history of the region. The old town centre of Eisenerz also boasts many shops and a variety of restaurants, terraces and bars.
ECONOMIC DEVELOPMENTS
In the past, the region’s economy depended totally on mining and many reminders of the former prosperity and rich traditions live on in the surrounding area. The principal basis of the economy fell away years ago when the mines were modernised, but the region has excellent potential for tourism and offers a lot to the holidaymaker.
Thanks to its many recreational possibilities, the provincial government of Styria has decided to provide substantial subsidies to Eisenerz and surrounding areas. The Redesign Eisenerz – 2021 project is a ten-year plan to develop the region for top-quality tourism.
Not only are these subsidies a stimulus for tourism, but the resulting increase in economic activity will also have a positive effect on the future prices of houses – and holiday houses – in the Eisenerz region.
The project
The Alpin Resort Erzberg is a former residential area encompassing 550 apartments. These homes are to be totally renovated and turned into luxury holiday apartments. The first 100 apartments have gone on sale and are being sold with a rental guarantee.
The plan has a feeling of space with a lot of public green areas and a ‘garden city’ atmosphere. The characteristic architecture of the houses, and the leafy avenues and public gardens give it an intimate and cosy feel, yet the view of the imposing mountain backdrop is a constant reminder that you are in the real Austria.
The development is made up of two-storey houses comprising four or six apartments, with a porch; the houses face the road and there are square-shaped public gardens at the rear. All the apartments have a balcony.
The rental and management activities are carried out from a central reception building with a variety of facilities. The service offered will be of excellent 3-star quality and will attract a broad range of holidaymakers.
Prices, mortgage & Letting
PRICES
The floor area of the three-room apartments varies from 45 to 60 m2 and the price range is from €72,000 to €95,000. A two-storey house of four or six apartments can be purchased at a 5% discount.
The prices include fixtures and fittings but exclude VAT and costs. As you will be letting the property, you can set off the VAT on the purchase price in your annual tax return. A VAT reverse-charge mechanism has been agreed with the Tax and Customs administration of Austria so you do not have to pay the VAT on the purchase of the residence in advance.
The civil-law notary’ costs and the transfer tax are for the account of the purchaser and are calculated on the sales price (including VAT). The transfer tax is 3.5%, the cost of entry in the Grundbuch (land registry) is 1.1% and the costs of the civil-law notary are 1.5%.
MORTGAGE
We have secured a project financing offer from the Austrian Raiffeisenbank. The bank will finance 70% of the purchase price. The term depends on the financial institution and varies from 20 to 25 years (maximum age 75) and is based on annuities. The interest rate may be fixed or variable, according to the buyer’s preference. The variable interest rate is currently 2% – 2.5% (March 2015).
LETTING AND MANAGEMENT
During the seven-year term of the rental agreement you will receive a 5% return on the net purchase price of the apartment, so you are assured of the return. All the letting and management tasks are taken care of and you can sit back and enjoy the returns from your holiday apartment. There is an attractive own-use scheme in place.
We will oversee the entire process, from the initial approach to the transfer of the chalet. We are happy to inform you about the civil-law notary, the purchase process, the mortgage, rental possibilities and the Austrian legislation and regulations relating to construction and taxation. During the purchase process we will provide you with clear drawings and quotes, a list of all the expenses associated with the purchase, the mortgage calculation, etc.
Needless to say,we will make the mortgage application, we will ensure that the civil-law notary gets the necessary documentation and we will register you for the rental registration with the Austrian tax authorities.
If you are interested to come and view these properties or have any questions don’t hesitate to contact us
Ernst Geweldinger
+31 (0)625 045 633
ernst@austrianalpinechalets.com
Maarten van der Werff
+31 (0)6 539 408 65
maarten@austrianalpinechalets.com
Patricia Blauw
+31(0)6119 120 03
patricia@austrianalpinechalets.com
Austrian Alpine Chalets
A-8862-Stadl an der Mur
Stadl 191-192 Austria
+43 (0) 3534 20 100
www.austrianalpinechalets.com