Buying in Switzerland

Switzerland is not for quick-buck investors.

Switzerland is not for quick-buck investors.

The sale of property to non-Swiss citizens is subject to several restrictions; generally, non-Swiss buyers may only buy one property per family and the net floor space of the property must not exceed 200sq m (2,152sq ft), a recent increase from 100sq m (1,076sq ft).

Each canton has a yearly quota of properties authorised for sale to non-Swiss. An authorisation to purchase must be obtained from the Cantonal Authorities and from the Federal Department of Justice and Police, through a notary.

Restrictions vary considerably. In some cantons you can buy only a chalet; in others only a house. In some areas foreigners are not permitted to resell their property within five years.

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Only one lawyer, a public notary, is involved in the process of buying property in Switzerland. They are responsible for ensuring that the purchase contract is accurate and conforms to the law and registers the transaction with the land registry.

Property prices rise only modestly throughout Switzerland so the best advice is to buy in places where property can be rented out throughout the year.

Purchasing costs vary from area to area, with fees ranging from 2.5-5 per cent of a property's sale price. Annual community charges also vary.