diff --git a/optimum/intel/openvino/modeling_decoder.py b/optimum/intel/openvino/modeling_decoder.py
index a9cd8e309b..a94496c3bd 100644
--- a/optimum/intel/openvino/modeling_decoder.py
+++ b/optimum/intel/openvino/modeling_decoder.py
@@ -154,7 +154,8 @@ def update_pkv_precision(self, force_fp32=False):
         pkv_precision = Type.f32
         if not force_fp32:
             device = self._device.upper()
-            pkv_precision = core.get_property(device, "INFERENCE_PRECISION_HINT")
+            if "INFERENCE_PRECISION_HINT" in core.get_property(device, "SUPPORTED_PROPERTIES"):
+                pkv_precision = core.get_property(device, "INFERENCE_PRECISION_HINT")
             # ov_config["INFERENCE_PRECISION_HINT"] may override the prefer precision
             if self.ov_config:
                 inference_precision_hint = self.ov_config.get("INFERENCE_PRECISION_HINT", "")
diff --git a/tests/openvino/test_modeling.py b/tests/openvino/test_modeling.py
index a4bf9b38e0..1de402bc22 100644
--- a/tests/openvino/test_modeling.py
+++ b/tests/openvino/test_modeling.py
@@ -558,6 +558,14 @@ def test_compare_with_and_without_past_key_values(self):
         del model_without_pkv
         gc.collect()
 
+    def test_auto_device_loading(self):
+        model_id = MODEL_NAMES["gpt2"]
+        model = OVModelForCausalLM.from_pretrained(model_id, export=True, use_cache=True, device="AUTO")
+        model.half()
+        self.assertEqual(model._device, "AUTO")
+        del model
+        gc.collect()
+
 
 class OVModelForMaskedLMIntegrationTest(unittest.TestCase):
     SUPPORTED_ARCHITECTURES = (