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Real Estate & Construction Law Firm in Austria

European and Austrian real estate law

Thanks to our many years of experience in construction procedures and providing legal advice during construction, our qualified experts are able to use tried and tested techniques and standards to carry out efficient project and, if necessary, damage management. Due to the size of our teams, we are equipped to handle large projects and construction procedures efficiently and successfully.

Construction procedures and legal advice during construction

With Austria's most experienced lawyers in the field of real estate & construction contract law and over 450 lawyers in 42 countries, we offer systematic legal advice across national borders, coordinated from the home market. Our experts can support you in the following areas:

  • construction projects,
  • purchase and sale of projects and real estate,
  • project development,
  • public building law,
  • flats,
  • hotels,
  • infrastructure projects,
  • nursing homes,
  • offices,
  • logistics,
  • renewable energy, and
  • student hostels.

Legal advice on the purchase and sale of real estate

If you are developing a construction or real estate project, buying or selling one or more properties, setting up or managing a real estate fund or setting up a joint venture in the real estate sector, our real estate and construction project experts can provide comprehensive legal support. For example, we will be happy to advise you on any questions you may have regarding:

  • efficient contract drafting for the purchase and sale of real estate projects,
  • tenancy law, lease contracts, operator and management contracts
  • public building law,
  • tax questions on construction and real estate projects (real estate taxes),
  • legal questions regarding planning (architectural law) and project structuring, and
  • construction management as well as warranty and damage management.
Are you looking to develop a real estate project in Austria? We have created the Real Estate Road Map Austria as a compact guide to help you navigate the legal jungle—from project conception to realisation:

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Real Estate Road Map Austria
Your guide to real estate development in Austria

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24/05/2024
Real estate finance law in Austria
A. MORTGAGES  1. Can security be granted to a foreign lender?  Yes. There are no restrictions on the registration of mortgages for foreign lenders.  2. Can lenders take a mortgage over land and buildings...
23/04/2024
Real Estate Road Map Austria
Your guide to real estate development in Austria
15/03/2024
CMS advises Sfakianakis Group on the acquisition of Ajar Car Rental
Press release - 15 March 2024 CMS Austria has advised the Greek Sfakianakis Group on the acquisition of Ajar Car Rental GmbH from the Saudi Arabian Al Jomaih Group, providing comprehensive legal advice on the project. Ajar Car Rental GmbH is the master franchisee of Enterprise, National, and Alamo in Austria, serving rent-a-car customers across the country. During the acquisition, the CMS Austria team provided significant support and advice on all areas of the transaction, including due diligence, employment, regulatory compliance, intellectual property, banking and finance, data protection and competition. Alexander Rakosi (Partner, Corporate/M&A) led the CMS core transaction team, which further consisted of Christoph Birner (Associate, Corporate/M&A) and Thomas Liegl (Associate, Corporate/M&A). Alexander Rakosi comments: “We are very pleased to have successfully supported the Sfakianakis Group on its market entry into Austria and to have contributed to our client's continued growth in the automotive industry."The CMS due diligence team included Rebecca Herlitz (Associate, Corporate/M&A), Mariella Kapoun (Partner, Real Estate), Hans Lederer (Partner, Intellectual Property), Andreas Lichtenberger (At­tor­ney-at-Law, Data Protection), Caroline Pavitsits (Associate, Employment), Kai Ruckelshausen (Partner, Banking & Finance), Sheldon Sookdeo (Associate, Banking & Finance), Maximilian Uidl (Associate, Real Estate), Marlene Wim­mer-Nistel­ber­ger (Partner, Regulatory), Jens Winter (Partner, Employment) and Dieter Zandler (Partner, Competition), as well as legal trainees Roman Namestek, Ferdinand Sima and Mattias Torggler. PHH Rechtsanwälte, led by Rainer Kaspar and Philip Rosenauer, provided legal support to Al Jomaih. About Sfakianakis Group Founded in 1958, Sfakianakis Group is one of the leading diversified business groups in Greece, with a core focus on the Automotive, Industrial and Consumer Retail sectors. Headquartered in Athens, Greece, the Group is 100% family owned and employs over 1,500 individuals across 14 countries in Europe. Within the Automotive sector, the Group operates one of the largest automotive retail businesses in the region, the distribution businesses of BYD and Suzuki, a leading long-term leasing business (Executive Lease), and a rapidly growing Rent-A-Car business as the Master Franchisee of En­ter­prise-Na­tion­al-Alamo in 14 countries.
01/03/2024
Pre-conditions to arbitration and the FIDIC 2nd Edition
Amendments to the FIDIC 2nd Edition contracts published in November 2022 have narrowed the definition of “Dispute” to more closely align it with the pre-conditions to DAAB and arbitration proceedings...
23/02/2024
The CBAM – what is it and how will it affect the market?
Regulation (EU) 2023/956 establishing a carbon border adjustment mechanism (CBAM) entered into force on 17 May 2023. The implementation of the CBAM has been divided into a transitional period (from 1...
19/01/2024
CBAM: Just over a week to comply
As the deadline for the first Carbon Border Adjustment Mechanism (CBAM) report approaches on January 31st, it is crucial for undertakings engaged in importing relevant goods into the European Union to...
01/11/2023
Delay claims under the FIDIC form: Obrascon challenged
A recent decision of the Court of Appeal of the Dubai International Financial Centre has adopted a stricter interpretation of the requirements for notifying delay claims under the FIDIC form, disagreeing...
04/10/2023
ESG as the new imperative in real estate
Environmental, social, and ethical criteria will define the future of Austria’s real estate sector
02/10/2023
Expert Guide on ESG in Real Estate in Austria
De­veloper­In­vestorOwn­er De­veloper/Con­struct­or 1. What are the currently applicable emission reduction goals and relevant  provisions for green real estate developments? Buildings produced 8.1M tons...
Comparable
11/09/2023
Europäischer Im­mob­i­li­en­in­vest­ment­markt im Jahr 2022 trotz vielver­sprechen­dem...
Press release - 11.09.2023 Total investment across the European real estate market fell by around 14% in 2022 compared to the previous year, coming in at EUR 248 billion, according to global law firm CMS’ latest European Real Estate Deal Point Study. During the first six months of 2022, the markets rebounded from the Covid-19 pandemic, resulting in a flourish of transactions and total investment for the period – matching the record levels seen in 2020. In the second half of 2022, however, the sharp increase in financing costs prompted cautious investment behaviour, leading to a decline in overall investment levels across the continent. The decline was particularly pronounced in the fourth quarter of 2022, with investments plummeting by 57% compared to the same period in 2021, reaching approximately €47 billion. The report noted that investment trends varied widely across countries, with Italy (+25%), Spain (+29%) and Belgium (+177%) experiencing greater investment volumes in 2022. France (+1%) maintained investment levels similar to the previous year, whilst Germany (-16%) and the UK (-19%) witnessed a de­cline. Jo­hannes Hysek, a partner in the Real Estate department at CMS Austria, said: “The volatility in the European real estate investment market during 2022 emphasises the need for investors to remain vigilant and adaptable in the face of ever-changing economic conditions. The ongoing uncertainty in the market has nevertheless created a favourable environment for buyers, enabling them to negotiate high discounts when purchasing properties. The decrease in real estate investment has continued this year. In the first half of 2023, a clear reluctance on the part of investors could be observed. One of the main reasons for this is the constantly increasing interest rate environment. So far, there are no indications of a trend reversal, so further development remains to be seen.”“European real estate markets experienced quite diverse developments last year, opening up some attractive investment opportunities on the buyer side. We saw revived interest especially in office and residential properties in prime locations,” says Nikolaus Weselik, a partner at CMS Vienna and an expert on construction and real estate law, summarising the study’s res­ults.“In­ter­na­tion­al investors accounted for the majority of real estate investment in 2022, with a share of 54 per cent,” adds Gregor Famira, a partner at CMS Vienna and co-head of the regional Real Estate Practice Area Group. “They held an even stronger position than in other countries in Eastern Europe, where almost two thirds (63 per cent) of all transactions advised by CMS featured a foreign investor on the buyer side. Our study – now on its 13th edition – highlights current standards and margins for transactions, which is why many players in the market like to refer to it in negotiations.” CMS’ analysis of the real estate market in 2022 revealed the following key trends: Demand for office property is on the rise again. Following the record low of 2021 (19%), investor interest in this segment revived. Its percentage share rose to 24%, making office real estate the most sought-after asset class in Europe alongside residential property. Investment in residential properties accounted for a 24% share of the market. That made them the most sought-after asset class with regard to the transactions on which CMS advised. The main reason for the popularity of residential properties is the stable income that they generate, which is particularly attractive to investors during uncertain times. International investors accounted for the majority of real estate investments. At 54%, their share was almost the same as in the previous year (55%). National buyers, whose investments accounted for 46%, dominated the market as recently as 2020 due to the Covid-19 pandemic. This trend has now reversed slightly in favour of international investors, following the lifting of pandemic-related travel re­stric­tions. Sus­tained a strong desire for security on the part of sellers. The proportion of transactions in which steps were taken to ensure the buyer met its financial obligations remained at the record high level of 70% seen in the previous year (2021). Buyers were frequently able to negotiate favourable terms with regard to contractual provisions on limitation periods. On the one hand, the parties agreed to the buyer-friendly statutory limitation rules more often than before. On the other, limitation periods of more than 24 months were often agreed in 2022, whilst there was a slight fall in the proportion of short limitation periods of up to 18 months. Notable increase in seller-friendly limits on liability. De minimis and basket clauses were agreed significantly more often in 2022 (52% and 42%, respectively), thus setting the market standard even in more buyer-friendly times. This represented an 8% increase in de minimis clauses and a 10% increase in basket clauses in transactions carried out by CMS last year. Most interestingly, the number of transactions with agreements on limits to liability was particularly high in Eastern Europe, including de minimis clauses (70%), basket clauses (52%) and caps (75%) – a trend that has since driven segment growth in Europe more widely. The CMS European Real Estate Deal Point Study 2023 now includes over 2,500 transactions, spanning the period from 2010 to 2022. This comprehensive study has empowered CMS to identify significant market trends and guide their clients through the dynamic landscape of European real estate.
12/05/2023
Consultation on the EU’s interim emissions reduction target for 2040
Until 24 June 2023 the European Commission is consulting to gather views on the EU’s climate target for 2040.Since the Communication of the European Green Deal in late 2019, there have been a raft of...
10/05/2023
At last: invalidity and revocation actions now available before TM offices...
One of the most significant innovations introduced by the EU Trade Mark Directive 2015/2436 (the so-called trade mark reform package) was the requirement for all EU countries to implement – where not...