The Austrian government plans to abolish the tax on the purchase of real estate for those who purchase their first home. This proposal was made by the country's Chancellor Karl Nehammer.
The tax paid by buyers of apartments and houses is 3.5% of the value of the object.
With this measure, the Austrian authorities want to make real estate more affordable.
In recent years, buying a home has become difficult for many people due to high mortgage interest rates, rising prices per square meter, as well as stricter requirements for loan applicants. Due to all these reasons, sales volumes in the real estate market have decreased.
Source: Bloomberg Tax
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