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.
In spring 2020, the legislature put a protective shield over apartment tenants to prevent the Corona crisis from also having a negative impact on the housing situation of affected tenants. Since some of the measures taken - for example the statutory deferral of rental fees - expire at the end of 2020, the Minister of Justice announced today, December 2nd, 2020, that this period will be extended to March 31, 2021.
It is common practice for transactions relating to the purchase of real estate to be conducted by an escrow agent. In the case of multilateral trusts, one escrow agent administers the trust established by several trustors who may have opposing interests.
The District Court of Meidling in Vienna has become the first court to rule on the obligation of a commercial tenant to pay rent during the lockdown in the spring of 2020.
Due to the serious financial losses, various hotel lessees are currently approaching their lessors with a request for the deferral or abatement of rent payments.
The Czech government will help businesses affected by the COVID-19 measures cover their rent payments.
To protect residential tenants during the Corona Crises from negative effects the legislator has provisioned special legal amendments.
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.
