Spotlight on Switzerland
We highlight the latest trends influencing Switzerland’s prime ski hotspots
1 mins to read
Property as a store of capital:
It is almost five years since the Swiss National Bank took interest rates into negative territory and the base rate now sits at -0.75%. High net worth residents keen to remain in the country to enjoy the privacy and security it affords, are looking more closely at property as a means of wealth preservation and one which can potentially secure a gross yield of around 2.5%.
The impact of legislation:
Depending on whether a Swiss resort is focused on encouraging more primary residents or second homeowners will have a significant bearing not just on the volume of sales but on the property type available and the price points achieved. Largely dominated by primary residences, Gstaad for example is home to a significant number of large chalets and here sales above CHF20 million are not unusual.
What do Gstaad, Villars, Crans-Montana, Verbier and St Moritz have in common? Aside from being ski resorts, they are all home to private schools, in Villar’s case, ones with over 800 students. This means the resorts have a large pool of permanent residents, not just the students but their families that visit, who often go on to buy or rent, as well as the wider schools’ workforce.
Working from home in the Alps:
With 4G now available across the Swiss Alps and flexible working a growing phenomenon, more Swiss residents are moving back to the mountains and working from home – over a thousand jobs are available in the Canton of Valais alone. With resorts investing heavily to expand their amenities and a packed social and sporting calendar on offer, a primary residence in The Alps is an increasingly viable option.
For more information please contact Kate Everett-Allen