Austria is a prime holiday spot in the European community in this day and age. Indeed, Austria has been a haven for travellers and tourists for many, many years. With this in mind, a goodly share of the real estate that is trading on the marketplace at this point in time involves property that is intended for vacation and holiday purposes.
Many foreign nationals who are purchasing vacation or holiday real estate in Austria actually are finding these purchases to be rather lucrative. For example, these foreign nationals are buying real estate — purchasing vacation properties — that they then utilize in part for their own holiday purposes. However, in addition to using these properties for their own personal holiday purposes, many foreign nationals have commenced the practice of renting or leasing these properties to other people. It is this letting process that has proven profitable over the course of the past couple of decades for an ever growing number of foreign buyers.
Most real estate experts who have spent any time analyzing and considering the market in Austria have concluded that this trend will continue well into the future. Because buying and then renting vacation property has proven to be a solid and profitable investment for so many people, even more foreign nationals are attracted to such real property ownership all of the time. This factor, coupled with the tax benefits to be realized by holding onto real estate for a period of at least ten years, has rendered these investments truly sought after at this point in time.