Construction of Condominium Units; Subsidized Loans or Annuity Grants
Funding for the new construction of condominiums in Upper Austria in the form of subsidized loans and annuity grants. Applications can be submitted at any time.
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Grant criteria
Funding objective
Construction of condominiums through subsidies from the State of Upper Austria in the form of mortgage loans with variable or fixed interest rates as well as interest and repayment grants.
Eligible to apply
- Non-profit Organizations
- Companies
- Individuals
Funding requirements
- Company headquarters in Upper Austria
- Applicant must be the owner or have building rights of the property
- Residential building must have more than three apartments and at least three full floors
- Apartment must be occupied as the main residence
- Purchaser must have personal entitlement
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Documents required for application
- Housing schedule (SGD-Wo/E-45a)
- Cost summary for condominiums (SGD-Wo/E45b)
Description
The funding program "Construction of Condominium Apartments" in Upper Austria supports the new construction of residential buildings comprising more than three apartments with at least three full floors through low-interest mortgage loans and annuity subsidies. Both non-profit housing associations and commercial developers headquartered in Upper Austria can access variably or fixed-interest loans upon positive approval by the state and authorization by the Upper Austrian Landesbank AG. Individual homebuyers who meet the funding requirements receive attractive interest and repayment subsidies in addition to the basic loan. Applications can be submitted continuously and have been open without time limitation since 2014.
Conditions for the subsidy include, among others, proof of primary residence and entitlement, compliance with specified income ceilings, as well as ownership or building rights of the property to be developed. A basic subsidy of €10,000 is granted per new condominium apartment; additional funding increases are available, for example, for children registered in the household or underground parking spaces. Disbursement occurs upon submission of the standardized forms Apartment Listing (SGD-Wo/E-45a) and Cost Summary (SGD-Wo/E45b) as well as other funding-relevant documents. Due to the variable interest rate structure or optional fixed interest rate commitment over 20, 25, or 35 years, individual financing models are feasible. This instrument is equally aimed at developers and eligible purchasers and contributes to the creation of sustainable and affordable housing in Upper Austria.
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