It all depends. Non residents can buy vacation properties in touristic areas.
European Union citizens who are Swiss residents can buy without restrictions. Other residents can buy one property in Switzerland for their own use.
There's a special permission to be asked if you want to buy a piece of land larger than 3000 m2.
Can I get a mortgage?
Yes. Foreigners can get between 60 of the house price or bank-appraised value, whichever is lower.
Interest rates are usually very low (10 years average mortgage rates are below 5.
How does the actual buying property in Switzerland process work?
It depends on the canton. In most cantons, once you have agreed on the terms with the seller or his agent, arranged the financing if applicable and obtained your residence permit, you take an appointment with a local notary public.
This is a sworn officer whose responsibility it is to check that the transaction is legal and then to make it happen. He will check that the seller really owns what is being sold, that you have the right to buy it and that you understand what you are buying. The money is paid to the notary and he releases it only when the change of ownership has been properly registered. It should be noted that paying a little extra "under the table" is a criminal offence in Switzerland and should be avoided.
How does the price level of Swiss real estate compare with that of Paris, London, LA?
House prices in most areas of Switzerland are comparable or cheaper than in London, LA or Paris.
Building quality is usually better although interior decoration is not always something you want to keep.
These guidelines are meant for guidance only and describe a straightforward purchase scenarios. However this information is not meant to replace proper legal advice, which we always insist you take.
