Buying luxury real estate as a second home
Mountains, lakes and the sea are decisive factors in the purchase of luxury real estate as a second home. Therefore, what national and international areas attract potential Austrian buyers? The following provides an overview of trends, locations and prices.
Exclusive properties are much sought-after
Whether it be dreamlike views of the Wilder Kaiser and the surrounding peaks, the turquoise, shimmering waters of the Attersee on a sunny day, or the chic flair of the Wörthersee in Carinthia, those able to call an exclusive property in one of the nation’s top regions their own, are guaranteed very special impressions. Therefore, premium segment objects in these areas are much coveted and not only by Austrian buyers. However, irrespective of the location, the range of exclusive real estate on offer is extremely small and should a property come onto the market, in the majority of cases it quickly finds a purchaser. Moreover, the surrounding countries are also much in demand amongst Austrians seeking to acquire luxury real estate, although as always the final choice of location by a wealthy clientele remains a matter of personal choice.
The top three
As far as the purchase of luxury second homes in concerned, experts agree that above all the three aforementioned areas of Austria, consisting of Kitzbühel, the Wörthersee and the Salzkammergut are the most sought after. Furthermore, as Thomas Hopfgartner from LIVING DELUXE Real Estate explains: “In the premium segment, Arlberg is also much in demand.”
Owing to its proximity to Germany, the Kitzbühel hot spot is subject to particularly intensive interest on the part of German buyers. The properties on offer are characterised by the very high standard of their fixtures and fittings, and not only in a qualitative sense. Hopfgartner: “Record prices are currently being achieved in Kitzbühel and demand continues to be strong.”
Top locations in Kitzbühel such as Sonnberg, Lebenberg, Bichlalm and Aurach profit from the fact that the selection of exclusive objects on offer is tiny. Therefore, experts are basically of the opinion that when a property comes onto the market, as a rule it is snapped up almost immediately. The prices are correspondingly high with € 3,000 to € 6,000 per square metre being currently demanded for exclusive, developed properties. The prices for flats and apartments start at € 1 million and exceptions are always possible, as evidenced by the sale of a house in Kitzbühel during 2015 for € 15 million.
According to Hopfgartner for Austrians all the surrounding, international regions are of interest and these include Italy. Venice is an especially attractive market in this connection, not least due to its culinary and cultural aspects. Mallorca and Ibiza have also been staging a comeback in recent years in particular owing to their accessibility. Hopfgartner: “Both Balearic islands continue to be very popular, above all among German and Austrian buyers.”
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