switzerland property more than just a financial security blanket
News Posted On: 21 November 2011
According to new research Switzerland has become one of the world's top choices for global millionaires to buy property, and for far more than its status as a financial safe-haven.
Recent reports have shown demand for Swiss property to be increasing, because it presents a safe haven against the international and European volatility, not least because of its incredibly robust currency.
Others combine this with the country's status as a tax-haven, with far more lenient tax laws and far lower tax-rates, which is becoming more and more important to millionaires as more and more countries seek to tax the wealthy more than everyone else.
But, according to the latest report from Knight Frank it is much more than just these mundane economic realities that are luring millionaires into Switzerland by the bucketload.
The report points to Switzerland's accessibility, great schools and universities and gorgeous mountainous landscapes and scenery, as well as its financial centres Zurich and Geneva. With all this, Switzerland, it says, gives high net worth individuals the opportunity to work in a global city and live in a breathtaking environment while also taking advantage of an unrivalled range of outdoor pursuits.
According to the report Switzerland is currently home to 573,000 millionaires, a figure which it predicts will rise 52% to 872,000 by 2020. Because of its rising status, many developers have been reviewing the level of quality on offer in prime locations, which is serving to make the country more attractive still.
Previously, millionaires, who were buying in the likes of London and Hong Kong complained that Switzerland just wasn't offering the same level of quality. This has started to change lately, with new developments such as 51 Degrees in Leukerbad and Du Parc Kempinski Private Residences near Lake Geneva according to the report.
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Article written by Liam Bailey
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