Goodbye to fees: Saving on land register entries
Say it three times in quick succession: lien registration fee, lien registration fee, lien registration fee. A real tongue twister, we can all agree on that. Just as well that you don't have to memorise it for a while. We'll explain why!
In March 2024, the Austrian National Council decided that, under certain conditions, no fees would be charged for registering the title and - in the case of loan financing - the lien in the land register when purchasing residential property. A very welcome relief measure of up to 2.3 per cent in times of rising interest rates and high construction costs.
Did you already know? In addition to an excellent design and best brand quality, Glorit now also allows you to enjoy an attractive price advantage. How? It's very simple: If you decide on a Glorit apartment or a Glorit house by October 26th, we will grant you a 3.5 % reduction in the amount of the land transfer tax. In addition to the registration fees (1.1 % for land register plus 1.2 % for lien) and estate agent fees (up to 3.6 % of the purchase price; not applicable to Glorit), you save up to 9.4 % of the purchase price. Questions? We got you covered - feel free to contact us at any time at verkauf@glorit.at. If you need us a little faster, we are there for you on 0810 / 311 900 - 7 days a week, even in the evening. |
Waiving of registration fees: What does this mean in concrete terms?
If you conclude a purchase agreement for a property after 31 March 2024 and your application for entry in the land register is submitted between 1 July 2024 and 1 July 2026, you are exempt from 2.3 percent of the ancillary purchase costs. This applies to the registration fees for the right of ownership (1.1 per cent of the purchase price) and the lien (1.2 per cent of the loan amount), provided you meet the following requirements:
- Main residence: The apartment or property you purchase must be your main residence. You must prove this by submitting a corresponding notification. If you previously lived elsewhere, you must confirm that you are giving up this right of residence.
- The property in question must be lived in for 5 years after entry in the land register. If the house or apartment is sold or given up as your main residence before then, the fee will be charged retrospectively.
- Financing: The loan you take out to buy or build your own home must be secured by a lien, which must be entered in the land register. This means that the loan may only be used for the purchase, construction or renovation of your home. Your bank must confirm this. In any case, you are exempt from the corresponding registration fee for the time being.
Limits of the fee exemption
The exemption from fees applies to purchase prices up to an assessment basis of 500,000 euros. However, if two people buy a property, this upper or exemption limit is doubled to 1,000,000 euros. If the purchase price exceeds this amount, you have to pay fees for the excess amount. If the purchase price is over 2 million euros, i.e. for so-called luxury properties, there is no exemption from fees.
Attention: Repayment of fees
If you sell your home again within five years of buying it or give it up as your main residence, the previously waived fees must be paid in arrears. But don't worry, experience shows that people are reluctant to part with Glorit houses and apartments.
