The word "Switzerland" evokes quite definite associations - banks, mountains, cheese, chocolate, watches ... Reliability, stability, 500 years without wars ... Another stereotype - good houses in this country can only be found in ski resorts. But this is not the case - Switzerland offers a wide variety of recreational opportunities. Another thing is that until recently it was quite difficult for foreigners to purchase real estate in any other area, except for the Alpine regions. Until recently, the number of foreign buyers allowed to purchase buildings in Switzerland was regulated by strict quotas. Vacation home buyers were limited to a few regions, usually tourist and ski regions. The Swiss government's decision to raise the annual quota has opened the market to foreign buyers. And although the number of properties offered for sale in the regions is still limited, an important step in the right direction has already been taken. Legal nuances ... It is impossible for a foreign buyer to purchase a house in big cities such as Basel, Geneva or Zurich. At the same time, some cantons, of which there are only 26 in Switzerland, have more loyal views on this issue. Phil Barker, managing director of UK-based Overseas Homesearch, notes that "the cantons of Vaud and Valais are the most popular because property laws are not as strict as in other areas of the country." Foreigners can buy property in three more cantons - Graubnden, Ticino and Bern, but fewer permits are issued for foreigners to acquire real estate. A bilateral agreement between Switzerland and the EU countries, which entered into force in 2002, identifies three types of permits that an EU citizen must request to move to Switzerland. They are designated B, CE and C - each next gives more rights than the previous one. EU citizens usually receive CE approval, which allows them to purchase property without any restrictions. The amendment, adopted in 2004, increases the maximum allowable area that a foreigner can buy from 100 to 200 square meters. m, and this is quite enough for a house with four bedrooms. Unfortunately, this liberalization did not affect non-EU citizens; they are forced to resort to a rather difficult path - registering a company and buying real estate on it. At the same time, the company must have a certain number of founders and authorized capital, and must also employ three citizens of the country. Trying to register a purchase for a Swiss citizen is not worth it - this is prohibited by law, and the transaction can be canceled as invalid. In addition, as noted by the general director of the company "Swiss House" Gennady Gabrielyan, local authorities, which, given a quota, decide whether to sell real estate to a foreigner, often decide positively if a foreigner simultaneously invests in the local economy. The minimum level of such investments is 500 thousand Swiss francs, and there are more than enough promising objects in Switzerland: cable cars, thermal centers, restaurants and much more. It is important to know that an investment purchase scheme can open the way to naturalization, adds Gennady Gabrielyan. Some Russians, whose children, for example, study in prestigious private schools, are seriously and not unsuccessfully considering such opportunities. There are no inevitable obstacles to obtaining a Swiss passport, although it is extremely difficult to achieve this goal without the help of qualified lawyers. ... And financial tricks The Swiss real estate market is very different from the French, Italian and especially - the Spanish. Prices are high and their rate of growth roughly corresponds to very low inflation. On average, a two-bedroom apartment is 15 min. driving from the city cost $ 260,000, and a similarly located four-bedroom mansion - from $ 600,000. Note that only 35% of Swiss can afford to own a home. Since the value of real estate is slowly but steadily growing, and the houses themselves are quite expensive, investing "in Switzerland" is a solid, long-term investment. David Hampshire, author of Living and Working in Switzerland, says: “You shouldn't expect to make a quick profit, but if you're going to live or work permanently in Switzerland, this is a great place to buy. The houses are built to last and their quality meets very high standards. " Although the Swiss market is partially open to foreign buyers, financing a purchase can be difficult. “Most people looking to buy property in Switzerland want to take out a mortgage from one of the local banks,” says Phil Barker. "Interest rates are very low and banks are more than interested in providing this loan." Two mortgages are usually taken for a purchase: the first is 60-65% of the value of the property, the second is 10-15%. Most borrowers repay the second loan within ten to twenty years, while the first loan is usually not paid in full. The most famous Swiss banks - for example, UBS, Credit Suisse and ABN AMRO - are very careful in considering the identity of the borrower, and the Russians, frankly, are not in good standing here. Therefore, only people with an impeccable reputation should seriously count on getting a profitable loan. There are many more potential additional costs that you should be aware of, although it may happen that you will not have to pay all of them. We will mention local property taxes, management and joint ownership costs, which include insurance and management and utilities fees. Your lawyer and notary will tell you which ones you have to pay and how much. Expensive and impeccable Aren't you tired of legal intricacies yet? It's time to move on to the next, much more exciting stage of buying a home - choosing where you want to live. Keith Burman of Pure International says: “Switzerland attracts people who love diversity - water sports on Lake Geneva, skiing and great mountain views. Here there is a place for entertainment for every taste ”. One of the residential complexes offered by Pure International is located in the Grimentz alpine resort of the Valais canton, one of the most popular with foreign buyers. The complex, called Les Flives, will include 120 chalets and a wellness center. Les Flives has three types of chalets, four or five bedrooms and a variety of furnishings to choose from. Chalets can be purchased under construction, prices start at $ 770,000 (for a four-bedroom chalet). The Verbier ski resort is hugely popular and offers excellent property acquisition opportunities, including homes in the Valentine and Victoria developments under construction, due to be completed in 2006. Two to five bedroom apartments are for sale here, starting at from $ 1,370,000. Overseas Homesearch also offers several residential developments under construction. One of them is called La Soldanelle, and it is located in the canton of Vaud, next to Lake Geneva and just five minutes from the town of Chteau d'Oex. This complex will have more than twenty apartments, with one, two or three bedrooms, each with mountain views. Prices range from $ 250,000 to $ 1 million. Les Combins Alpine residential complex on Champex Lac, also located in the Valais canton, consists of 12 apartments with two and three bedrooms. Prices - from $ 330,000. In the Alpine resort of Anzre, which is considered the "cousin" of the famous Crans-Montana, located nearby, the Le Jardin des Alpes ("Alpine Garden") complex is being built, in which the company " Swiss House "offers apartments overlooking twelve glittering four-thousanders with an average price of $ 5,900 per sq. M. In the near future, Anzera cable car will connect to Crans-Montana, which will significantly increase the value of the local real estate. Another project of the Swiss House is a small one under construction. The Bellevue complex in Campione, a tiny Italian enclave in the Swiss canton of Ticino. Campione residents carry Italian documents in their pockets, but enjoy special tax conditions and can work in Switzerland. New properties appear here every decade, if not less often. The cost of a 200-meter apartment with a terrace overlooking Lake Lugano is just over $ 1.5 million. There is no point in arguing that the reason for the success Swiss real estate is also hidden in the stunning nature of this country. And now, for the first time in many years, we also have the opportunity to acquire a "piece" of this fairy tale, whose name is Switzerland.
House in the Alps? Impossible!
01.03.2006
Author: Nicolas Brittain
172
This mountainous country of interest not only to the clock, chocolate and banks. Property Switzerland is also very attractive to foreigners - but only partially available to them. However, the number of interested chalets and apartments of this diverse country is increasing day by day.
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