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Switzerland proves popular with wealthy Europeans

Swiss government rules restricting foreigners from buying properties in the country are not deterring wealthy Europeans, according to Alpine Homes.

Swiss government rules restricting foreigners from buying properties in the country are not deterring wealthy Europeans, according to Alpine Homes.

Jeremy Rollason, managing director of the property company, which is Savills’ agent for Switzerland and the Alps, said Switzerland remains the most popular European country for ski properties among Europe's ultra-high net worth individuals, with buyers seeing Swiss property as a safe investment.

“But buyers are usually not just buying a Swiss property to make money, it’s a lifestyle choice first and foremost,” he said.

Under current rules, some properties are not available for purchase by non-Swiss residents, although buyers can usually find properties to purchase in the popular tourist resorts, according to Alpine Homes.

The restrictions have helped to boost property prices – prices have grown 10% since 2007, figures from the company show.

In the more popular resorts, such as St Moritz, a re-sale chalet can sell for over CHF 35,000 (€27,750) per spare metre.

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