Brief details of the subsidies available to property purchasers who buy renovation properties in Lower Austria - Niederösterrech.
Grants and Subsidies
The government of Lower Austria is currently offering very generous grants to those who buy and renovate residential and other properties.
Grants are available in other areas of Austria but we are talking here specifically about Lower Austria - Niederösterreich - as all the provinces of Austria are self-governing and different laws apply.
With prior approval, they will pay up to 50% of the cost of installing insulation - including thermally efficient replacement windows - and also for the cost of installing energy saving central heating such as "pellet" ovens which are fuelled from renewable energy sources. The project has to be discussed with them first and before the work begins.
They will also offer very low interest subsidised loans through a local bank. Bank lending a is also not so tight as in other areas of Austria and local banks will favourably consider mortgages with lower deposits.
Loans for energy efficient homes
Not just to Austrians but to anyone!
Such subsidies would also be available to anyone upgrading holiday letting accommodation as well as to those planning on buying an older Bed & Breakfast or hotel property.
The grants are available not just to Austrians but to anyone planning to buy a property for renovation. Also, there is no requirement that you live in the property yourself and so you are free to let it long term and allow the rental income to pay off the loan.