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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Austria’s Commitment to Tourism and Infrastructure Investment

When you want to travel throughout the European Union, you have plenty of choices for superb cities and sites chock-full of history, culture, and fine cuisine. Unfortunately, visiting the Coliseum in Rome or the Eiffel Tower in Paris means that you have to stand in line with countless other tourists and deal with unpleasant tourism officials. There’s good news, however, for anyone thirsting for an authentic European holiday: the alpine nation of Austria has redoubled its efforts to appeal to tourists and create an extraordinary vacation.

Structural Funds

The European Union allots structural funds to all member nations for growth and commerce throughout the continent, but not all nations spend these funds in the same manner. When it comes to Austria, much of that grant money goes towards tourism infrastructure, and not just in the major cities like Vienna and Graz but in outlying regions and border areas. With these funds in place, development of tourist facilities like investment properties become easier, faster, and more productive upon completion. As such, the smart tourists aren’t just visiting Austria — they’re investing in it but purchasing these investment properties for their own gain.


Regional Support

Austria SkiingSome nations set up roadblocks for entrepreneurs to leap over on the way to financial gain. When it comes to those who want to set up their own business in Austria, however, the way is not only open but ample support networks help to facilitate the construction and maintenance of a start-up business. Entrepreneurs like property investors can utilise the Regional Business Support Database to find out more information about the area they’re choosing to put their money into, a sixty-thousand Euro computer tool that helps to determine areas of productivity, risk, and reward in existing Austrian enterprises. Then, you need only apply for EU funding in order to get any necessary capital required to get an investment opportunity up and off the ground, ready and able to profit from the steady stream of tourists coming to Austria to do everything from take in the symphony to ski down the slopes.

Kristall Spaces hands over Zell am See Apartments

Handover to the owners of apartments in the Zell am See Mark Warner Lake and Mountain Resort commenced at the end of May, ahead of the June deadline.

The transition was a smooth success and owners are absolutely thrilled with the finished look of their properties with one happy owner enthusing, “Our apartment is just beautiful.  The weather has been great and we’ve had a magical first trip. Thank you!”

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Mark Warner Hotels and Resorts has received an unprecedented amount of bookings for the development’s first summer season much to the delight of the owners.

This of course bodes well for the ski season commencing in December.

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Work continues over the coming days to finesse the communal areas on schedule to welcome the first of the rental market customers.

If you have interest in one of only two remaining apartments for sale in the Zell am See development, please contact us today for a buyer’s pack.

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Ice Q, the new source of culinary pleasures on Gaislachkogl peak

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Last December, the Bergbahnen Sölden Lift Company opened Ice Q, which was a new, innovative restaurant on the Gaislachkogl.

The Gaislachkogl is the area’s number one ski mountain, providing a huge number of skiers and boarder to enjoy the new Ice Q.

Why the buzz?  This new restaurant provides amazing culinary pleasures, amusing the palate in unique ways.  The restaurant features aesthetically pleasing modern architecture, with all materials sourced locally.  Additionally, the menu features a number of gourmet specialties.

Construction of Ice Q took six months, from June to December 2013.  It is an outstanding restaurant with wonderful service, gourmet alpine cuisine and an extensive wine list.

Ice Q offers 94 seats inside along with 34 seats on the terrace and a rooftop terrace with some amazing views.

Obermoser Architects built this innovative new restaurant along with three mountain gondola stations. Guests will enjoy the glass facades which open onto the picturesque Ötztal mountains.  Seated inside this new building, you feel like you are sat outside: the windows are so transparent, they fit seamlessly into the natural setting.

Latest news on our Austrian properties for sale

Zell am See Development update: we’re pleased to see the wooden facades, glass balconies and balustrades finished.

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The external scaffolding is down.  Another official building stage reached!

Meanwhile, another Galtür (Ischgl) apartment has been sold and 8 are under consideration.

All our Kühtai properties are under consideration.

News on other brand new developments and properties for sale in Austria coming soon.

News on our Austrian properties for sale

Good progress continues internally and to the exterior on these beautiful properties for sale in Austria Zell am See.

The locally sourced wood cladding is being fitted to the facades and the granite slab flooring is in place.

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On the interiors: all flooring, bedroom furniture, doors, kitchen fittings and the final coat of paint is being applied.

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The bathrooms are tiled and the WCs, basins and shower / bathroom fittings are being installed.

Galtür / Ischgl apartments: very good levels of interest.  4 of the 18 apartments have now been sold with a further 6 under close consideration with prospective buyers.

Kühtai apartments: currently have interest on all the units.

Other locations:  very soon we will be in a position to announce further Austrian real estate investment opportunities, so please don’t hesitate to get in touch and enquire about these new developments.