The CERHA HEMPEL Real Estate Insider provides an insight to the real estate industry in Austria and CEE. Besides reviews on case-law and legal developments, the Real Estate Insider covers all aspects affecting the industry including market trends and insights, project and deal reviews, reviews on political and legislative developments, reports on events etc. As one of the leading real estate practices in Austria and CEE, our team is fluent in advising clients on all aspects of real estate law from cross border portfolio transactions to building organizer projects to rental agreements and constructions matters, you name it.
The planned amendment of the Viennese Building Code (under assessment since April 27th 2020), sets forth that in case of the construction of new residential buildings, solar energy sources are mandatory. In case of newly constructed commercial buildings this obligation already exists since 2014.
Whether you are a landlord or a tenant, you may be affected by the current directive of the Federal Ministry of Health and Social Affairs that certain businesses, mostly retail shops, may not be entered by customers for shopping purposes. This restriction is in force until 22 March 2020, but it may be assumed that this measure will be prolonged.
Austrian real estate transfer laws – which are enacted and adopted by each of the nine provincial legislators due to its constitutional classification as a federal competence – provides for individual restrictions in the form of approval or notification requirements for the acquisition or transfer of rights to real estate by nationals or third country nationals. While British nationals have to date been treated equally to Austrian nationals given their status as citizens of the European Union, their equal treatment under the laws could end after Brexit.
