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| Switzerland Opportunities? |
Posted: Sep 6 06 12:39
Total Posts: 227
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What with the price of properties in ski resorts in France having gone through the roof in recent years I wondered if anyone has any views or experiences in Switzerland? From what I can see the price of property is cheaper than France for similar accommodation in similar locations. I know that there have been restrictions on foreign purchasers but these are starting to ease in some areas although it's unlikely that this will happen completely. However, logic would suggest to me that where restrictions exist it actually creates a restricted supply and therefore prices should be higher. That clearly isn't the case to date.So I'm thinking to myself that if people are getting priced out of France, why not Switzerland? Mortgage costs are very low and it's a very stable country. The market for ski properties continues to be robust, particularly in dual season resorts and rental returns are solid. What are the chances of a relatively slumbering market, which has lagged behind the price rises seen elsewhere in Europe starting to catch up? I really would be interested in any views on this apparent conundrum and whether my comments and assumptions are off the mark.Huw
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Posted: Sep 7 06 08:32
Total Posts: 15
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I have a chalet in Morzine, France. They tell me 80% of the properties that are bought there are by Brits with the Dutch buying another 10%. I.e the locals or even the native non locals don't either have the ownership desire or don't have the money. One of the reasons we Brits buy is because we beleive prices will rise (as well as liking the idea of properety ownership) but in fact we are the reasons why the prices rise! Similarly Spain and Portugal have the same dynamic.My thoughts on the Swiss market therefore is that with demand from us Brits (and Irish) being removed there is not the desire from those that can buy, to buy. Without demand the prices stay low.If restrictions are being removed then it could be a good time to dive in!where are the restrictions being removed?
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Posted: Sep 7 06 14:39
Total Posts: 227
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Hi JulianThere have been very strict restrictions on foreigners buying in most cantons. Some of these restrictions have been or are being relaxed. Hence my thoughts on it being a good time to buy. Much more research to do yet, however.Huw
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Posted: Sep 7 06 19:10
Total Posts: 2
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I have an appartment in Chatel, same area as Julian, whose vlaue has doubled. I looked briefly at Morzine, but whilst the property pices are lower, the rental returns are lower still, so it just didn't stack up for me.Forgeigners can (apparently) buy anything up to 800m2 witohut restriction.Rgds,Andrew
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Posted: Sep 7 06 19:11
Total Posts: 2
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... not Morzine. Typo on my part.Andrew
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