Rental & management

September 2019 update – all projects

September 26, 2019 By admin

There has been some snow in the Alps. There was half a metre on the glacier in Sölden earlier this month and the long-range forecasts are predicting another cold winter. Will we get 451cm in 15 days like last year in Fieberbrunn? Here is an update on our projects going into the Autumn.

Sölden – we have 2 projects for sale here: one project with 8 apartments left and rare zoning (can be a main or second residence or rental) completion December 2020 AND another project which we will complete end October 2019 – 2 apartments left and if you buy now you could have the keys for December and start to earn from the highest rental income weeks.

Ötztal – ready to occupy. Completed in July 2019. Dual season apartments with 2 swimming pools. 100 metres to the ski lift. Some of the best returns in Austria: the operator forecasts up to 8% return on capital invested when taking out a 60% mortgage or a guaranteed 4% return on net purchase price for first 5 years. 25 minutes from Innsbruck airport. 12 apartments left. Perfect time to become an owner in the run-up to the Winter season.

Fieberbrunn – 40% sold so still a good choice of apartments. 270km of pistes – will soon connect with Zell am See. High capital growth location. The operator forecasts up to 7% return on capital invested when taking out a 60% mortgage or a guaranteed 4% return on net purchase price for first 5 years. Highest snowfall in Tirol. Excellent off-piste skiing. Dual season: 47% of all visitors to Fieberbrunn come in summer (higher rental income). Completion December 2020. Construction resumes October 2019.

Ischgl – we have been taking non-binding reservations but now we will make formal reservations with all the contracts ready for customers to sign. Unique opportunity – no other apartments like these are available in Paznaun. 60% of the price of property in Iscghl centre whilst only 7 minutes on the free ski bus.

Other news:

Tourism numbers continue to grow in Austria after another record season last winter (+3.8% in arrivals)
More UK flights to Austria: Jet2 has announced Innsbruck as a new destination for this winter and added new flights from Birmingham, London Stansted and Manchester as well as additional flights to Salzburg from Birmingham, Leeds Bradford and Stansted during the February half-term
Brexit: there are no changes right now in how a UK citizen buys property in Tirol and even if the UK leaves without a deal on 31 October, it will take months for the laws to change in Austria if UK citizens are required to buy apartments using company
Merging the Pitztal and Sölden glaciers: as we await the final decision of the Umweltverträglichkeitsprüfung (UVP) in January 2020, surely every skier’s heart is beating that bit faster!
New € 60 million Silvretta Spa and swimming pool complex being built in Ischgl https://www.ischgl.com/en/More/Project-Silvretta-spa
Season opening dates:
- Sölden: 6 lifts already open on Rettenbach glacier / Obergurgl opens 14 November
- Ischgl opens 28 November
- Fieberbrunn opens 29 November
- St Anton opens 29 November
- Oetz opens 13 December / Kühtai opens 29 November
Our associate operating company, All-Suite Resorts, has appointed leading international hotel consultancy Linser Hospitality www.linserhospitality.com to work on standards and consistency for all All-Suite Resorts projects, starting with All-Suite Resorts Ötztal.

Contact us today or call on +44 20 3735 8790 to discuss any aspect of buying property in Austria.

Branson Atterbury, Marketing Director

Or why not read our FAQ on buying and owning Austrian property

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

All-Suite Resorts appoints Michelin Star COO

June 10, 2019 By admin

As our associate operator company, All-Suite Resorts Österreich GmbH, prepares to open All-Suite Resort Ötztal on 7 July, we are delighted to announce the appointment of Jürgen Weitzer as the new Chief Operating Officer for All-Suite Resorts Österreich GmbH.

Jürgen has had a distinguished career working for some of the most prestigious names in hospitality including El Bulli, Alain Ducasse and Gordon Ramsay, not to mention earning his very own Michelin Star on two separate occasions https://www.linkedin.com/in/juergen-weitzer-17946642/

Jürgen will oversee operations for All-Suite Resorts in Oetz, Fieberbrunn, Paznaun & Karwendel and develop the new aparthotel concept which in keeping with customer demand is moving away from the traditional Tirolean half-board business model towards a freer and more individual experience that today’s traveller seeks.

This desire to create their own more memorable experiences has resulted in a significant rise in the number of holidaymakers choosing Gewerbliche Ferienwohnungen or professionally managed apartments which is the fastest growing accommodation category in Austria with an 18% increase in bookings in Winter 2018 (source: Urlaub in Ferienwohnungen boomt https://tirol.orf.at/news/stories/2904521/)

Guests rely more on technology: with the opening of Delis, All-Suite Resorts’ new bistro and in-house shop, guests are no longer tied to a faceless half or full board experience and will be able to order breakfast, lunch or dinner in the restaurant, to be delivered to their apartment or by the swimming pool.

And the menus are quite a departure from the traditional fayre found in Tirol with emphasis on a wide choice of lighter and international cuisine … but the old favourites are in there too with some clever variations like the Tiroler Gröstl made with octopus.

The unspoken objective is to become the best restaurant in Oetz and hopefully the Ötztal valley. Download Delis All-Suite Resorts sample menu.

More control and freedom: ingredients including organic fruit and vegetables can also be sourced through the Delis app and delivered to the apartment when guests want to cook in the privacy of their own kitchen / dining room.

“Today’s traveller wants more control and ‘me time’. The new aparthotel proposition pioneered by All-Suite Resorts gives customers more flexibility and breaks from the tradition of the standard hotel model,” said Jürgen Weitzer.

“I am delighted to be part of the story and help roll out these initiatives across the All-Suite Resorts locations: Oetz first and then Fieberbrunn, Paznaun and many other locations to follow. Flexibility and innovation is at the heart of our business,” he added.

About All-Suite Resorts Österreich GmbH:

All-Suite Resorts is a new but highly professional team with vast experience of international hotel operation, sales and marketing and rental management. Their collective background experience spans leading hotel industry consultancies such as www.michaeler-partner.com to international hotel chain operation (e.g Falkensteiner) as well as numerous hotels and restaurants in Tirol.

It is their responsibility to deliver the maximum possible profit for apartment owners through careful occupancy management (i.e. renting to the highest possible number of guests in the most expensive / high demand holiday weeks) whilst ensuring a first-class customer experience.

Expert partners include hotelpartner-ym.com for yield management, Limendo (in-house Bistro / shop app) and Mindpark.at for demand generation.

Filed Under: All Suite Resorts, Fieberbrunn, Galtür, Ischgl, Karwendel, Oetz, Rental & management

Fieberbrunn tourism and investment on the rise

September 3, 2018 By admin

Encouraging news from the Fieberbrunn tourism office regarding visitor numbers this summer: up 7.3% so far this year thus outperforming the average rise of 5% across the whole Tirol region. Good to remember that the winter season here posted an 8% increase in visitors too.

The summer season in Fieberbrunn is already well developed with 47% of all annual visits taking place outside the winter season and the tourist office has great plans to develop this business further in conjunction with Kitzbühel and Saalbach.

It’s thanks to these dual season visitor numbers that the All-Suite Resort Fieberbrunn will be able to deliver 180 days occupancy per annum which is 15% higher than the officially published average for Tirol being 156 days.

The Fieberbrunn lifts run right up 28 October with a break in November giving the lift company one month to prepare the winter opening on 1 December, a week earlier than previous seasons thanks to a 7 million Euro investment this summer to the snowmaking on the Streuböden ski area. The Streuböden lake has been extended to capture more melt water and new high-capacity pumps and additional snow cannons will be able to recycle the water and cover the entire ski area in just 7 days in preparation for the opening of the winter season and busy Christmas and New Year holidays!

More welcome news is the forthcoming 15 million Euro investment in the Buchensteinwand ski area, famous for its iconic Jakobskreuz. The Buchensteinwand ski area can be accessed from Hochfilzen and currently has 8 lifts, 22 km of runs and one of the biggest children’s ski areas in Tirol, the Bobo-Kinderpark. The renowned Pletzer group will be developing the snowmaking systems and lifts and creating extra facilities to cater for winter and summer visitors.

Austria’s biggest skiable area: very soon, Fieberbrunn will also connect with Zell am See via Saalbach Hinterglemm and Viehofen creating 347km of interlinked skiing and overtaking the Arlberg as Austria’s biggest ski area. The concrete foundations for the lift have already been laid and it’s anticipated the connecting lift will be installed in the coming year.

Key facts about All-Suite Resort Fieberbrunn:

36 luxury freehold apartments: 1, 2, 3 and 4-bedroom with large balconies
Fully furnished with a choice of interior designs
Onsite bar / restaurant & spa (sauna, steam room), underground parking
Up to 8% return on capital invested when taking out a 55% mortgage or a guaranteed 4% return on net purchase price for first 5 years
1 double bedroom apartment from € 225,000 Net Sales Price excl. parking
Snow-sure: highest snowfall in the whole of Tirol for the last 40 years
Thanks to its backcountry skiing, Fieberbrunn is a mecca for serious powder skiers and for this reason it is on the Freeride World Tour with the likes of Chamonix and Verbier
Completion date of Winter season 2019

All-Suite Resort Fieberbrunn apartments: this type of accommodation (commercially rented apartments) are the fastest growing category of accommodation in Austria – up a colossal 18% according to ORF http://tirol.orf.at/news/stories/2904521/

So, you can be reassured that you are buying into a well-thought-out business model.

Filed Under: All Suite Resorts, Austrian Property, Development News, Fieberbrunn, Rental & management, Saalbach, Summer

All-Suite Resorts will manage your rental

June 8, 2018 By admin

We are delighted to present our All-Suite Resorts brochure which contains information on how the operator manages and rents your apartment for you when you are not there.

A hassle-free management programme which delivers a profit for you.

When you invest in an All-Suite Resort apartment, you don’t just acquire a high-quality property asset – you invest in a lifestyle. Our luxurious apartments provide unbeatable comfort in the most exclusive locations – with the amenities of a top hotel and all the warmth of a home. Better still, you’ll draw an income from the holiday rental of your apartment, and we’ll do all the legwork of managing that rental process for you.

All-Suite Resorts (a subsidiary of the Kristall Group) is a professional team with long-standing experience of international hotel operation, sales & marketing and rental management. Our well-trained, on-site staff are here to ensure that every comfort is provided, to the highest standard.

Our holiday apartments provide a unique combination of stunning design, exclusive luxury and deep relaxation, giving you total privacy and freedom to enjoy your holiday, the way you choose. Our apartments are located in the finest locations in Austria and are designed to the highest quality and specification. Our team is on hand to make planning your individually-tailored holiday easy and to offer a wide range of special services to fulfill your every wish.

PURCHASING

When you buy an apartment for commercial purposes (renting to tourists when you are not there), you are entitled to reclaim the 20% VAT included in the sales price. The prerequisite is that you are able to show a profit from renting over a 20-year period.

HOW RENTING WORKS

Current Tyrolean law states that apartments zoned as tourism residences must not remain empty during the winter and summer tourist seasons and should be let to regularly rotating guests when the owners are not in residence. That’s why All-Suite Resorts was established as the operating company – dealing with the ongoing rental so you don’t have to.

We strive to make you the maximum possible profit through careful occupancy management (i.e. letting to the highest possible number of guests in the most expensive / high demand holiday weeks). The net income from letting your apartment goes into the rental pool (after deduction of the operator’s commission, OTA and credit card payment fees).

At the end of each quarter, the accounts are reconciled, distributing the profits proportionately to the owners based on the price of their apartment in the overall resort and availability of their apartment to rental customers. 14 days later, payment is made to you.

Ancillary services and income such as cleaning, running the shop / restaurant, spa and personal booking by owners are not included in the rental pool calculations.

PERSONAL USAGE

You’ll also have the opportunity to book your own apartment through the All-Suite Resorts booking system. In order to guarantee availability, please notify the booking system of your intended dates of stay at least four months in advance. In the event of short-term notice of a desired personal booking, we will make every effort to accommodate your wishes.

For the period of personal booking, the accrued costs for laundry, cleaning, resort tax, utility services, etc. will be invoiced to you by All-Suite Resorts. For personal booking, a notional admin fee of €150 per stay is charged.

During this period of personal usage, the owner is excluded from the rental pool and thereby draws no share in the distribution of rental income.

During your stay, your personally allocated parking space(s) will be reserved for you and your party.

MAINTENANCE

As a commercially rented apartment, both maintenance and upkeep are guaranteed by All-Suite Resorts. All operating and maintenance costs are prescribed to the apartment owners. Cleaning and maintenance is undertaken by our teams in order to ensure a professional and uniform standard throughout the resort.

In all our apartments, interior design and furnishing are to the highest standards of quality, specification and taste – individually tailored to the various design themes we offer.

LIVING ROOM
Includes large dining table and chairs, sofa, TV, cosy rugs, stylish curtains, cushions, fireplace and much more…

BEDROOMS
Spacious bedrooms with comfortable beds, large fitted cupboards and a safe. Curtains and furnishings are of the highest quality.

BATHROOMS
Available with either shower or large bathtub. Included are hair dryer, high-quality stone tiling on walls and floor, luxury taps and fittings.

BALCONY AND GARDEN
Splendid views are a top priority for us – as is your comfort and convenience. Balconies are cleared of snow and equipped with outdoor furniture. The garden areas are maintained by our own gardeners.

KITCHEN
Fully-equipped kitchens designed and installed to the highest expectation. Included are dishwasher, cooker, fridge / freezer, toaster, kettle, coffee machine, pots and pans, crockery, cutlery, kitchen knives, glasses for water and wine and much, much more.

EAT | MEET

Spontaneous and relaxed

Our stylish, relaxed restaurant blends good food with a spontaneous and friendly living-room atmosphere. If you prefer to cater for yourself, our shop has everything you will need to buy for your stay without having to leave the resort. You’ll also find exclusive regional products, either for your own personal enjoyment or to take home as souvenirs.
If you don’t feel like cooking, no problem. You can have breakfast here or lunch, snacks and homemade cakes in the afternoon.

Complete relaxation

Above all, our resorts are custom-designed for your comfort and relaxation. You can unwind in a variety of quiet areas or recharge and detox in one of our many saunas and steam rooms. A number of our properties boast luxurious spas and swimming pools – with both indoor and outdoor pools and sunbathing lawns. All apartments have hand towels, bathing and sauna towels at your disposal, so that’s one less thing to think about.

FROM THE MOMENT YOU ARRIVE

Fluffy hand-towels and a full refrigerator are standing by with a welcome pack for breakfast or a tasty meal.

You can choose from a wide range of possibilities: simply tell us your wishes and we’ll fulfil them. That way, your holidays begin the way you want them to. From the moment you arrive.

FINAL CLEANING
obligatory, from € 100

INTERIM CLEANING
with fresh laundry supplies, from € 100

ADDITIONAL SERVICES
Bed linen (obligatory)
Baby bed including bed linen
High chair

ADDITIONAL HOTEL SERVICES

Basic Cleaning Kit includes Dishwasher tablets / Washing-up liquid / Dish towels / Waste disposal bags

Welcome basket
Standard basket includes salt, pepper, coffee, tea, sugar, oil and vinegar € 25

Stocked refrigerator
Available subject to prior arrangement – minimum 7 days before arrival.

Filed Under: All Suite Resorts, Rental & management

Bellevue Best Property Agents 2018

December 19, 2017 By admin

Kristall Spaces has been awarded the Bellevue magazine Best Property Agents 2018 seal of approval. Only a select group of international real estate agents are awarded this title.

Branson Atterbury, Marketing Director at Kristall Spaces AG commented: “We had a compelling proposition for the Bellevue panel of judges. We are the developer, agent and operator and thus provide a rare, end-to-end service: construction, marketing in German, Dutch and English, legal and financial advice to buyers and maintenance and a rental service on behalf of owners. Our key personnel are court sworn experts for the Bundesministerium für Justiz in planning, construction, engineering and property consultancy.”

It is this end-to-end proposition that allows us to understand all parts of the value chain and makes us even more effective at advising customers on acquiring their dream lifestyle investment.

Kristall Spaces AG has a current pipeline of developments worth in excess of €100m and an impressive portfolio of projects including:

All-Suite Resort Fieberbrunn (Skicircus Saalbach Hinterglemm Leogang / Kitzbühel Alps) All-Suite Resort Karwendel
All-Suite Residence Kühtai
Silva Peak Residences, Ischgl
All-Suite Resort Paznaun, Ischgl
All-Suite Resort Ötztal
Residenzen Gasthof Zwieselstein, Sölden
Mountain Spa Residences, St Anton
Mountain Lake Resort, Zell am See
Residenz Zwieselstein, Sölden
Residenz Sölden

Filed Under: All Suite Resorts, Austrian Property, Bellevue Best Property Agents 2018, Development News, Fieberbrunn, Galtür, Ischgl, Karwendel, Kühtai, Oetz, Rental & management, Saalbach, Sölden, St Anton, Zell am See

Buying new build property in Austria

December 5, 2017 By admin

Austria is already the first choice for affordable ski properties, higher rental yields and authentic hospitality when compared to France and Switzerland but how does one decide on the type of property to buy: new-build or resale?

Here are some options to consider:

New-build or off-plan property in Austria normally comes with a higher price tag per m² and will further increase in value as soon as you take ownership. Typically, we see a 4 to 5% annual growth on our ski apartments and this can be higher in some locations in Tirol thanks to scarcity restrictions to avoid the “cold beds” trends found in France and Switzerland. According to the UBS Alpine Property Focus 2017, St Anton delivers best growth in the Alps at 8.2%.

So, you might have to increase your budget for a new-build but here’s a few reasons why it’s worthwhile.

New developments present an opportunity to buy into the project early increasing your chances of securing one of the best units at the lowest price and improving capital appreciation. Note that developers can increase their prices year-on-year and as the project gains interest demand starts to rise.

Importantly, smart new build projects are carefully chosen by a developer for their location and access to ski lifts / pistes and restaurants and can command a rental premium over resale properties.

New property buyers aren’t in a chain and there is less reliance on the current owner / vendor which means less chance of the sale falling through.

Buying off-plan offers attractive payment schemes which don’t exist with resale properties: you pay for your apartment in stages. The trustee will notify you in good time when each stage payment is due so you have time to prepare the transfer of funds – no need to transfer all at once. This can be particularly advantageous when using a currency service.

There is also flexibility when dealing with the developer over factors such as parking spaces and choice of furniture packs and when there is joint ownership of the operating company for your apartments, it is possible for the developer to guarantee rental returns for a period during the operating agreement e.g. guaranteed 4% return on net purchase price for first 5 years.

When you buy off-plan in Austria, you get a certain amount of control over the interior of the apartment. There is range of interior themes and styles to choose from and because you are dealing with the developer it is possible to make minor changes to the floor plans in the early stages of the project.

All new properties built in Austria use state-of-the-art, energy efficient methods and materials that you will simply not find in resale buildings. Greener energy solutions, more efficient heating systems and some of the highest recycling standards in Europe not only reduce your carbon footprint but lower bills.

All Kristall Spaces’ developments use automatic central heating systems with air or water sourced heat pumps. Energy is also captured from the spa and bathrooms areas to generate warmth in the underfloor heating systems via heat exchangers and our ventilation systems use the same heat recovery principles to pump fresh air into the apartments at the correct room temperature. All this results in monthly heating cost savings for owners when compared to oil or gas and delivers a greener, more sustainable solution.

New properties in prime Austrian ski resort locations that come with a rental obligation when owners are not staying there themselves are exempt from VAT. You can save a whopping 20% on the sales price when you opt for one of these apartments.

New properties come with building guarantees. For example, we negotiate with tradesmen and suppliers for the following:

10 years for the roof covering
5 years for the mechanical systems (heating, electrics, lifts)
5 years for the remaining works including the shell of the building
2 years for electrical goods

Furthermore, Austrian Building Law allows for a 30-year Statute of Limitations for all hidden defects.

Please see our generic FAQ about buying and owning property in Austria or why not Contact us for advice on your Austrian property search.

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

St. Anton tourist numbers up Winter (3%) & Summer (10%)

September 13, 2017 By admin

The St. Anton tourist office recently confirmed a 3% rise in last winter’s visitors year on year and a 10% rise in summer visitors in 2017.

This double digit growth is down to the Austrian’s success at marketing themselves more effectively as a year-round destination, in turn attracting a more diverse visitor base (the Millennials in particular).

With all the ongoing infrastructure investment and demand from a more international customer base, there is room for upward price movement: 8.2% in St. Anton according to UBS.

At Kristall Spaces, we have been conservative in our Mountain Spa Residences St Anton rental projections and do not include any summer rental income in the average 3.6% return calculated.

We have just loaded new photos to our website from some of the unsold 2 and 3 double bedroom apartments.

Please see the link https://propertysaleaustria.co.uk/st-anton/st-anton-construction-news/

From these images, you can appreciate the 180 ͦ views from the apartments up and down the Rosanna valley: from the East and St Jakob, across the fields to the South and Rendl and finally to the West and the village.

The photos give a good sense of the position of Haus A and the unobstructed views over Haus B which is lower down the slope. The photo below is taken from the old Haus A looking South West over Haus B towards Rendl (click to enlarge).

We are on schedule for handover at the beginning of the ski season in December 2017 and there is some hope from the meteorologists’ predictions of a colder winter this year!

Time will tell.

Filed Under: Austrian Property, Development News, Rental & management, St Anton, Summer

Kühtai apartments get highest customer reviews: 9.6 Exceptional

August 24, 2017 By admin

We are delighted to report that the Kühtai 2020 Residences built and sold by Kristall Spaces and operated by our sister company All-Suite Resorts all-suite.com have received the highest customer review scores in Kühtai in only their first 7 months of operation.

Kühtai 2020 Residences have scored 9.6 and been classified as Exceptional.

An impressive result considering that the aparthotel is still in its first year establishing itself in the market. All the customer comments have been 100% verified by Booking.com as real customers and can be reviewed on this link

A summary of the customer comments about the apartments is provided below:

The location of the apartments often scores 10 out of 10 (ski in and out, opposite ski shop and ski school and next to one of the best restaurants in the village)
Customers love the south-facing views and balconies
The quality of the interiors, the comfort and cosiness
Parquet floors and high-end finishes and equipment e.g. Miele kitchens, Hans Grohe bathrooms
Sound proofing and privacy – no noise from neighbours
Lift and free parking right outside

Summary of customer comments about the operator All-Suite Resorts and its service:

The professionalism and friendliness of the All-Suite Resorts staff
Cleanliness of the apartments
The quality of the free WIFI service
Large sauna and steam bath running from 17h00 to 20h00

There are 5 apartments still available which have not been rented out and are in pristine condition waiting for new owners to occupy them.

Our sister company All-Suite Resorts is offering a guaranteed 4% net return for first 3 years and with the winter and summer visits to Kühtai growing each year and future lift expansions planned, buyers can be assured of a low-risk and hassle free investment.

Please don’t hesitate to contact us should you have an interest in one of our last 5 apartments.

Key facts about Kühtai 2020 Residences:

5 apartments left for sale and ready to be occupied
Completed December 2016
Luxury apartments in Austria’s highest ski village
Ski-in, ski-out
On-site wellness: sauna, steam room and relaxation area
Managed rental service to cover running costs
Prices start at € 379,890.00
Guaranteed 4% net return for first 3 years

Filed Under: All Suite Resorts, Austrian Property, Development News, Kühtai, Rental & management, Summer

Der Standard (Wien): Buy to let property in Austria is a “win-win”

June 30, 2017 By admin

A good analysis of the current buy-to-let model in the Austrian Alps and how many British, Germans, Austrians, Dutch and Belgian buyers are investing in Tourism Residences in Austria encouraged by returns of 4 to 4.5% and freedom to use their apartment and sell it in a market offering price growth. (Knight Frank says property prices grew 4.6% in Q1 in Austria and Immodex is reporting a 34% increase in prices since 2010).

It’s becoming increasingly difficult to buy Leisure Residences in dual season resorts in Tirol and the buy to let model favours investors in these locations (Oetz and Fieberbrunn receive 45% of all their visitors in Summer) as well as the local councils.

Der Standard – 27 Juni 2017

According to the author, it is crucial that apartment owners and the Gemeinde (council) have an operator in place for at least 5 years to ensure year-round visitor numbers continue to grow and support continual investment in infrastructure and amenities.

According to Statistik Austria, professionally rented apartments are also the fastest growing category of accommodation sought by tourists at 9.4% growth year on year.

The management of Kristall Spaces has launched its own operator All Suite Resorts all-suite.com to provide an end-to-end management and rental service for buyers of our apartments.

All Suite Resorts is planning to offer guaranteed returns across all its project locations going forward.

Please contact us today for more information.

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

News: soft Brexit & Austrian property price growth (4.6%)

June 9, 2017 By admin

Europe woke up to a surprise this morning.

The UK Conservative Party failed to gain a bigger majority in the UK General Election meaning its position and authority is automatically weakened in its plans to negotiate a hard Brexit (where the UK gives up full access to the single market and takes control of its borders).

This election was basically a public referendum on how the UK conducts its negotiations with the EU and now a softer Brexit deal is more likely.

A soft Brexit is preferred by many ‘Remainers’ in the UK (remember that the referendum to leave the EU resulted in a very narrow margin of 52% leave to 48% remain).

It increases the likelihood that the UK will continue to access the single market without tariffs and will remove many doubts over London’s financial hub status.

The status of EU nationals moving across boarders will probably remain unchanged, although this has never been a factor preventing buyers outside the EU buying and owning property in Austria.

We have many buyers from countries outside the EU e.g. Australia, South Africa, Norway and the US.

Economically, the UK and Europe are looking at a period of greater economic stability compared to the disruption of a hard Brexit. The Pound will benefit and so will those buying Austrian property in Sterling.

Meanwhile, Austrian property’s reputation as a safe-haven investment has further been enhanced as it continues to record growth of 4.6% in Q1 2017. It outperformed France (2.9%) and Switzerland (2.4%), according to the Knight Frank Global House Price Index.

knight frank

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