Quick question - probably for Richard as he is the guru

Are the rules for buying the multifamily houses in ski resorts the same as in Zurich - eg if you have bought a multifamily house in Zurich you can't buy anymore houses in Zurich with your B permit - does that rule also apply in ski resorts or can you by a multfamily house there and Zurich?

Lex Friedrich (or the Friedrich Law) no longer applies to EU citizens on a B permit or C permit holders, so I assume you are a non EU B permit holder.

In that event you are limited to one 200sqm property in Switzerland, unless you have kids over 20 and buy another in their name for example. Each canton has a quota of properties that can be sold to you, although now you can also buy a property already owned by a foreigner subject to application.

Daniel

Hi

I have a EU B permit

When did the law change?

Basically in parallel/with the EU bilateral agreements which were phased in since 2003.

I dont think it has any bearing on the issue, but what did you mean with multifamily house; mehrfamilienhaus? ie appartment block.

Daniel

Maybe she means Stockwerkeigentum in a Meherfamilienhaus

I mean a house which is made up of a number of appartments that you rent out - we have one in Zurich (we live in one appartment and rent out the others). I think its callled a mehrfamilienhaus

That is the right word then. An appartment block I guess you would say in english, an investment property. As mentioned I am not aware that you face any legal restrictions. Note however that in some resorts you may have real trouble simply finding one to buy at a sensible price eg Zermatt, St Moritz as it is controlled by the local real estate "mafia". Other like Davos seem much more international with dynamic markets.

D

All the ski resorts seem to have this mafia - its amazing that they get away with it - all the builders seem to run the geminde and say what can get built and by who.....

Lex Friedrich is really aimed at stopping foreign citizens from buying holiday homes in Switzerland and not from foreign citizens from buying principle residences in Switzerland. If you have a B permit you will only get into difficulties if you try to buy a big house or big plot of land, but if you can afford to do that then the Swiss authorities are likely to allow it - after all money talks here...

Where you do have problems is if you try to buy multiple properties, but again if you are in that market there are easy ways around these restrictions.

However in this case, as an EU resident citizen (permit B) or as a C permit holder there are no restrictions whatsoever on property purchases.

It's not just the ski resorts, its every gemeinde. Noticed how during Autumn they use up the budget by adding new roundabouts, and its the same 2 or 3 firms (its better for the backhanders to have some competition) who are building the local houses.

D

We've had some renovation work done here and all the quotes were very similar - not like the UK where you did get some differences - obviously they know what each other charge....

There is a half page story in last weekends FT 16-17/2 about buying in the Swiss french alps.

"It's tough if you are not Swiss" http://www.ft.com/cms/s/0/5cd74932-d...nclick_check=1

D

Could someone confirm that it is possible for a B permit holder to buy a Mehrfamilienhaus with 4 apartments (in Basel), live in 1 and then rent the other 3 out.

Has anyone done this ?

Thanks

I guess ex Manchester means your are EU B? If so it should be possible. Talk to any local bank or estate agent and they will confirm or not. Daniel