Real estate in Switzerland. Swiss property prices
The Swiss real estate market is remarkably steady and shows sustainable growth. The prices of real estate in Switzerland rise by 1–3% a year in average. The buying price of properties in condominiums gained 56% from 1998 to 2011. The prices of Swiss real estate were increasing even during the 2008–2009 financial crisis and went up by 4.6% in 2013. Swiss property for sale costs €5,300/sq. m. in average.
Apartments in Geneva, Switzerland, are the most expensive and sell for about €14,000/sq. m. €1,500,000 can buy a house, which is twice as expensive as in the other regions of the country. Apartments in skiing resorts (Sankt Moritz, Verbier, Zermatt, Gstaad) are expensive too priced over €11,000/sq. m. Prime houses average €27,000/sq. m. Gstaad is the most expensive of the resorts with prime properties priced at up to €45,000/sq. m.
The Swiss market imposes a lot of restrictions on foreign citizens buying property. Non-residents may not buy property in every city and canton of Switzerland. A foreign citizen may not own a house of over 200 sq. m. or land of above 1,000 sq. m.
The demand for resort property rose by 65% in 2010. Prime property of over €1,000,000 is the most sought-after investment in Switzerland.