Alpine property in Austria is usually bought by individuals who want to buy a holiday or second home. The country’s stunning vistas, serenity and both winter and summer sporting activities are huge draws. Austria offers excellent skiing, and although the country is known for its tranquillity, Austria’s most famous mountain resorts are well-known for some of the best apres-ski in the world. Thus, it is not surprising we were approached by a British national interested in purchasing a luxury chalet worth €20 million.
If you are buying high-value property in Austria, it’s advisable to think about property financing early. At this level, you are unlikely to secure the best deals on the high street, and the more expensive the property, the more you will benefit from a financing package that’s hand-built around your needs.
If you are an EU citizen, buying property in Austria as a foreigner is relatively straightforward. For non-EU citizens, however, things can get more complicated, which added a level of complexity to this case.
Having said that, with access to more than 500 lenders, Enness has significant experience assisting both residents and non-residents in securing competitive mortgages in Austria. Working hand-in-hand with four law firms and a Swiss private bank, we were able to successfully secure a €11 million loan, with an attractive 5-year fixed rate at 1.2%.
As this case illustrates, borrowing from a private bank will likely get the best rates and terms when you opt for an individually negotiated offer. In many cases, you may get the best finance if you place assets under management with a private bank.
If you are thinking of buying property in Austria, Enness will help you with your real estate finance. Enness does not offer package deals or standardised financing for individuals buying a home in Austria. Instead, you can expect a mortgage vehicle that’s built to meet all your requirements - whatever they are.