The Purchase (does not include inheritance) of real estate in Austria by non-EU nationals is restricted. Jurisdiction regarding real estate transactions will continue to fall under the responsibility of individual provincial (Länder) governments. In general, real estate purchases by non-EU citizens are either prohibited or must be approved by a governmental commission. Any real estate agent in Austria should be able to provide you with the details of local requirements and conditions.
All real estate transactions in Austria have to be recorded in the real estate registry (Grundbuch), which is kept at federal district courts. The purchase of real estate is subject to a purchase tax of 8 percent or 2 percent for close relatives. A property tax and a real estate tax are levied annually on the assessed value of the real estate. Detailed information on this kind of taxation is best to be obtained from the local revenue offices (Finanzämter) in Austria.