swiss holiday property to benefit from crunch
News Posted On: 29 May 2009
The collapse of the Swiss economy could lead to increased occupancy of Swiss holiday properties, as more Swiss people are forced to look closer to home for their holiday needs.
"The Swiss economy has fallen into a deep recession and is badly in need of International Monetary Fund assistance to stay alive. With recessions goes unemployment and decreasing hours and salaries. This will mean less extravagant holidays for many, and we will likely see increased occupancy of Swiss holiday properties," said Erin Scott a trends analyst with overseas property portal Property Abroad.
This is an added benefit for the overseas investors who have bought Swiss holiday property in the last few years, and will also be looked at by those considering buying a Swiss holiday home investment this year while they can get a bargain.
British property buyers will also benefit from Sterling's current strength against the Swiss Franc.
"Sterling has been strengthening against the Swiss Franc in the past few months, after plummeting downward before that," said Chris Redfern, chief account executive with Moneycorp.com.
"Last July 1 Pound Sterling was worth 2 and a half Swiss Francs, at the beginning of this year it was worth just 1 and a half, but has since strengthened to 1.75, and we forecast that it will continue to strengthen throughout this year," he added.
For British residents considering buying Swiss holiday property this translates to Swiss properties being 25% cheaper than they were at the start of the year. This could also have an effect on Swiss holiday property occupancy as Sterling's strength against the Swiss franc also translates to cheaper Swiss holidays for British residents.
Property Abroad.com is currently advertising dozens of Swiss holiday properties for sale, find out more by viewing their list.
Back to news articles for this country
Latest Related News Articles in Switzerland
Switzerland Property More than Just a Financial Security Blanket
2011-11-21
According to new research Switzerland has become one of the world's top choices for global millionai.....
Swiss Property Market Looking Stronger
2011-09-01
The Swiss property market is going from strength to strength, with growth being reported in sales, r.....
Egyptian Billionaire Buys Swiss Ex Army Compound
2011-07-22
An Egyptian billionaire, Samih Sawiris has purchased an ex-army compound in Andermatt, Switzerland a.....
Switzerland Property Market in a Boom Not a Bubble
2011-05-31
According to the UBS Swiss Real Estate Bubble Index, while the Switzerland property market is clearl.....
Switzerland offers a safe haven for property investors
2011-02-16
The Switzerland property market is attracting more attention from investors as it is proven to be am.....
Switzerland Property Market Stable and Growing says IPD
2010-04-15
The IPD report into property markets has found a 70 basis points growth in the Swiss property market.....
Switzerland Property Market Showing Stable Growth of Sustainable Recovery
2009-12-10
The Swiss property market has grown at a steady 2% per quarter since the start of the year according.....
Switzerland Economy to Grow Marginally in 2010 as Recession Eases
2009-09-28
An independent report commissioned by the Swiss government has led them to revise their forecast for.....
Switzerland Property Market Proves Resilient to Downturn
2009-09-09
Switzerland property prices grew 4.90% in the year ending Q2 2009, proving Switzerland's resilience .....
Swiss Holiday Property to Benefit from Crunch
2009-05-29
The collapse of the Swiss economy could lead to increased occupancy of Swiss holiday properties, as .....