The demand for property continues at record-breaking levels. Furthermore, it will continue to rise in lock-step with the population of nearby congested areas. For example, Upper Bavaria is forecast to have “significantly increased population density by 2030” according to the Census Office. Thus, the desire for a second residence in a rural area is quite understandable.
Offerings of land are rare, however. And not every property will make it to market in the next few years, such land often being held as a secure investment.
As the result of a nearly “sold-out” market for such land, potential purchasers often show interest in acquiring land which has already been built on.
Acquiring built-on pieces of land has the advantage of not having to start construction by a certain deadline. Moreover, development costs for existing buildings can be written off the new construction. The disadvantage: additional demolition costs.
What matters most is: before purchase, all conditions and circumstances need to be precisely analysed by professionals in order to take all legal and technical aspects into consideration and thus, spare yourself unwelcome surprises.
Dr. Christian Neumayr MRICS
Member of the Royal Institution of Chartered Surveyors
Immobilientreuhänder und Gerichtssachverständiger
A-6380 St. Johann
T +43 (0)664 530 73 73