Switzerland

Although long popular as a holiday destination, Switzerland has until recently been considered a virtual no-go zone for foreign property buyers because of high prices and a raft of restrictions that seemed designed to ensure only the richest and most perseverant could purchase there. The rules have been relaxed since 2002, and you should be to buy without problem in the mountains, by a lake or in any other place designated as a tourist area. It is up to the 26 individual cantons – and even individual towns and villages – to set the precise rules. The French-speaking canton of Vaud, in the west, is one of the most accommodating; neighbouring Valais is slightly more restrictive. Some cantons forbid foreigners from selling within 5-10 years of purchase in order to prevent speculation and there are restrictions on the size and type of property that can bought and also on lettings. So why even contemplate buying there? For some, Switzerland has a cachet its neighbours lack. It is also not as expensive as you may think: property prices fell in the 1990s, although they have been rising moderately since the start of the new millennium. Swiss Franc mortgages are cheap and readily available.

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