The real estate market in Switzerland has so far defied the world’s economic woes and, according to some property experts, is going strong. Chalets in Alpine villages are selling well and the country remains a popular destination. Its status as a tax haven has long made the country a destination for those with plenty of money, and it has been pulling in other buyers as well.
The Swiss market still has some restrictions that make it a little more difficult than other European countries, but that is one reason it has been a steady place to invest. Foreign buyers can’t buy a resell a home from five to ten years, depending on the region or the development. The country also restricts the number of homes available to foreign buyers, so there is always a steady demand for Swiss housing from abroad.
Swiss analysts Wuerst & Partner and the country’s Federal Statistical Office track housing prices, and throughout 2008 prices rose an average of four percent in the country. In the more popular tourist areas, the rises have been much greater, often from between 20 percent to 50 percent.
Verbier is one popular ski resort and holiday destination, and prices there are running around 13,860 Swiss francs per square meter. Other locations that are popular with foreign buyers are St.Moritz, where the cost per square meter is11,320 Swiss francs, Geneva with 14,670 and Zurich at 12,060. These prices compare to the national average of 5,690 francs per square meter.
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