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| Lac Leman is one exception. What some housing 'experts' advise is to profit from low interest rates then give an example that rent a 3-bedroom flat in Geneva it would be between 3,500 and 4,000 CHF per month and if you buy the same flat for 800,000 CHF it would cost you significantly less in mortgage repayments. What they conveniently omit is that you can not possibly find such a flat at that price in Geneva. If you go on Homegate or Immostreet, it is more likely that the asking price would be 1.6 million. | |
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A libor mortgage for 1.3m at .9% is only CHF 1000 a month
I read in the local paper that landlords charge up to 40% more than they pay in mortgage costs. They justify this through repairs and maintenance, but from what i've heard, many tenants end up paying some of these costs too. I couldn't afford to rent the house I live in!