The second phase of this up-market development is under way with a few units available to be purchased by non-swiss residents.
The Residence Beauregard comprises apartments, twinned chalets and large detached chalets with independent annexe for guest or spa. Architecturally the project reflects combined finest modern design with loft style interior and floor to ceiling window and utmost comfort. Each home is South facing with exceptional view of the village and the Val d’Anniviers. It is conveniently located a short distance to all amenities and cable car.

The Swiss property market offers a sound investment and attracts interest from all over the globe. Following upheavals in the property market in the early 1990’s, the buying of Swiss property by non-citizens was highly restricted. The main reason for the restriction on foreign property ownership stemmed from properties being bought and left empty for years at a time. Due to the taxation regulations, this left a large void in the local tax revenues of some municipalities and cantons. This gap in tax revenues then directly impacted the maintenance of infrastructure in Swiss townships.

In January 2007, the Federal Government of Switzerland put a new scheme in place to ensure that non-citizens could buy Swiss property without overheating the market or failing to meet minimum residential requirements. In straightforward terms, the Federal Government made available a limited number of permits for non-citizens to buy Swiss property in any given year. Most of these permits are within the resort areas in Switzerland, with the largest choice of properties available within the French speaking cantons.

These permits are then distributed amongst the 26 cantons in Switzerland. A non-citizen must apply for any available permits in the canton in which they wish to buy and if successful then seek authorization from the cantonal authority in order to gain title to the property. Each of the 26 cantons has their own rules and these rules are further complicated by the rules of the municipalities within each canton.

During 2007, the new regulations caused much confusion in the Swiss property market.  Overseas real estate agents who sold property in Switzerland as part of their global portfolios had difficulty understanding the new rules, local regulations and appropriately advising their clients.  Unfortunately, without local knowledge, some potential Swiss property owners were misadvised, leading to delays in the approval and authorization process for their property purchases.

By 2010 each canton will have responsibility for their laws with regard to foreign property ownership.  This will mean that real estate agents and potential Swiss property buyers will need to know which cantons are offering permits along with their individual requirements and laws for authorization of the property purchases.  Some of the current requirements include a restriction on the use of the property. For example, there may be a requirement that the purchaser reside in the property for a certain period each year (usually three weeks) or a limit on the number of months per year that the property can be let.  Other regulations may include the size of the property that a non-citizen can purchase.  Non-residents are liable for tax on any income generated from Swiss sources including rental income and these taxes include federal, cantonal and municipal taxes.

Swiss property is a stable investment both short and long-term

Even with the slightly complex Swiss property regulations, the Swiss property market is still a sound investment for foreign property owners.  The Swiss property market was immune from the property bubble experienced in the rest of the world due to a correction to the market in the 1990s.  Therefore, the current housing prices are not over-inflated nor will they experience the kinds of retraction seen elsewhere.  The following is a comparison of house price changes in nominated countries from 2006 to the first quarter of 2008:

Buying property in Switzerland made easy and hassle-free

Swiss-Sun has been specializing in the Swiss property market for a number of years; they have the experience and local knowledge to provide foreign Swiss property buyers with a hassle-free property purchase.  Swiss-Sun can let you know in advance which resorts and properties in each canton have permits available for buying property.  Having a local source enables you to not only know where the permits are available for properties, but also which resorts, towns and cities are popular tourist destinations with a view to rental yields on your investment.

Due to Swiss-Sun being dedicated to only selling property in Switzerland and their local presence, they have the experience and understanding of the local regulations and procedures for buying Swiss property.  This ensures that your permit application and property purchase documents are prepared correctly and have a smooth transition through the correct channels.  Also as important, you will understand what restrictions and regulations your property purchase is subject to in each canton.  Most other real estate agents will give you a time frame of six months for purchasing Swiss property, but Swiss-Sun can obtain permits for resort properties in as little as two to three months for their clients.

Swiss-Sun is the perfect property agency to help you make informed decisions when buying Swiss property.  They not only have the local knowledge, but they understand local regulations – making your Swiss property purchase headache free.  Contact Swiss-Sun today to find out where permits are currently available for your investment in or purchase of property in Switzerland.

]]> http://www.swiss-properties.co.uk/index.php/2009/01/06/buying-swiss-property/feed/ http://www.swiss-properties.co.uk/index.php/2008/11/05/swiss-property-credit-crisis/ http://www.swiss-properties.co.uk/index.php/2008/11/05/swiss-property-credit-crisis/#comments Wed, 05 Nov 2008 15:00:46 +0000 admin http://www.swiss-properties.co.uk/?p=16 Switzerland shows growth while others are in decline:

While the world is coming to grips with the end of the global house price boom, the property market in Switzerland is enjoying sustainable growth. To understand why the Swiss property market is defying all the odds, you need to understand the Swiss and their property market history.

In the late 1980’s and early 90’s, the Swiss property market experienced a soaring apartment and house price boom which saw increases of between 8.8% p.a. to 18% in the early 1990’s. Reacting to concerns over runaway house price inflation, the Swiss National Bank increased interest rates. Between January 1989 and October 1992 interest rates rose from 4.9% to 7.9%. This interest rate rise had the effect of crashing the Swiss property market as most Swiss property mortgages were on a variable rate basis.

This shock crash of a booming property market combined with restrictions on foreign ownership left the Swiss property market to recover at extremely conservative rates compared with the rest of the world. The Swiss themselves also have a culture of long memories combined with financial conservatism. Following the crash, citizens have taken an extremely conservative approach to the Swiss property market. Even as interest rates have dropped lower than boom time rates (3.35%), the Swiss property market has seen moderate and sustainable gains compared to the rest of Europe, the UK and the global property market.

Why the Swiss property market is good news for investors

In a world where property prices throughout Europe, the UK and US are on a steep downward turn, this premature correction in the Swiss property market is good news for investors. Why? Buyers can feel confident they are not buying into an inflated property market in Switzerland ensuring limited or no negative retraction in Swiss property prices. Instead, all the projections for the Swiss property market are for incremental and sustained growth. For Investors already in the Swiss property market, this ensures their equity is solid and their money is in one of the few safe havens left in the global economy. At a time when people around the world are wondering where they can find a safe place for their money with hopes of returns - the Swiss property market is offering a solid investment with sustainable growth. This is great news for foreign investors interested in the Swiss property market or wanting to find a safe place for their funds.

The imposed limits on foreign ownership through the quota and permit system have led to an increase in the Swiss property prices as demand in property ownership and rental properties have risen, yet the amount of planning applications have slowed down through the end-quarter of 2008.

Swiss property market & chance to cash-in on tourism dollars

In January, 2007 the Federal Government of Switzerland opened the Swiss property market to foreign investment with a scheme that both protects the property market from high inflation, while also encouraging foreign investment. The regulations brought in by the Swiss Federal Government set an annual quota of permits for non-citizens to buy Swiss property. The current quota is 1,440 permits. These permits are then subject to authorization of the 26 individual Swiss cantons (counties). Non-residents are now able to apply to buy Swiss properties where permits are available, and are also liable for tax on any income generated from Swiss sources and these taxes include federal, cantonal and municipal taxes.

Although Federal Swiss Government regulations do not allow non-citizens to rent out their properties on a full time basis, foreign-owned properties can be rented out for a total of eleven months and one week each year. This is great news for investors as Switzerland is a very popular tourist destination within Europe, with tourism in Switzerland accounting for over 3% of the GDP. Not limited to Europeans alone, the numbers of Asian, American and African tourists visiting Switzerland have steadily increased over the past four years, with a 27% increase in the numbers of tourists coming from Asia. The following are the top destinations for foreign and domestic tourists in Switzerland:

Within each of the top Swiss tourist destinations are a number of cantons in which foreigners can apply for permits to own property. The Swiss tourist industry has a long traditional history and has been shown not just to survive past economic crisis but to experience an increase in tourist numbers during economic instability in the region and world (Journal of Teaching in Travel and Tourism, Tourism Education in Austria and Switzerland Past Problems and Future Challenges Vol 5 Issue 1/2 2005).

To ensure that Switzerland remains a top tourist destination over the long-term, the Swiss have heavily invested in infrastructure to serve popular tourist destinations. One example of this is the US$160 million investment in ski lift infrastructure around the 4 Valley Ski Areas (Valais) to ensure that Switzerland remains the top destination for skiing holidays in Europe.

Foreign investors have the opportunity to buy property in the stable Swiss property market, experience sustainable growth in equity while also taking advantage of one of the worlds most established and enduring tourist markets. To take advantage of the huge benefits the Swiss property market is offering you will need to know which cantons are offering what number of permits, along with being able to process your application with the necessary approvals.

Swiss Sun offer long-standing expertise and experience in all aspects of the Swiss property market. They can advise you on any permits available to non-residents in your preferred areas in Switzerland, along with offering a service to fast-track the application process. With Swiss Sun at your side, you can make informed choices about which property in Switzerland best suits your investment or property needs, while experiencing hassle-free Swiss property ownership with no long or drawn out waiting periods for approvals.

Have you always fantasized about living in a beautiful location, enjoying a relaxed lifestyle, and waking up every morning with a smile on your face?
Swiss Sun is a well-renowned estate agency that specializes in helping UK residents who are looking to emigrate turn their dreams into reality. They offer personalized help and guidance in the areas of Swiss property investment and residency.
With offices in the UK and close contacts in Switzerland, Swiss Sun will take the hassle out of your life-changing move to the home of cozy chalets, gourmet chocolate, fine watches, and some of the most stunning landscapes in the world.

So why choose Switzerland?

On a purely practical note, many UK, EU and US citizens looking for a change of scene opt for the attractions of Switzerland, partly because it is not itself included in the EU and thus offers a safe, stable tax haven making it the perfect investment choice for foreign buyers.
As well as this, the country is politically laid back, boasts a generally high quality of life, and offers diverse and welcoming environments to cater to just about every taste.

The Idyllic Landscapes of the Valais Region of Switzerland

Swiss Sun specialize in the breathtakingly beautiful Valais region of the Swiss Alps, and offer clients guided trips around the main areas so that they can get to know it for themselves. It is a stunning and varied valley, ringed by snow capped mountains, which descends from the glacial source of the River Rhone all the way down to Lake Geneva .

The Matterhorn in Switzerland

The landscape is distinguished by features like the majestic Matterhorn, the Aletsch glacier, natural thermal springs which account for the profusion of excellent spas, and miles upon miles of pine forests. Whether you are looking for untouched, authentic villages nestled in secluded hamlets or vibrant resorts offering everything a contemporary traveller could want, Swiss Sun will have a choice of offerings to tempt you.
Potential property buyers who will need to return to the UK frequently for business or who don’t want to feel isolated from friends and family back home need not fear. There is a popular airport in Geneva which flies to a range of UK destinations, as well as a smaller airport in the resort of Sion which can accommodate private jets …making your Bond-esque getaway into the mountains a distinct possibility.
So, now that you have experienced the beauties of the Valais region, Swiss Sun can walk you through their impressive portfolio of exclusive apartments and chalets so that you can find the right property for you.

Buying Swiss Property and Applying for Swiss Residency

So, you’ve found your dream home in Swiss Sun’s comprehensive portfolio, but you’re not sure where to go from here?

Do not fret; you are working with experts! Swiss Sun can help you establish the financing for your property purchase in Switzerland, with available interest rates starting as low as 3.9%. They will guide you through the bureaucracy, help obtain the necessary permits, and make the experience as simple as possible. If you are hoping to treat Switzerland as your new home, and intend to reside in the country for over 6 months of the year, they will even be happy to help you apply for Swiss Residency. Now that is the type of service you can count on!

So, whether you are looking for a safe investment or starting a brand new life in one of the most beautiful regions in the world, contact Swiss Sun today and let them turn your dream into a reality.