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36 apartments for sale in Fieberbrunn – Kristall Spaces collaborates with Fieberbrunn council

The market town of Fieberbrunn is fairy tale pretty – with a stunningly beautiful Church in the centre. Legend has it that hundreds of years ago a Tyrolean princess drank from its fountain and was cured of her fever.

This prompted the local residents to change its name from Pramau to Fieberbrunn which means ‘fever fountain’.

While we can’t vouch for the palliative properties of the fountain, the fresh mountain air will certainly cure many maladies.

The town, with its 4,000 inhabitants, is situated on the mountain range between Kitzbühel and Saalbach, and dates back to pre-Roman times.

But these days it combines old world prettiness with a cutting edge high speed gondola that takes you to the pistes of Saalbach-Hinterglemm, meaning you have access to 347km of pistes in total to ski down – making it one of the world’s biggest ski areas.

And now Kristall Spaces is building 36 luxury apartments there too, in the centre of the town, close to the Church.

They will be freehold apartments, with a wellness centre and a bar/restaurant onsite and will be ready by Autumn 2018.

So why are we so excited about these new Fieberbrunn apartments ?

Apart from anything, we are building the apartments in close collaboration with the council, so we are assured a smooth process as we move from planning into construction and ultimately how the apartments are managed for rental by our newly formed operator, All Suite Resorts all-suite.com

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In its own right, Fieberbrunn offers a huge range of skiing for all abilities and enjoys an excellent reputation for quality snow conditions. There’s 105 km of easy skiing, 112 km of intermediate, 21km of difficult and 45km of ski routes.

And its off piste skiing is world renowned – it’s an established venue for one of the events on the Freeride World Tour, the premier big mountain freeskiing and snowboarding tour in the world.

With its own micro-climate and predominantly north-facing slopes, top to bottom skiing lasts well into April and about 50% more snow falls there than in neighbouring Kitzbühel, 10 km away.

And the already extensive and varied ski area is now a gateway to an extra 270km of pistes with its link to the Saalbach-Hinterglemm Leogang ski circus – meaning that skiers are now treated to one of the most modern, lift-linked extensive ski areas in the world.

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And after you’ve enjoyed your skiing, there’s an excellent après ski scene too, with all manner of bars and restaurants serving competitively priced food and drinks. Should you want to try out some other activities there’s snow biking, a floodlit toboggan run, snow shoe walking and sleigh rides.

But Austria is an all-round holiday destination, interestingly 51% of tourists actually come in the summer.

Fieberbrunn (like Oetz) has a particularly strong and well developed summer tourism season with 45% of all annual visits taking place in the summer months. Impressive for one of the best-known free skiing destinations in Austria.

The lift company and tourist board is currently getting ready for the official opening of the summer season when the lifts start running on 25 May until 26 October 2017.

It’s not surprising that Fieberbrunn has such a strong summer tourist season as it offers excellent hiking and mountaineering – with 400 km of hiking trails and mountain biking and swimming in the beautiful nearby 4.3m deep Lake Lauchsee.

And for families with younger children, there’s Timoks Coaster, woodland rope gardens, wildlife parks and various open air swimming pools and playgrounds.

Freizeitpark Familienland Pillerseetal is a must for amusement park lovers. No queues, great rides and a fraction of the price you would expect in similar parks outside Austria.

Austria is ploughing money into its ski resorts – they’ve spent 4.5billion Euros in the last 15 years, so they are becoming increasingly popular with visitors, in the first six months of 2016 there was a 10% increase in tourist visits to the Tirol, outpacing all international alpine holiday resorts – meaning there is an ever increasing need for extra beds to rent.

And the fastest growing category of accommodation booked by tourists to Austria in 2016 was commercial apartment bookings – like those built by Kristall Spaces – which grew by 9.4% year on year.

So an investment in one of our Fieberbrunn apartments means that renting it out and yielding a good return while you’re not there is an excellent proposition. Added to that is the fact that we have seen a 34% increase in the value of our properties since 2010 (source: Immodex).

As far as buyer interest goes right now, we are mainly receiving enquiries from the EU for these Fieberbrunn apartments.

UK buyers have a spring in their step right now with the General Election announcement. As investors buy Sterling, its value is rising giving overseas property investors more buying power when converted to Euros. Quite a few of our buyers use a Foreign exchange partner to buy Euros at a better rate now so they can make the stage payments at a locked in rate.

Uncertainty in the French alpine market, means buyers are looking for more stable alternatives and Austria has many advantages from upward price movement to more reasonable prices for everyday items on the mountain.

As for German and Dutch-speaking buyers, there is sustained confidence thanks to growing economies and stable political landscape at home.

All in all, our new luxury apartments in Fieberbrunn are a hot prospect and we look forward to hearing from you to register your interest.

Property prices in Tirol: 34% higher than 6 years ago

ImmoDEX is the annual property prices report compiled by Immobilienscout which analyses average property prices across Austria and its Bundesländer.

This year’s edition (published 1 March 2017) makes encouraging reading for property investors throughout Austria and especially in Tirol which has posted the highest regional gains in values since 2010.

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At Kristall Spaces, we have been helping owners of our ski properties to resell apartments with a typical 4 to 5% price increase applied per annum on top of the original purchase price of the newly built apartments.

There is plenty of demand for any high-quality product in the right location offering altitude skiing or heavy annual snowfall, easy access and increasingly summer tourism business. It is worth noting that 51% of visitors to Austria now come in Summer (source: Tourism-review.com).

We are expecting the property price trend in Tirol to continue upwards thanks to supply being carefully controlled by local councils and development managed to protect local communities and their livelihoods.

Average prices in Austria are much lower than France and Switzerland (by up to 28% according to Savills) but thanks to ongoing infrastructure investment and a growing international skier base, there is room for upward price movement here.

Each year, more EU and non-EU buyers are coming into the Austrian property market thanks to increasing visitor numbers and their long-term dream of a foreign property investment which delivers capital growth, an annual profit from renting and free holidays in a healthy and safe environment, all-year round.

With a keen eye on the future, the Austrians lead the way when it comes to attracting new visitors to the mountains each year, especially younger consumer groups (Generation Y).   For a moment, consider Area 47 in the Ötztal: the de facto summer tourism innovation comprising over 20,000m² of extreme outdoor and water park activities, including wakeboarding at 812m above sea level.

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It is not surprising that the Tirol region alone delivered a >10% increase in tourist visits in the first 6 months of 2016 outpacing all international alpine holiday markets.

One final piece of research published on 27 February 2017 by Statistik Austria: the fastest growing category of accommodation booked by tourists to Austria in 2016 was commercial apartment bookings (i.e. tourism residences as built by Kristall Spaces) which grew by 9.4% year-on-year.

17 January: update on Kristall Spaces projects

The Austrian Alps are nicely covered with snow and as much 229cm in Sölden.  We at Kristall Spaces are busy handling dozens of enquiries each day and managing site visits for prospective EU and non EU based buyers.

We have 4 key projects with pricing & availability

St Anton apartment for sale – construction is underway and one of the buildings containing half the apartments has all the floors in place and the roof on.  It is possible to enter the building with one of our representatives and get a feel for the floor spaces and different views.  Of the 28 upper luxury apartments in this project, 14 are still available.  Voted Best Apartment in Austria & Europe.

Kühtai 2020 Residences – construction was completed last month. There are 5 apartments (out of 17) left but we expect them to sell in the next few months.  There are quite a few buyers who have reserved or are about to reserve in this development, the highest in Austria.  Come and look round one these fully furnished luxury apartments which are ready to occupy now.

Sölden – we will start construction after this ski season. 3 of the 8 apartments have been sold or reserved and there is good interest for the last 5.  It is easy to set up appointments in the Gasthof Zwieselstein where you can meet the developer and the Gstrein family who will manage the rental business of your apartment.

Mountain Lake Resort Ötztal – we have just finalised floor plans and pricing for this exciting dual season location. 100 metres from the ski lift and in a prime location to make the most of the Ötztal’s strong summer season facilities.  State of the art spa and choice of swimming pools for summer. Restaurant and bar on-site.  We already have 7 reservations!

Coming soon – new projects

We will soon release floor plans for Galtür (Ischgl) and Fieberbrunn, so keep your powder dry if you want your own apartment in one of these locations!

Galtür (Ischgl) – floor plans for Mountain Spa Resort Paznaun coming in February 2017.  We will update all our prospects with a newsletter.

Fieberbrunn – floor plans coming in February 2017 also.  Again, all our previous enquiring customers will receive a newsletter.

Karwendel – 28 leisure residences with no rental obligation although we provide a rental service if owners would like to rent their apartments.  Swimming lake & on-site wellness.  On-site brasserie restaurant & bar. 1 hour from Munich & 40 minutes from Mittenwald.

Register your interest 

Contact us today if you are interested in any of these locations and we will keep you updated with progress.

24 June 2016: Why UK citizens will continue to buy property in Austria

After today’s unexpected referendum result to leave the EU, UK buyers are asking about the repercussions when buying property in Austria.  Below we have listed a few pointers which may help when deciding to invest in Austrian property.

2016 is still a good time to invest in Austria:  this year Austria will receive another record number of summer and winter tourists from inside and outside the EU which will drive local investment in tourism infrastructure and support growth in rental income by our fully-managed rental programme.  On the back of these positive numbers we predict the solid capital growth within the Austrian tourism property market to continue: 16.5% in the last 4 years versus a fall of 5.7% in France (source: Knight Frank, June 2016).

Austrian ski property prices outperform Switzerland & France

No real change for UK buyers in the short term: if Article 50 is triggered by the UK government, we predict no change for the following two years as we negotiate our exit and trading relationship with the EU.  Purchases before conclusion of the exit will not be affected retrospectively – once you are in Land Registry your ownership cannot be reversed.  UK buyers should always consider the Sterling / Euro exchange rate to ensure they negotiate a good deal when converting their currency but there are many outside factors which affect the exchange rate and we predict Sterling will strengthen once the uncertainty has been removed.

Non-EU citizens are already buying our Austrian properties: should a UK buyer’s status in Austria change once we have left the EU, non-EU citizens may buy Austrian properties through limited companies with a registered office inside the EU and there is no requirement for the shareholder to be a European citizen.  Furthermore, with 1.2m UK citizens living in EU member states and 2.9m EU citizens living inside the UK, we predict both the EU and UK governments will agree a fair deal for both sides without delay.

Tax:  the UK has an extensive network of international double tax treaties. The double tax treaty with Austria will remain unaffected.  To provide balanced and accurate advice to our clients, Kristall Spaces has negotiated a very reasonable tax package with an Austrian accountancy firm specialising in tourism rental properties.  UK buyers may engage the tax advisors at the time of purchase to ensure a seamless registration with the Austrian tax authorities and advise on local tax issues during the purchase and process VAT rebates and tax returns.

Mortgages: Austria has always welcomed British buyers who invest in their tourist destinations.   All Kristall Spaces apartments come with a rental obligation and the tax authorities waive the 20% VAT on the purchase price in return for your agreement to rent the property and support the growing numbers of visiting tourists to the resort (40million people per annum).  Your property is classified as a small business and the rental income may be used to service a mortgage with a local bank. Financing a part of your purchase in Euros and servicing the mortgage with Euro rental income acts as a ‘hedge’ against Sterling / Euro exchange rate fluctuations.

Property for sale in Austria - visitor numbers

About Kristall Spaces ski properties: we carefully choose our developments in high demand locations so they sell out fast (95% before construction is complete).  We have an international mix of owners from inside and outside of the EU who choose our ski apartments (average Price per sqm € 5,500 – except St Anton € 11,500) based on their affordability compared to Swiss and French resorts, access to high altitude slopes / glaciers and increasingly their dual season status (Oetz receives nearly as many visitors in summer as winter).

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Brexit and buying property in Austria

UK buyers looking to buy property in the Austrian Alps are asking lots of questions but not being put off by a potential Brexit.

According to a recent survey conducted by A Place in the Sun, 70% of Brits say that Britain leaving the EU would not prevent or even postpone their plans to purchase a second home in Europe.

The effect of a Brexit and the free movement of capital from the UK to the European Union is likely to be minimal for a number of reasons.

Here are some of the key questions and answers from UK buyers.

If I buy now and we Brexit, what happens with my ownership rights as non-EU citizens cannot personally buy in Austria?

This is not quite true. Non EU-citizens can buy property in Austria.

The right to buy or own property in the EU by a Brit is not going to be materially diminished, whatever happens.

Should we vote to leave the EU in June 2016 (40% probability according to HSBC and UBS) it will take at least two years for the exit to take effect, during which time you retain the same rights as any EU citizen.

Furthermore, there are 1 million Brits who own properties in the EU and lots of EU owners here, so it is extremely unlikely that the host countries will suddenly impose restrictions.

Swiss or Norwegians have not been penalised and there are lots of Americans, Russians and Chinese with property in Europe.

In any event, you can opt to buy property through a limited company which has a registered office inside the EU and it is no longer necessary for the shareholder or ultimate beneficiary to be a European citizen.

Will the double tax treaty with Austria still be in place if we Brexit or could I end up paying tax on my rental income twice and future capital gains etc?

A Brexit would have no impact on the UK’s extensive double tax treaty network, which is not based on EU membership.

The double tax treaties we have signed with EU countries will remain unaffected because the agreements to ensure people are not taxed twice on the same money are made individually with each country.

Should I buy now or wait in case we don’t Brexit and the exchange rate gets better? 

The Sterling / Euro exchange rate will see some fluctuation between now and June depending on the polls but the cost of a Brexit has been mostly factored into the equation by the large institutions.

For added security buyers can lock in today’s exchange rate for the next two years by paying a deposit of 5 to 10% now.  Our Forex partner can assist with this.

Should I take out an Austrian euro mortgage or a UK mortgage?

European banks have strong lending divisions that have created mortgage products aimed at UK buyers and these will continue even if Brexit happens.

Austria welcomes British buyers who invest in their tourist destinations and even after Brexit, a British buyer would find it easy to get a mortgage in Austria.

Kristall Spaces apartments come with a rental obligation when owners are not using the property and local tax authorities waive the 20% VAT on the purchase in return for your agreement to rent the property and support the growing numbers of visiting tourists to the resort (40million people per annum).

The status of a rental property means your apartment is classified as a going concern and the rental income in Euros can be used to pay down your Euro based mortgage, which acts as a hedge against any future exchange rate fluctuation.

Kristall Spaces has negotiated a very reasonable tax package with an Austrian accountancy firm specialising in tourism residences.

You can engage the tax advisors at the time of purchase.

They will register you for VAT in Austria, advise you on tax issues during the purchase process and handle your VAT and Tax returns in the future.

Still unsure or want to discuss other aspects with us?  Please contact us today.

2020 Kühtai Apartments Now Available to Investors

Venture Plus AG and Kristall Spaces are proud to announce a stunning new build of holiday apartments in Kühtai, Austria’s highest ski resort. This is a unique opportunity to invest in ski property in one of the most snow-sure resorts in Austria.

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Austria’s highest resort

At 2020 metres above sea-level, Kühtai nestles among the peaks and mountain lakes above the Ötztal valley — yet it’s only 35 minutes from Innsbruck airport. With snow on the higher pistes for most of the year, the resort has invested heavily in tourism, including a planned installation of a 100MB WiFi system, and it was voted by ADAC as Europe’s best value for money ski destination, as well as winning the SkipassIndex for 2013/2014.

2020 Apartments

The new 2020 apartments (named after Kühtai’s altitude) are being designed by one of Austria’s leading architects, with construction due to start in April. Designed for the luxury market, they’ll be ski-in, ski-out properties located centrally in Kühtai, with current prices ranging from €286,000 for a two-bedroom ground floor unit to €641,500 for a large, three-bedroom penthouse apartment.

All the apartments will be luxuriously fitted out, with traditional furnishings and underfloor heating beneath the Swiss parquet floors. Kitchen and bathroom fittings will be by designers such as Hans Grohe, Miele and Siematic, while they’ll be completely up to date with smart TVs and wireless LAN. Triple-glazed, floor-to-ceiling windows will allow you a perfect vista of Kühtai’s breath-taking scenery.

A unique investment opportunity

It isn’t often that this kind of opportunity becomes available in one of Austria’s top resorts. The authorities keep very strict control over holiday homes, and Venture Plus AG and Kristall Spaces have carefully acquired permission for a new build in such a premier location.

Kühtai’s winter sports season starts earlier than most other resorts and lasts a long way into the year.  There’s no shortage of snow at 2020 metres!  Whilst the summer offers visitors the chance to enjoy the breathtaking Alpine scenery with a range of activities suited to all ages, so there’s demand for holiday apartments all year round. Kristall Spaces will not only manage the apartments, but also arrange rentals through renowned tour operators.

With VAT rebates available on the properties and strong annual capital growth rates, they not only guarantee a good return on investment through rentals, but are also almost certain to appreciate in value.

You can reserve an apartment by putting down a deposit, but several have been sold already, and the rest are likely to follow quickly. Check out the details for a wonderful investment opportunity!  Download Brochure.

Your Chance to Invest in Premium Austrian Ski Property

The Austrian authorities are careful about granting permits to build ski property in their top resorts, and demand is high when there is an opportunity. But Kristall Spaces has achieved a rare coup by obtaining permits to build in several resorts, including Saalbach, Galtür/Ischgl and Kühtai.

New luxury apartments

These two and three bedroom luxury apartments are brand-new builds, and Kristall Spaces is offering them as excellent chances for investment, since the scarcity caused by planning restrictions ensures that capital growth is high. Our new units are always heavily subscribed even before we start building, and it’s unheard of for any to remain to be sold by the time the project is complete. There are few better investments — with the current exchange rate, even holding sterling is less attractive to UK investors.

Top properties in top Austrian resorts

The resorts earmarked for the new developments are among the most attractive in Austria, chosen for guaranteed long winter sports seasons, together with wonderful golf courses and great opportunities for walking and alpine sports in summer. We offer properties that are central with private parking, and many with ski-in, ski-out locations.

  • Kühtai — only 35 minutes from Innsbruck airport, we offer ski-in, ski-out apartments in this beautiful, high-altitude resort.
  • Galtür — quite apart from the family-friendly skiing in a beautiful, tranquil setting, it’s only 10 minutes on a free bus to the more glamorous Ischgl, from where you can ski over the border into Switzerland.
  • Saalbach — just an hour from Salzburg airport, our properties in Saalbach offer ski-in, ski-out in winter and excellent golf courses in summer, guaranteeing a 5-year rental return of 5%.

A great investment

Our properties in these resorts are built, designed and furnished to exacting standards, each with at least two bedrooms, a large bathroom and a balcony. Kristall Spaces makes all the arrangements through the best tour operators for year-round rental, and the facilities on offer ensure the apartments will be in high demand both summer and winter. And, as if the opportunities weren’t enough, you can even claim a VAT rebate on your property.

Kristall Spaces will soon be announcing new projects in other Austrian resorts. For now, though, you can check out more about our apartments, priced from €280,000 to €334,500, in Kühtai, Galtür/Ischgl and Saalbach.

Tax Breaks and Financial Benefits of Investing in Austrian Ski Resorts

Tax-BreaksThe traditional target for property investment in Austria, Switzerland and Germany has always been student accommodation or buy-to-let residential units. High prices, high management costs and recent tax changes have made this market less attractive, and Austrian investors are showing interest in a different target — ski holiday properties.

In recent years, planning restrictions have created a backlog of building projects in ski resorts, with the result that those which are built attract high demand and strong capital growth. And, at the same time, foreign investment in Austria has never been easier.

So what has happened in Austria to create this boom?

  • Recent governmental changes promise financial stability. In particular, the new finance minister, Hans Jörg Schelling, is likely to favour policies such as tax breaks for investors.
  • The European Central Bank has recently reduced the headline rate of interest, keeping the Euro Libor low.
  • The government is offering a savings loophole with a 1% per annum VAT rebate.
  • A court recently ruled that Austrian property could be bought by an SPV owned by non-EU citizens, which opens up the possibility of a future flight to safety.
  • In the past year, Austrian banks have changed their stance and are showing considerable interest in financing foreign buyers.
  • Austria’s bank secrecy act is stronger than Switzerland’s, giving investors peace of mind.

In spite of this, the price in Val d’Isère, on the other hand, the bottom end of the market for a similar unit would be around €380,000, while most are over €800,000. Switzerland is even more expensive, with few 2-bedroom apartments in Zermatt below €500,000, and Davos even more expensive. Prices of Austrian ski properties are still remarkably low. A 2-bedroom apartment in Sölden, for instance, can currently be bought for as little as €334,995, and similar apartments in Ischgl go as low as €323,400. This rises to only a little over €600,000 for penthouse apartments.

Austrian resorts can match or exceed these for quality, and investors have a unique opportunity to snap up valuable property at such low prices. It won’t be long before everyone else wakes up to this and the prices rise, offering a substantial return on your investment.

European Central Bank reduces rate of interest making Austrian property investment all the more attractive

In an effort to keep low inflation from derailing the Eurozone’s economy, the European Central Bank has surprised financial markets this September with a cut in interest rates and new stimulus plans.

Speaking at a press conference after the announcement of the rate cut, ECB president Mario Draghi said the Bank expected to see “a prolonged period of low inflation” and reiterated a pledge to keep rates low for the foreseeable future.  After the rate cut was announced, the Euro fell against the Dollar and Sterling making a purchase of property in Europe even more attractive.

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The European Central Bank cut interest rates and announced a program to pump money into the economy and stimulate lending by buying bundles of bank loans.

It may not be a coincidence that we have seen a change in stance in the last 12 months by Austrian banks which have shown a high interest in financing up to 60% of the purchase price of ski property investments by foreign buyers.

If a potential investor is shrewd, they could secure a property now with Kristall Spaces at Spring 2014 prices with only a 1% fully-refundable reservation fee (no buyer’s commission fee) with the first 15% stage payment not due before the spring of 2015.

Furthermore, we have seen an apartment bought for €300k in our recently completed project in Zell am See be remarketed for €350k within 12 months and the buyer only paid 60% of the price before making the decision to sell.

That equates to a €50k uplift on a €180k capital investment in just 12 months.

Please get in contact with us today and find out how you could earn up to 15% IRR on one of our Austrian ski properties.

Number of Tourists Entering Austria in Winter and Summer

397A record number of tourists are entering Austria in winter and summer now. Austria has become one of the most popular travel destinations of late, because of its wonderful climate and its ample entertainment opportunities, that include outdoor activities, classical music, art and architecture.

In fact, Austria’s tourism numbers have been steadily increasing during the past 50 years and today tourism makes up more than 8% of Austria’s annual GDP. It is becoming one of the most important and fastest growing sectors of the Austrian economy.

Today, investments in the leisure sector, including investment properties, are at record levels. An investment in vacation rentals is seen as a sophisticated and sustainable prospect, with year-round range and international appeal. This includes vacation rental opportunities with Kristall Spaces properties in Austria’s top ski resorts. Skiing is one of Austria’s main draws, but there is much to do at these resorts in addition to skiing, so they appeal to every visitor.

Tourism by the Numbers

wp517eb0ed_05_06Today, Europe is the most visited area in the world. In Austria, the winter season sees a 50% share of tourists, which means that half of all the 125 million annual overnight stays occur during the winter, or skiing season. The other half of tourists visit in the gorgeous summer months, to take in the gorgeous scenery, hike, sightsee and take in the cultural attractions.

In 2006, Austria was ninth in the world in terms of international tourist arrivals, with 72% of foreigners making overnight stays. Austria’s tourist travel is predicted to rise by 1.5% each year for the next 15 years, and then by 1% after that, for the next 15 years. An investment in Austria’s tourism looks to be a smart, and lucrative, idea.

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