The real estate market in Switzerland is one of the bright spots in Western Europe this year. It has not experienced the dramatic drop in prices that many other markets have, and the potential buyers have remained strong and committed. One reason for this is the country is an international home to many organizations, companies and individuals. Geneva and Zurich continue to remain popular city destinations, while in the mountains, homes around ski areas have even higher prices.
According to Knight Frank’s Residential Research report, prices in Switzerland grew a steady 4.5 percent in 2008. For the whole country, prices range from 5,500 to 6,000 Swiss francs per square meter, or about $470 to $515 per square foot. The cities – Geneva and Zurich – are at least double that at 12,000 to 15,000 Swiss francs per square meter, or $1,025 to $1,285 per square foot.
Prices in the best skiing areas are skewed by second home buyers, and they can run anywhere from 10,000 to 20,000 Swiss francs per square meter, or $850 to $1,700 per square foot. At the very best resorts, you will even see prices up 35,000 Swiss francs per square meter ($3,000 a square foot). The Swiss property market look as if it will remain a strong force in Europe through the end of the year.
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