Luxus immobilien is the German term for luxury real estate, referring to high end residential or commercial property defined by prime location, superior architecture, premium materials and exclusive amenities. The term is most commonly used across Germany, Austria and Switzerland, though international buyers, including those based in the UK, increasingly search for it when researching premium property in the DACH region.
Yes. Foreigners can buy luxury property in Germany. German law places no nationality restrictions on real estate ownership. Buyers sign the purchase contract before a notary (Notar), register title in the Grundbuch land register, and pay Grunderwerbsteuer transfer tax at the rate set by the federal state. The rules apply equally to EU and non-EU buyers.
What Luxus Immobilien Means in Today’s Property Market
Luxus immobilien covers everything from period villas in Berlin’s Grunewald district to glass fronted penthouses overlooking Lake Zurich. Unlike a standard luxus haus, which refers specifically to a single high end house, luxus immobilien is a broader category that includes apartments, estates, chalets and commercial premium assets such as boutique hotels or private clinics.
Demand has been shaped by several factors in 2026: limited prime stock in established cities, sustained interest from private wealth relocating within the EU, and a growing number of British and international buyers using Germany, Austria and Switzerland as a second home base or a diversification play alongside UK holdings.
Defining Features of Luxus Immobilien
Not every expensive property qualifies as luxus immobilien. Agents and valuers across the DACH region generally look for the following characteristics.
- Prime location, such as central Munich, Vienna’s first district, or lakeside positions on the Bodensee or Lake Geneva
- Architectural distinction, whether a restored historic building or a purpose built contemporary design
- Premium construction materials, including natural stone, engineered timber and high specification glazing
- Privacy and security, such as gated access, private grounds or concierge management
- Wellness and lifestyle amenities, including private spas, wine cellars, home cinemas and dedicated staff quarters
- Energy performance, since German and Austrian buyers increasingly treat a strong Energieausweis (energy certificate) rating as a baseline requirement rather than a bonus
What Drives the Price of Luxus Immobilien
Pricing for luxus immobilien varies enormously by city and region, but four factors consistently move the number more than any others.
Location within the city
A property in Munich’s Bogenhausen or Hamburg’s Harvestehude will command a significant premium over an equivalent home only a few kilometres further out. Proximity to water, parks and established diplomatic or business districts tends to hold value best over time.
Land scarcity
Switzerland’s Lex Koller restrictions on foreign ownership of residential property, alongside strict Swiss zoning rules, keep supply tight in cantons such as Geneva and Zug, which supports premium pricing for the limited stock that does reach the open market.
Condition and provenance
A fully renovated Altbau apartment with original period detailing typically sells at a premium over a comparable new build, provided the renovation has been carried out to a high standard and the building’s structural history is well documented.
Currency and cross border costs
For UK based buyers, sterling to euro or sterling to Swiss franc movement affects the real cost of a purchase. Legal fees, notary costs and property transfer tax (Grunderwerbsteuer in Germany) also vary by state and should be budgeted separately from the headline asking price.
Buying Luxus Immobilien as a UK Based Buyer: A Step by Step Overview
- Define your brief. Decide whether you want a primary residence, a second home, or an investment property, since this affects financing, tax treatment and the areas worth shortlisting.
- Confirm your budget in the local currency and factor in notary fees, transfer tax and, where relevant, estate agent commission, which is often split between buyer and seller in Germany and Austria.
- Engage a local notary early. In Germany, Austria and Switzerland, a notary is legally required to formalise the sale, and involving one before you make an offer helps you understand local contract terms.
- Check foreign ownership rules for your target country, particularly in Switzerland, where non-resident purchases are restricted under the Lex Koller framework and typically require cantonal approval.
- Arrange independent valuation and survey. A local surveyor will flag issues that are easy to miss from a distance, from heating system age to boundary disputes.
- Plan your financing. Some UK buyers use a mortgage from a bank in the country of purchase, while others draw on UK based lending secured against existing assets. For background on financing structures, our Mortgage and Property Plus guide covers the core concepts that also apply when financing property abroad.
Luxus Immobilien Compared with a UK Luxury Estate
Buyers researching luxus immobilien are often comparing it against options closer to home. Our Luxury Estate Guide sets out how UK luxury estates are defined and priced, while our wider Luxury Property Insights article tracks current market trends across London, Dubai, Monaco and Miami. Reading the three together gives a clearer picture of how DACH pricing compares with other premium markets before you commit to a region.
Buying Luxury Property in Switzerland as a Non-Resident
Switzerland is the outlier in the DACH region. Under the federal Lex Koller law, non-residents without a Swiss residence permit cannot freely buy residential property. Our guide to Lex Koller rules in Switzerland explains the permit process in detail. There is no general right for a foreign buyer to purchase a flat in Zurich or a penthouse in Geneva on the open market: every acquisition needs cantonal authorisation, and pure investment purchases of residential property by non-residents are prohibited outright.
The recognised route for overseas buyers is the holiday-home pathway. Non-residents may buy a second home in communes officially designated as holiday resorts, subject to strict conditions:
- Designated zones only. The property must sit in a commune the canton has approved for foreign holiday-home purchases. Many Alpine resorts qualify; Zurich, Geneva and Basel generally do not.
- Annual quotas. Each canton sets a yearly quota of permits for foreign buyers, so availability is genuinely limited and applying early matters.
- Size caps. A holiday home is typically limited to around 200 sqm of net living space and 1,000 sqm of land.
- Cantonal permit. Every purchase needs authorisation from the cantonal authority before the notary can complete the sale, which adds several weeks to the timeline.
Since Brexit, UK citizens are treated as third-country nationals: without a Swiss residence permit (B or C), the holiday-home route is the only residential option available. EU and EFTA citizens holding Swiss residence can buy without restriction, and commercial property can generally be bought without a Lex Koller permit. Budget for notary fees of roughly 0.5 to 1 percent of the price plus cantonal transfer taxes, which vary considerably between cantons.
Can UK Citizens Buy Property in Austria?
Yes. Austria remains a favourite for UK buyers seeking ski chalets in the Arlberg or apartments in Vienna’s first district. Since Brexit, however, UK citizens count as third-country nationals under Austria’s land transfer laws (the Grundverkehrsgesetze), so most purchases require prior approval from the provincial land transfer authority (Grundverkehrsbehorde). See our guide to buying property in Austria as a UK citizen for the full process.
What this means in practice for a UK buyer:
- Approval is the norm. In Tyrol, Salzburg, Vienna and most other provinces, non-EU/EEA buyers must apply for a permit before the sale can complete. Processing typically takes four to eight weeks.
- Rules differ by province. Each Bundesland sets its own thresholds and procedures, and some resort areas further restrict second-home purchases to protect local housing supply.
- Purchase costs are fixed by law. Austria’s land transfer tax (Grunderwerbsteuer) is 3.5 percent of the purchase price, plus around 1.1 percent for entry in the land register and notary or legal fees of roughly 1 to 3 percent.
- Use a local notary early. The notary drafts the purchase contract and usually handles the permit application alongside the conveyancing. Read our guide to buying property in Austria as a foreigner for the full process.
EU/EEA and Swiss citizens buy without this approval step. For UK buyers the key protection is to make any offer conditional on receiving land transfer approval, so the deposit is safe if the permit is delayed or refused.
FAQs: Switzerland, Austria and Lex Koller
What are the Lex Koller rules for foreign buyers?
The Lex Koller is Switzerland’s federal law on the acquisition of real estate by persons abroad. It requires non-residents, and Swiss companies controlled from abroad, to obtain cantonal authorisation before buying residential property, and it prohibits them from buying residential property purely as an investment. The law does not apply to commercial property, and it does not restrict Swiss residents, including EU/EFTA citizens holding a Swiss residence permit, who may buy freely.
Can a non-resident buy a holiday home in Switzerland?
Yes, within limits. Non-residents may buy one holiday home in a commune officially designated as a holiday resort, subject to the canton’s annual quota, size caps of around 200 sqm of living space and 1,000 sqm of land, and a cantonal permit. Letting the property out year-round as a commercial investment is restricted.
Do Lex Koller rules apply to commercial property in Switzerland?
No. Commercial premises, including offices, retail units, hotels and industrial buildings, can be bought by non-residents without a Lex Koller permit, provided the property is genuinely used for commercial activity. Mixed-use buildings are assessed on their predominant use, so take local legal advice before assuming an exemption applies.
Can a UK company be used to get around the Lex Koller?
No. The law expressly catches Swiss companies and other entities controlled by persons abroad, so interposing a company does not create a lawful workaround. Attempting to circumvent the rules can lead to the purchase being declared void, so structure any acquisition transparently with Swiss legal advice.
Can UK citizens buy property in Austria after Brexit?
Yes, but since Brexit UK citizens are third-country nationals, and most Austrian provinces require them to obtain land transfer approval (Grundverkehrsbewilligung) before completing a purchase. Allow four to eight weeks for the application, make your offer conditional on approval, and budget 3.5 percent land transfer tax plus registration and notary fees.
How long does Austrian land transfer approval take for UK buyers?
Typically four to eight weeks from a complete application, depending on the province and the complexity of the case. Your notary usually files the application once the purchase contract is signed, and the sale only becomes unconditional once approval is granted.
Frequently Asked Questions
What does luxus immobilien mean in English?
Luxus immobilien translates directly to luxury real estate or luxury property. It is used in Germany, Austria and Switzerland to describe high end residential and commercial property.
Can UK citizens buy luxus immobilien in Germany?
Yes. UK citizens can buy residential property in Germany without restriction, though they should budget for notary fees, property transfer tax and, in most cases, independent legal advice.
Is it harder to buy luxury property in Switzerland than in Germany?
Generally, yes. Switzerland restricts non-resident purchases of residential property under the Lex Koller law, so most foreign buyers without Swiss residency are limited to specific holiday home zones and cantonal quotas.
What is a realistic budget for luxus immobilien in a major DACH city?
Prices vary widely by city and district. Prime central locations in Munich, Vienna or Zurich typically start well into seven figures in euros or Swiss francs for a property that meets the location, size and specification standards buyers associate with luxus immobilien.
Do I need a local notary to buy property in Germany or Austria?
Yes. A notary is a legal requirement to complete a property purchase in both Germany and Austria, and their involvement protects both buyer and seller during the transaction.
Written and reviewed by the My Luxury Property editorial team, who research premium property markets across the UK and Europe to help buyers compare locations, pricing and purchase routes before they commit. This article is for general information only and does not constitute advice; see our disclaimer for details. Have a question about buying property abroad? Get in touch with us here.