After reading a few posts on buying properties in Switzerland right now (July 2015) I want to ask the gurus of the Forum for their sage advice, based on our situation:
- Young couple, both employed with high/very high combined income
- EU Citizens, holding B Permits
- See Switzerland as a long term to live
- However, due to work, we may leave the country for 1-2 years, then come back again
- Enjoy Real Estate as an investment, own properties in our respective countries. IE, we like the buy and hold kind of asset
- Have reasonable income out of our respective jobs
- Would have cash for the downpayment
We just moved in an apartment with a pricy rent in Zurich but are seriously considering buying a property (apartment, house?) where we could live on and rent, if needed, whenever we have to work abroad for 1-2 years. We would see such property as a very long term asset (ie, for ever)
We also have been told that indeed the 20-30% required downpayment is the norm when working with banks, however, not required always when working with insurance companies (ie, Helvetia, Zurich, etc)
With all this as a background, what would be your advice? Would you go and buy given current prices in Zurich and interest rates?
In Zurich, we would be looking at either Kreis 6 OR Silver/Gold Coast.
Thanks in advance!