Austrian Property Archives - Page 2 of 7

Jan 22: high demand for serviced apartments

January 19, 2022 By admin

Some recent articles from Gewinn and the Tiroler Tagezeitung on the Austrian property market in general, and news on the “Serviced Apartment” sector in Tirol specifically (to be clear, these are dual-season, buy-to-let, ski apartments which are rented to tourists throughout the year).

Skiurlaub mit Rendite Dezember 2022

Summary overview:

We are experiencing high demand from EU buyers, especially from the German-speaking and Benelux countries;

Austrians have become aware of the great opportunities to invest in their country’s tourism sector;

Thanks to strategic planning laws and restrictions on development, pent up demand for ski apartments is outweighing supply which in turn is supporting the current trend in strong capital growth – average house prices rose 12.9% year-on-year across Austria in 2021;

Experienced investors are seeking second and third properties in the Alps during the current inflation surge;

Real estate traditionally acts as a hedge during periods of high inflation, as the real asset holds its value, and rental income is indexed with inflation;

When rented out fully to the tourism market, our self-catering ski apartments can deliver an average 4% annual return over 10 years on rental performance alone and the general view is that this is the last Winter of disruption as major skiing markets in Europe exit the pandemic.

Kristall Spaces is currently offering 4 completed apartments in Fieberbrunn and 14 apartments in Ischgl which will be completed in October 2022.

Further projects will be announced in Q2 2022.

Filed Under: All Suite Resorts, Austrian Property, Fieberbrunn, Galtür, Ischgl, Rental & management

Serviced apartments 20% higher occupancy than hotels

June 10, 2021 By admin

The serviced apartment segment proved its resilience during the pandemic according to a recently published market report “Serviced Apartments 2021” (Source: https://www.ahgz.de/).

The 2020 occupancy rates for serviced apartments were at least 19% higher than the hotel sector and 28% higher in April 2020.

According to the current planning status, the serviced apartment segment will grow by 48% by the end of 2023.

Other news:

Our operator all-suite.com is getting lots of bookings for July and August and even into September as the number of new infections has fallen in Germany (19.9 per 100,000) and Austria (24 per 100,000).

There has also been another lifting of restrictions in Austria:

The curfew has moved from 2200 to midnight
8 adults can meet indoors and 16 outdoors
Social distancing is now 1 metre instead of 2 metres
Cultural venues can now allow 75% occupancy instead of 50%
You no longer have to wear a mask outdoors

Austria and the rest of the EU are working on producing a Digital Covid Certificate which will become valid from 1 July.

Tirol is one the least densely populated areas in Europe with 59 people per square kilometre versus Germany 232, Netherlands 521, England (UK) 424, Belgium 376, Czech Republic 135.

And our serviced apartment model provides extra safety during these times.

Come and stay in a well-spaced, self-contained apartment where you can arrive in your own car, you have the flexibility to cook for yourself and there are fewer communal areas compared to the old-fashioned 3 and 4-star family-run hotels.

Filed Under: All Suite Resorts, Austrian Property, Fieberbrunn, Galtür, Ischgl, Oetz, Rental & management, Seefeld, Summer

Austria to vaccinate every adult in next 100 days

April 9, 2021 By admin

Austria is performing well in its vaccination programme when compared to other European states.

According to the Statista website https://www.statista.com/statistics/1196071/covid-19-vaccination-rate-in-europe-by-country/ , Austria is in 9th place in Europe with 19.5 percent of its population having been given at least one dose, just behind Denmark which is at 20 percent.

One reason is probably that it has not stopped using the AstraZeneca vaccine for certain age groups.

Last week Chancellor Sebastian Kurz promised every adult in Austria who wants to be vaccinated against the coronavirus will be given the opportunity in the next 100 days.

Kurz also said sport, restaurants and hotels will be able to open again in May, after over 65s are vaccinated.

In May all over 50-year-olds should be jabbed, and in June vaccination is to be opened to all age groups. (source: thelocal.at).

Welcome news for the tourism industry and the forthcoming Summer season.

Our operator all-suite.com is expecting a very busy July, August and September.

June could also start to get busy and in October they are expecting good business from the hiking tourists in Oetz and Fieberbrunn where the lifts run from 13 May to 26 October.

More and more tourists now prefer to stay in a well-spaced, self-contained apartment where they have the flexibility to cook instead of the old-fashioned 3 and 4-star family-run hotels which run the standard half-board service model in a riskier environment with more communal areas.

At Kristall Spaces, we are arranging meetings next week with property buyers from Germany, the Netherlands, Belgium and the UK who are travelling for business purposes right now to invest in a property that supports tourism.

Please contact us today to arrange your property viewing in person or remotely via video.

Filed Under: All Suite Resorts, Austrian Property, Fieberbrunn, Galtür, Ischgl, Oetz, Rental & management, Seefeld, Sölden, St Anton, Summer

11 January: visiting Tirol to see apartments & sign contracts

January 11, 2021 By admin

There is currently a lockdown in place in Austria until 24 January and we are advising prospective apartment buyers to wait until after this date to travel to Tirol.

IMPORTANT: if you travelling to see an apartment or sign a contract (mortgage or Kaufvertrag) then your visit is categorsied as a business trip because you are considering an investment in a “gewerbliche Ferienwohnung” which supports tourism in Tirol.

In other words, you are not travelling as a tourist and it is easier to enter Austria.

Please contact us to discuss this and we will advise you on the best way to make a visit e.g. some visitors crossing the border from Germany will be arriving by car to see an apartment and returning home on the same day, without a stay in Tirol.

The situation for tourists:

Our operator, All-Suite Resorts GmbH, is currently planning to open on Monday 25 January and they are considering two scenarios for February which is typically a very busy month for tourism from all the key markets.

There might be no customers at all except for Austrians because the restrictions are in place entering Tirol and returning home or there could be a deluge of arrivals.

Arriving tourists would probably have to show a negative test to avoid quarantine or if they do not have a test then this could be arranged on arrival and the guest would have to stay in their apartment for up to 24 hours until they get the result.

Tourists would have to comply with their home country rules and some of these might require a quarantine for 5 days followed by a test to release them.

This might be an acceptable given the various holidays in key markets like Germany, the Benelux, Switzerland and the Czech Republic.

The new “work from home” means the impact of quarantine is less disruptive on working lives.

Please feel free to contact us if you have any questions.

Filed Under: All Suite Resorts, Austrian Property, Fieberbrunn, Galtür, Ischgl, Oetz, Rental & management, Sölden, St Anton

27 November: visiting Tirol & site visits

November 27, 2020 By admin

There is currently a lockdown in place in Tirol until 6 December. Hotels are closed to leisure travellers/tourists; only business travellers are allowed to stay in hotels.

Some of our buyers have legitimate excuses to travel for business or for the purpose of making an investment in a “gewerbliche Ferienwohnung” which supports Austria’s tourism industry.

The Federal Government has ordered over 7 million tests to try and screen the entire population at 100 testing stations across the country before Christmas.

SITE VISITS – REAL & VIRTUAL

Kristall Spaces is still planning site visits in-person for buyers who are able to travel – observing all safety protocols
It is easier for buyers based in Austria to do site visits right now but some buyers are able to cross from Germany for 24hours to do the site visit and then they go home
Buyers from further afield can even fly into Munich airport to make a quick visit over the border before returning
Virtual visits: we are also doing visits over video with our customers – we can make a video call from the finished apartments or the shell of the apartments in Fieberbrunn for example
3D tours: for finished apartments in Oetz, Sölden and St. Anton customers can walk around the last few apartments for sale (we have sold several apartments this way) e.g. https://my.matterport.com/show/?m=CnyP9pwmAEi

TESTING & SAFETY

The total number of infections in Tirol is falling
Most of the infections are in densely populated areas like Innsbruck – the valleys and ski resorts are not affected and, for example, there are 164 infections in the Bezirk of Landeck, the district which covers Ischgl and St. Anton
Our hotel operating company can arrange COVID tests with local doctors and have the cost charged to the bill for the stay in our apartments https://www.apartments-oetztal.com/en/latest/
The national testing programme will enable all the authorities to isolate infected people before Christmas
Andreas Steibl, the Director of Tourism in Ischgl says more than €700,000 had been invested in their hygiene and protection plan which “goes far beyond the government’s measures”
The Tirol state government and University of Innsbruck are monitoring Ischgl’s sewage works to identify any presence of the virus
Disinfection of all cable cars takes place several times a day using special cold fogging devices: within 1 minute 99.99% of viruses, bacteria and spores are eliminated (the active ingredient does not leave behind residue and is 100% biodegradable, non-toxic, pH-neutral as well as skin- and eye-friendly)
And a multifunctional scarf with a filtering face-piece comes free with the lift pass

WHERE TO SKI

The ski slopes in Austria will not be closing
Tourism Minister Elisabeth Köstinger (ÖVP) makes the point that the virus does not spread on the ski slopes but mainly in closed indoor areas: “Das Virus verbreitet sich nicht auf den Skipisten, sondern vor allem auch in geschlossenen Innenräumen”
Ski lift openings: Oetz (11 Dec), Fieberbrunn (7 Dec), Ischgl (17 Dec), Leutasch cross-country started 20 November, Sölden (11 Dec) and St Anton (18 Dec)

Please contact us today to discuss your visit to Tirol.

Filed Under: Austrian Property, Development News, Fieberbrunn, Galtür, Ischgl, Oetz, Seefeld, Sölden, St Anton

Austrian border opens from Germany on 15 June

May 15, 2020 By admin

From 15 June, Austrian Federal Chancellor Sebastian Kurz and German Chancellor Angela Merkel have agreed to open the border from Germany to Austria allowing other nationalities to pass more freely through Germany into Austria.

https://www.welt.de/print/die_welt/article207962143/Erste-Grenzen-oeffnen-sich.html

Currently, there are 53 people reported with the virus in Tirol. 3,370 people have recovered and sadly 107 people have died.

Restaurants in Tirol open today (15 May) and hotels open 29 May.

Site visits for Austrian property investors have already begun and we are making appointments for German and Swiss buyers.

Current water temperature in the Piburger See is 20°c https://www.bergfex.at/sommer/oetz/webcams/c17119/

Area 47 opens fully on 26 June; the wakeboard area is already open at the weekends.

Filed Under: All Suite Resorts, Austrian Property, Development News, Fieberbrunn, Galtür, Ischgl, Oetz, Rental & management, Seefeld, Sölden, Summer

Rising number of cross-country skiers

April 7, 2020 By admin

Surveys and statistics show that Germans (the largest tourist demographic to Austria) are developing a growing interest in and passion for cross-country skiing.

This statement is particularly supported by a trend study carried out by the market research company Kantar TNS and the Olympiaregion Seefeld “Winter Sports in Germany 2018”. The managing director of the Olympiaregion Seefeld, Elias Walser, confirms the results of the survey based on his own observations in everyday working life as well as the interaction with visitors: “We have been observing the growing popularity of cross-country skiing for several years and meet our guests’ needs comprehensively. We start the new cross-country season around the 11th November as one of the first winter sport destinations and most traditional cross-country skiing locations in the Alps. ”

At the ISPO Munich, the world’s largest multi-segment fair for sports, Univ.-Prof. Dr. Ralf Roth from the German Sport University Cologne summarised the study “Winter Sports Germany 2018” and gave a presentation at the symposium of “Your Winter. Your Sport.”

The sponsors of “Your Winter. Your Sport. ” discussed the results together with other presidents of ski and sports associations in Germany (including the German Ski Instructor Association DSLV, the Federal Association of the German Sporting Goods Industry & Managing Director Marmot Europe) and CEOs of international sports retailers (including the Uvex sports group).

Furthermore, the experts addressed questions about future procedures, methods and campaigns of all sectors involved, in order to guarantee the practice of winter sports and to increase the enthusiasm for an active, healthy lifestyle among the population.

Cross-country skiing: More than just a trend

The study shows that more than half of the German population above the age of 18 (51% = approx. 35 million) expressed a general interest in cross-country skiing. It demonstrates that actually 10% more people who are actively into winter sports would prefer to start or resume cross-country skiing rather than alpine skiing or snowboarding.

Even those who had only tried cross-country skiing once before in their life emphasised their wish to pick it up again, according to the survey (7%).

In 2017, around 5.7 million cross-country skiers were active on the trails. Although alpine skiing is still at the top with a total of 8 million skiers in 2018, general developments show that alpine skiing could be overtaken soon, especially since cross-country skiing is cheaper than skiing. Another result of the study shows that snowboarding is practiced almost exclusively by younger generations as their main choice of sport and is generally recessive. 30% of those Germans who are sporty in principal but who have not yet done any regular exercise in the winter can imagine starting to do a specific winter sport.

“Winter sports are as popular as ever before,” assures Dr. Roth from the Cologne Sports University. Based on the study it’s evident that sports enthusiasts try and carry out several different winter sport activities over many years of their life. However, this is dependent on subjective tendencies and preferences as well as external circumstances.

On average, German citizens practice about 2.2 snow sports. Around 5.82 million prefer, in addition to other well-known winter sports (alpine skiing, snowboarding, snowshoeing, ski tours, tobogganing or sledding), above all cross-country skiing as their main sport. To underline these statistics, Prof. Dr. Roth and his team introduced the “Winter Sports Days” (“Wintersport-Tage”) as a new numerical value. The main sport of the Germans was also taken into account in order to collect more data for the study. According to this, German citizens spend a total of 300 million days a year doing different winter sports.

When it comes to winter holidays, factors such as relaxation, family time and extensive outdoor activities play a very big part in the decision making process for Germans. German winter sports enthusiasts spend an average of 14.6 days actively in the fresh air in order to escape everyday stress and to relax. 77% usually try to focus on those things that are neglected in everyday life and for 76% being active with family, partners or friends is very important. The focus lies on spending time in nature, exercising in the fresh air as well as a low risk of danger (e.g. terrorist attacks). According to the Kantar TNS study, cross-country skiing falls under extensive trend categories and can meet the multifaceted needs of visitors. Promoting health including endurance and fitness (67%) is the greatest motivating factor for practising cross-country skiing. A report by the AWA (Allensbach market and advertising media analysis), which determines the habits of consumption and media usage of the German population based on a wide range of sources and statistics, stated that in 2019 around 710,000 Germans (from the age of 14) did cross-country skiing in their leisure time.

Seefeld-Leutasch: a Mecca for Cross-country skiing

The Olympiaregion Seefeld-Leutasch in Tyrol with its municipalities of Seefeld, Leutasch, Scharnitz, Reith bei Seefeld and Mösern is and remains one of the most popular cross-country skiing destinations in the Alps. The Seefeld-Leutasch region has 280 km of perfectly prepared cross-country trails for all levels of difficulty and a Nordic competence center (Nordisches Kompetenzzentrum) including a World Cup arena with ski jumps, biathlon and snow-making facilities. Cross-country skiing in Austria is particularly popular among Germans with a percentage of over 60%.

Compared to Seefeld-Leutasch there aren’t many other regions which are as popular in the summer as well as in the winter. As a cycling and hiking center (460 km) and a hotspot in the golf region center with 6 golf courses (including an 18-hole golf course in Leutasch), more and more holidaymakers choose Seefeld-Leutasch for their summer holiday destination in the Austrian Alps. With 30 ski lifts at 1,200 to 2,064m and Seefeld-Leutasch has a lot to offer for skiers and snowboarders.

Everyone is talking about Seefeld-Leutasch

The snow-sure Olympiaregion Seefeld-Leutasch isn’t just famous for its cross-country skiing among holidaymakers. In the winter and summer high seasons of 2014/15, 2015/16 and 2016/2017, there was a general increase in arrivals and overnight stays. The number of arrivals increased especially in the summer between 2014/15 and 2016/17. In the summer of 2014/15, 221,000 arrivals and in the following summer season 2016/17 a total of 278,000 (plus 57.000) arrivals were recorded. In winter 2015/16 there were significantly more arrivals than in the previous year. According to records from the Seefeld Tourism Association, there were a total of 235,333 arrivals and 991,719 overnight stays in the 2018/19 winter season.

On the list of most important tourism communities in Tyrol, Seefeld came in 10th place with the following key figures in the winter season of 2018/19: 127,264 arrivals, 526,457 overnight stays, 77 commercial occupancy days and 153 overnight stays per inhabitant. (Source: www.tirol.gv.at/fileadmin/themen/statistik-budget/statistik/downloads/Tourismus/Der_Tourismus_im_Winter_18_19.pdf ).

All-Suite Resort Leutasch

Kristall Spaces is delighted to introduce the marketing phase of our latest aparthotel project, All-Suite Resort Leutasch, near Seefeld.

These 86 new apartments are being built in a dream location with a breathtaking 360 degree view and a 500 m² spa including a heated outdoor pool, gym, restaurant and bar. A professional operator will rent and market the apartments for you and thanks to the strong year-round tourism in the Olympiaregion Seefeld high returns can be achieved.

Contact us today so that we can register your interest in this project and keep you up to date. We will be happy to send you floor plans and pricing as soon as they are available.

Filed Under: All Suite Resorts, Austrian Property, Cross-country skiing, Development News, Karwendel, Rental & management, Seefeld

Covid-19 and investing in property in Tirol

March 28, 2020 By admin

Following consultation with our partners and advisors who work across the construction and tourism sectors in Tirol, please find below the status of our operations in Austria.

CONSTRUCTION

Government guidelines published today permit the reopening of construction sites under strict conditions and at the discretion of the construction companies www.tt.com/artikel/30725737/einigung-baustellen-laufen-mit-strengen-schutzmassnahmen-weiter
Discussions are ongoing between the developer and our contractors with a view to reopening our building sites promptly
Unless business conditions deteriorate (supply chains), we anticipate no change to our handover schedule

All-Suite Resort Fieberbrunn – ready to pour concrete:

OPERATOR ACTIVITY

Our operator business, All-Suite Resorts-Österreich GmbH, expects no impact on the 2020-21 Winter season
We anticipate a strong rebound for tourism in Tirol once the Covid-19 crisis abates in the Autumn
All-Suite Resorts is taking bookings for this Summer season: customers may cancel their bookings at no cost up to 24 hours before arrival
We predict that EU based tourists (Germany, Netherlands, Switzerland, Belgium, UK and Czech etc) will favour arrival by car or short-haul holiday destinations for the foreseeable future

PROPERTY SALES

Although we have received fewer enquiries this month we have made 3 apartment reservations
We are confident site visits will resume in Tirol from May
The Kristall Spaces team is working remotely and progressing buyer transactions and conclusion of contracts with our lawyers
Our mortgage advisors continue to arrange finance with Austrian banks on behalf of buyers

Please keep safe and healthy and don’t hesitate to contact us at any time. We look forward to updating you on progress in due course.

Contact: Branson Atterbury, Marketing Director on +44 20 3735 8790

Filed Under: All Suite Resorts, Austrian Property, Development News, Fieberbrunn, Ischgl, Oetz, Rental & management, Sölden, St Anton, Summer

February: peak profitability in Austria

February 10, 2020 By admin

Winter is here in the Austrian Alps with all resorts receiving a good supply of snow this week – up to 76 cm in some places.

www.bergfex.com/stanton-stchristoph/wetter/berg/

There was already a decent base of snow but the extra top-up is welcome as the ski season starts to peak and the resorts fill up for the February holidays.

Sölden currently has a respectable 102 cm in the valley and 368 cm on the mountain which compares to 420 cm on the mountain in mid-February last year during some of the heaviest snowfalls on record. Fieberbrunn, for example, had 451cm of fresh snow in just 15 days!

So, great conditions in all resorts as we enter the busiest period when overnight rates are at their highest during the Fasching and Winterferien periods with Dutch / Belgian (Krokusvakantie) and UK half-term holidays all taking place in February too.

As tourism numbers continue to grow in Austria after another record season last winter (+3.8% in arrivals), all apartments are fully booked out and a positive impact will be felt for next year’s bookings as many families will be quick to secure their winter holiday in 2021 later this month.

Rental rates for our apartments can be 3 to 4 times higher during these weeks for owners when compared to the cheapest, shoulder weeks in the season.

Please see below a summary on our projects:

All-Suite Resort Ötztal – 14 dual season apartments ready to occupy. 2 swimming pools. 100 metres to the ski lift. Up to 40 cm of snow forecast to fall this week. 3D tours are available for each apartment.

All-Suite Resort Fieberbrunn – Completion December 2020. 16 out of 36 apartments left: 2, 3 and 4 bedroom apartments.

All-Suite Resort Paznaun – 7 minutes on the ski bus from Ischgl. Selling fast. Infinity pool, spa and restaurant onsite. Construction starts Spring 2020 with handover June 2021.

Sölden / Obergurgl – two 3-bedroom apartments available in Haus Christiane from 636,000€. Dual aspect with 3 balconies & view towards the Nederkogl 3,163m. Special zoning: can be used as a second home or rented to tourists.

St. Anton – last apartment available: 2-beds, 80.15m² for €799,000.- (includes 1 underground parking). Here is a 3D tour my.matterport.com/show/?m=2yM3JdqUrW3

All-Suite Resort Leutasch – in the planning phase. 10 minutes from “Olympic” Seefeld.

If you are interested to hear more about our ski properties in Tyrol and/or would like to arrange a site visit and meet with one of our consultants, please do not hesitate to contact us:

AT: +43 676 962 7712

NL: +31 6 48 92 32 43

UK: +44 20 3735 8790

Filed Under: Austrian Property, Development News, Fieberbrunn, Galtür, Ischgl, Oetz, Rental & management, Sölden, St Anton

Clear advice on Brexit for UK buyers

February 10, 2020 By admin

There is some confusion and sadly misleading information being given to UK and non-EU citizens about buying property in Austria at the moment.

Here is a quick steer based on unambiguous advice provided by our retained lawyers in Innsbruck who help our EU and non-EU based customers buy apartments in Tirol, Austria: according to the TGVG 1996, United Kingdom nationals are no longer covered by the fundamental freedoms for the purposes of the Tyrolean Land Transfer Act.

This means UK citizens can no longer buy property in Austria as a natural person like other EU citizens but they can buy using a SPV and we can help set this up.

We have many associate companies in Tirol and we know how to create an EU company to buy the property (the directors and shareholders can be of any nationality).

We have been using this SPV approach for years for non-EU buyers from the US, New Zealand, South Africa and Norway etc

Tax treaties between the UK and Austria are negotiated separately and not under the control of the EU so there is no change post-Brexit, in that respect.

It is not impossible there might be an agreement that enables UK citizens to buy in Austria just like before – there could be a special case made for the UK (after all, we are their 4^th most important tourism market and highest spenders per capita).

And there are also 3 times more Austrians living in the UK than Brits in Austria and the Austrians are keen to keep things the way they are and avoid any reciprocal changes.

Please do not hesitate to contact us or call on +44 20 3735 8790 for advice without any obligation.

Filed Under: Austrian Property, Development News