Property Investment Case Study: Austria (TPI-AU-001)
Introduction:
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Location:
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Economy:
<p>Austria, with its well-developed market economy and high standard of living, is closely tied to other EU economies, especially Germany's. The Austrian economy also benefits greatly from strong commercial relations, especially in the banking and insurance sectors, with central, eastern, and southeastern Europe. The economy features a large service sector, a sound industrial sector, and a small, but highly developed agricultural sector. Membership in the EU has drawn an influx of foreign investors attracted by Austria's access to the single European market and proximity to the new EU economies. The current government has successfully pursued a comprehensive economic reform program, aimed at streamlining government, creating a more competitive business environment, further strengthening Austria's attractiveness as an investment location, pursuing a balanced budget, and implementing effective pension reforms. Weak domestic consumption and slow growth in Europe have held the economy to growth rates of 0.4% in 2002, 1.4% in 2003, 2.4% in 2004, and 1.8% in 2005. To meet increased competition from both EU and Central European countries, particularly the new EU members, Austria will need to continue restructuring, emphasizing knowledge-based sectors of the economy, and encouraging greater labor flexibility and greater labor participation by its aging population. </p>
Property Market:
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Examples:
Attractions:
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Transport Infrastructure:
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Local Mortgage:
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Inflation:
2.3%
Economic Growth:
1.9%
Sunshine Days:
No data available
Annual Rainfall:
1,016 and 1,270 mm
Temperatures:
Winter: -3 to 2 C
Summer: 15 to 25 C
Property Price Inflation:
No data available
Local Currency:
Euro
Cost of Living Index:
No data available
Income Tax:
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Property Tax:
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Capital Gains Tax:
No data available
Buying and Selling Costs:
No data available
Rental Yields:
No data available
Report Compiled By:
The Property Investor Magazine
To download this case study in a handy pdf format use the link below:
Download Case Study TPI-AU-001
Report ref: TPI-AU-001
Date created: 12-03-2006
