Brief details of the subsidies available to
property purchasers
who buy renovation properties in Lower Austria - Niederösterrech.
Details of the planned motorway route to this area.
The government of Lower Austria is currently offering very generous
grants to those who buy and renovate residential and other properties.
Grants are available in other areas of Austria but we are talking here
specifically about Lower Austria - Niederösterreich - as all the
provinces of Austria are self-governing
and different laws apply.
With prior approval, they will pay up to 50% of the cost of installing
insulation - including thermally efficient replacement windows - and
also
for the cost of installing energy saving central heating such as
"pellet" ovens
which are fuelled from renewable energy sources. The project has
to be discussed with them first and before the work begins.
They will also offer very low interest subsidised loans through a local
bank. Bank lending a is also not so tight as in other areas of Austria
and local banks will favourably consider mortgages with lower deposits.
Such subsidies would also be available to anyone upgrading holiday
letting accommodation as well as to those planning on buying an older
Bed & Breakfast or hotel property.
The grants are available not just to Austrians but to anyone planning to
buy a property for renovation. Also, there is no requirement that
you live in the property yourself and so you are free to let it long
term and allow the rental income to pay off the loan.
This is a super opportunity.
Another reason to consider buying in the very attractive area
of Niederösterreich particularly around the towns of Zwettl, Gmünd,
Waidhofen an der Thaya and Horn is that a new motorway is planned which
will link up Vienna with the Czech republic.
This will allow residents of the Austrian capital Vienna to buy cheaper
properties in this area and commute easily and quickly into the city.
It also means that property prices in the area are likely to rise in the
coming years and the area currently makes very good investment sense.
The new motorway is planned somewhere along the red line on the map
below.
