Right of residence as a long-term investment / Bright 2-room apartment in the center of Favoriten
Apartment for sale in 1100 Wien
For sale is a well-designed 2-room apartment in the heart of Favoriten. The apartment covers an area of just under 53 m² and is partially centrally accessible, consisting of an entrance hall, kitchen, 2 rooms, bathroom, toilet, and a storage room.
The well-thought-out spatial concept, the optimal floor plan, the open and bright ambiance, as well as the good location make the apartment a feel-good oasis right in Favoriten.
Building:
The common areas of the building are in good condition.
Residential rights holder:
Age 78 years, male.
What is a residential right?
A residential right in Austria allows a person to use an apartment or house without being the owner of the property. When the residential right expires or the person moves out, the property is available to the owner free of burdens. The residential right cannot be transferred or inherited.
What is the difference from a rental agreement?
A rental agreement is a contract where one person uses a property in exchange for rent, while a residential right is a usage right acquired without paying rent. Unlike an unlimited rental agreement, there are no entitled persons for a residential right.
Why is this model interesting for you as a buyer?
You have the opportunity to acquire the apartment at a significant price discount. Once the residential right is no longer in effect, the value of the property instantly increases many times over.
Current purchase price: €2,800/m² → estimated vacant sale price as of March 30, 2023: €3,800/m² - €4,350/m²
Advantages of the residential right for you as an owner?
In summary, granting a residential right offers the owner the opportunity to maintain control over their property, avoid vacancies, take advantage of tax benefits, and prevent potential disputes from possible entitled persons or inheritance disputes. The residential right is registered in the land register and must be observed by law.
What monthly costs do buyers incur?
Approximately €48 for repair reserves
Operating costs are covered by the residential rights holder.
Location and transport
In the 10th district of Vienna, urban living meets a cozy cosmopolitan lifestyle. The streets of the district are lined with small, family-run businesses, picturesque parks, and charming cafés, all contributing to a sense of home for the residents. The apartment itself offers optimal local supply as well as very good access to public transportation. Charming parks, supermarkets, restaurants, bars, and pharmacies are all within walking distance. In addition to bus lines 7A (Meidling Hauptstraße / Reumanplatz), 65A (Inzersdorf / Reumanplatz), and O (Raxstraße / Krakauer Straße), the subway line 1 (Leopoldau / Oberlaa) is available. Educational institutions are also in the immediate vicinity. The Bernhardtstalgasse elementary school, the higher federal vocational school for economic professions, and the Laimäckergasse elementary school are within walking distance. The shopping and retail opportunities are also quite good. Within a 5-minute walking radius, you can reach daily necessities such as Billa, Spar, Penny, and the drugstore DM. Despite the urban infrastructure, Favoriten places great importance on green spaces and parks such as Leopold-Rister-Park, Bruno-Kreisky-Park, and Waldmüllerpark. The synergy of urban quality of life and Viennese charm makes the district unique and perfect for those seeking a place with growth potential.
Elijah Euler-Rolle
Berater | Consultant
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Price details
- Purchase price:
- €149,000.00
- Net operating expenses:
- €68.88
- Net heating costs:
- €28.64
- Net hot water costs:
- €12.28
- Net reserve for repairs:
- €47.74
- Net elevator costs:
- €15.41
- Net miscellaneous expenses:
- €31.35
- Value added tax:
- €15.39
- Brokerage:
- Yes
- Brokerage:
- 3% of the purchase price plus 20% VAT.
Facts
- Property number:
- 41855
- Property type:
- Apartment
- Living area:
- 52.88 m²
- Rooms:
- 2
- Bathrooms:
- 1
- Toilets:
- 1
- Floor:
- 1st floor
- Year of construction:
- 1972
- New building:
- Yes
- Availability:
- Active
Features
- Floor:
- Tiled floor, Hardwood floor
- Elevator
- Heating:
- Floor heating, gas
Energy efficiency
- EPC type:
- Energy requirement certificate
- Date of expiry:
- 04.07.2025
- Heating energy demand:
- 75.2 kWh/(m²*a)
- Heating energy demand class:
- C
- Total energy efficiency factor:
- 1.99
- Total energy efficiency factor class:
- C