The focus on the Olympic games reminded the nation and the world of the joy of skiing. Whether it’s cross-country or downhill or freestyle, few activities lead to a life-time love affair quite like skiing. Brits who want to turn their hobby into a money-making operation can consider investment properties in Austria by purchasing rental units for the millions of skiers who take to the Austrian alps each year. Austria has enjoyed significant growth in their recreation sector, having climbed to the second-highest market share in global skiing expenditures with nearly 25 percent of the market world-wide. With a supply shortage for new units, there’s a consistent and strong demand by tourists as well as native Austrians for ski rental units on their next vacation. Furthermore, the Austrian economy has vastly outperformed its European-Union cousins and neighbours, having grown steadily while other ski-hardy nations like Italy have seen their finances shrink.
More than anything else, however, the driving factor for any British interest in an overseas investment is the favourable exchange rate. With 1.2 Euros to the pound sterling, as of the last 7 years there has never been a better return on spending for Austrian rentals. The rate by which Brits win out is especially large in comparison to foreign investors, since the pound is cruising in comparison to the flat American dollar or Japanese yen. Since these are non-resident homes, furthermore, British citizens will not be taxed as Austrian homeowners. Indeed, there’s even an annual 1% VAT rebate for all Austrian spending. With each unit fully furnished and managed on-site, it’s not necessary to have to jet from the UK to Austria since each property can be controlled remotely.
British financial advisors have been pushing for more and more purchases overseas. MGM’s UK office has noted that the market for Alps ski rentals has increase substantially in only a single year, with more than half the units in popular areas having been sold. This is partially a reflection on the guaranteed rental yields, but also an indication of how Britons have chosen to place their finances into tangible investments like foreign real estate instead of on-paper investment plans. Buyers interested in flexible purchases for Austrian units can choose the size, location, and scope of their property in order to take on an investment that fits their needs and budgets.
