The event hall in the Promenade Galleries was filled to capacity on Friday: numerous visitors took the opportunity to find out about the sale and rental of real estate, financial and legal precautions and everything to do with inheritances and donations at the real estate and pension day .
The OÖNachrichten and the Upper Austrian Chamber of Notaries organized the day for the sixth time, together with the partners Athos Immobilien, Ditachmair & Partner, WSG, Neue Heimat and Hypo Oberösterreich.
Notaries advised visitors on how to arrange personal matters so that their own ideas become reality. “Those who take their precautions into their own hands when they are healthy will not be dependent on third parties later,” said Friedrich Jank, President of the Chamber of Notaries. He advocated bringing the issue of precaution into families, also because district courts are often overloaded. Notaries are also concerned with increasing digitalization, which brings significant time savings. Around 90,000 probate proceedings are carried out in Austria every year. Many questions have been asked about inheriting and giving, especially when it comes to passing on real estate.
Taxes and real estate
Property and rental were also topics: the situation on the real estate market has not yet recovered; the number of transactions in Austria fell to around 48,000 in the first half of the year. There is usually no simple answer to the question of what tax obligations – such as real estate income tax – apply to sellers. Numerous detailed questions play a role.
The precautionary discussion also attracted great interest. There are currently 444,000 health care powers of attorney and different types of adult representatives registered in Austria. This allows people to decide for themselves
whoever takes responsibility for their affairs should no longer be able to do so. Notary substitute Doris Gundendorfer encouraged the audience to think about the future: “A young person can also have a serious accident, it can happen to us at any time.”
What you need to consider when renting, buying and selling
While the real estate business in the luxury segment did not record any declines, there were significant upheavals in medium-priced apartments and single-family homes. “Anyone who wants to sell a single-family home today often has to wait a year or longer until they find a buyer,” said tax advisor Bernhard Ditachmair.
The WSG is also feeling the change in the situation: According to Thomas Leibetseder, head of the rental and sales department, there is less fluctuation due to increased rents. “People stay in the apartments they have.” However, the demand for living space in the central area remains unbroken, and rent-to-own is an attractive option. “Affordable housing is essential for society,” said Neue Heimat managing director Martin Steiner. He is calling for an increase in housing subsidies, which have declined sharply in relation to gross domestic product. Steiner supports permanent tenancies: The tenants’ commitment to the apartment is then higher, and the landlord also benefits from this. A fixed-term tenancy can also have advantages for tenants, said notary partner Hubert Pühringer: “If the standard rent applies, a statutory deduction is provided.”
The market will pick up again, said Pühringer. Increased interest rates and stricter lending rules have curbed demand, but there is now also the incentive of fee exemptions under certain conditions.
When calculating taxes, very precise research is often required, said tax advisor Ditachmair. The real estate income tax on the profit from the sale of a property is generally 30 percent. However, there are differences depending on the use and date of sale as well as exceptions.
“}”>
Image: VOLKER WEIHBOLD
Source: Nachrichten
