House Hunting in ... Austria
Citizens of European Union countries can buy in Austria without restriction. For others, regulations on buying property differ in each of the country’s nine states. “The core of these laws says that for permission to be granted to a foreigner to purchase land or a house, it must be in the interest of the Republic of Austria,” explained Alfred Nemetschke, a real estate lawyer in Vienna. Those with a work permit in Austria or those who can prove substantial support for the arts, he said, are typically allowed to buy property, and in Vienna, a common practice for foreigners is to establish a company in Austria and buy through the company. Real estate lawyers are typically employed to navigate these restrictions, Mr. Nemetschke said.