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Property in Switzerland |
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Investing in Property in Switzerland |
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There is no country in competition with Switzerland when it comes to quality of life for its citizens. Switzerland, though a tiny nation, is an extremely prosperous nation with a robust economy powered by a bubbling tourism and financial sector. If the snow-clad Alps don’t excite you, check out vibrant Zurich.
The European financial hub is sure to set your pulse racing with its unique and lavish lifestyle, which is reflected by the indigenous special products, like cheese, clocks, army knives and chocolate, and of course, the world famous Swiss Bank. The capital city of Geneva houses major headquarters of UN Agencies. Visitors flock to the infamous Swiss Alps to experiencea once-in-a-lifetime experience of skiing in world famous ski resorts, like Zermatt and St. Moritz. Visit our locations in Switzerland to see where we have property for sale.
Property Market in Switzerland |
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There is no denying the fact that Switzerland is a highly sought after destination for property investors worldwide purely because of the sheer paradisiacal beauty of this tiny nation. However, there are certain important aspects that you should be aware of before thinking of investing in property in Switzerland. These are highlighted below –
- The Swiss government is, generally, not keen on having offshore investors in the real estate sector, and adopt stringent procedures for any kind of investment by a foreigner.
- The acquisition of real estate property by foreigners in Switzerland is regulated by the Federal Law on the Acquisition of Real Estate by Persons Abroad (originally called Lex Friedrich, today Lex Koller). The Lex Koller requires ‘persons abroad” to obtain a permit from the appropriate Cantonal and Federal authorities before buying real estate in Switzerland.
- The Federal Government sets an annual quota of permits wishing to purchase property in Switzerland. Further, these permits are available to foreigners only in certain Cantons, and even in these Cantons, the permits are often restricted to those considered to be tourist resorts.
- Some Swiss Cantons also restrict the size of property that a foreigner can legally purchase, and sometimes, even the resale of property may carry restrictions. As a rule, no foreigner is allowed to own more than one Swiss property.
- Only individual foreigners or groups of foreigners can legally acquire property in Switzerland. No foreign company or Swiss company with over 30% foreign ownership is allowed to own a Swiss property.
- Foreigners are encouraged to purchase property in tourist areas and alpine resorts only. The larger cities like, Geneva, Zurich and Lausanne, are mostly out of bounds for overseas property investors.
Having noted all the restriction, you need not lose heart and don’t let your dream of buying a house in the Nature’s Playground die a premature death! Rekindle the flame of hope and explore the regions like the Canton of Vaud, which includes the towns of Chateau d’Oex, Montreux and Villars. Valais and Fribourg are also the hottest places to look for investment opportunities in Switzerland. However, be prepared to shell out extra Pounds to own a Swiss property. To give you an indication, you need to spend around £200K for decent apartments in the Valais region.
Highlights of Switzerland |
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Some of the striking features, apart from those discussed above, that attract global property investors in this beautiful country include –
- Switzerland has had a booming economy for a long time and is considered as one of the wealthiest nations of the world.
- Language is not much of a problem in Switzerland, as residents are multi-lingual with German, French, and English as their main languages.
- The Swiss residents are peace-loving people and the crime rate in the country is extremely low.
- The Swiss workforce is highly talented and the unemployment rate in the country is extremely low.
- Cost of living in Switzerland is on a higher side, and that’s because the country is so affluent that even the high cost of living do not deter anyone living in this paradise.
- The property taxes in Switzerland are not too high, but on the other hand, there are very limited investment opportunities in the country.
- Any kind of vacation property in Switzerland is bound to fetch regular handsome rental income throughout the year, as the country is buzzing with tourists from all over the globe.
- Switzerland is very well connected with all the major global cities with regular flights to and from the country.
Process of Acquiring Swiss Property |
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The Swiss Authorities do follow a rigorous procedure to acquire property. The normal procedure and the technicalities involved are handled by a notary, or you may consult an expert real estate agent who will guide you through every step.
The technicalities are not too rigorous but if you are unfamiliar with the Swiss procedures and laws, it is always advisable to seek the help of an expert. You may also want to explore the mortgage option in Switzerland, as the rates are extremely attractive and most investors actually go through the mortgage route to finance their purchase.
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Property in Switzerland
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