Insurance News Archive

Austria 'should be a consideration for European property investors'

British property investors should consider buying in Austria despite property purchasing restrictions on foreign nationals, an expert claims.

Simon Malster, managing director of Austrian, French and Swiss property specialists Investors in Property, says foreigners are not able to buy in the Tyrol, which means most opt for areas within an hour of Salzburg or Klagenfurt.

With both cities having hosted games for the European Championship finals this summer, he suggests football fans in particular will have realised good value property is available.

Mr Malster continues: "A two-bedroom apartment in an Austrian ski resort costs around 200,000 euros (£158, 112) and detached three bedroom chalets start at around this price in some resorts."

Channel 4's A Place in the Sun has ranked Austria 15th in its 20 Best Places to Make Money chart.

Average prices of just over £130,000 in some ski areas and the ability to purchase a one-bed apartment for £185,000, combined with expected returns of 211 per cent, make the country attractive to investors.

24 Jun 2008