When it comes to Switzerland, the real estate market that has always been considered one of the most solid in Europe . Just think that the prices of the works, except for a few brief interlude, have been growing for about 15 years in a row. The 2018 has been confirmed as an excellent year for the country’s real estate market.
House prices, thanks to an excellent economic situation, are still growing slightly while the number of homes in urban areas, where rental prices have grown by an average of 1% on an annual basis, decreases.
Different situation for houses outside residential centers. In this case, in fact, the number of vacant buildings remains largely unchanged, while the average rent is reduced by just over 2%. A fact, this, very interesting that must make anyone who wants to buy a house in Switzerland for investment use.
Limits for foreigners
The purchase of real estate by persons residing abroad is subject to certain limits. The website of the Federal Office of Justice gives an overview of the issue. The so-called Lex Koller is a federal law that regulates the purchase of real estate in Switzerland by people residing abroad. Anyone who owns land, a house or an apartment in Switzerland does not automatically have the right to a residence permit. The issuing of purchase permits is the responsibility of the cantons.
A few years ago the federal government proposed to abolish the Lex Koller. However, the parliament rejected the project. EU and EFTA citizens living in Switzerland (with a B residence permit or a C residence permit) and other foreigners with a C permit do not require authorization to purchase a house or land.
Foreign citizens can buy holiday apartments in Switzerland, but must apply for a special permit. Furthermore, the acceptance by the Swiss people of an initiative to limit secondary residences, poses a further restriction on the purchase in certain municipalities.