Hi,

Interested to hear anybody view on if the Swiss Housing Market is being affected by the global credit crisis? Been looking in Zug Canton for the past 2 years, and have the impression that the number of properties coming on the market has increased very slightly?

Anybody else watching/looking over the past year noticed any difference?

I've noticed a slight increase but I think that it's due to developers now building flats and houses to sell rather than rent.

I've noticed an increase in holiday homes for sale, as well as an increase in high-end type villas in low tax towns... read into that what you will.

I'm still getting the usual number unsolicited inquiries from estate agents, though, wondering if I'd be willing to sell my house - so I assume the demand for 'normal' homes is still quite high, and the supply still tight, in Ausserschwyz.

Still looking for the small farm of my dreams in Ausserschwyz/ZG... no change in the market there. As in, difficult to find/almost impossible to purchase.

I also think there is a slight increase in luxury items for sale. Whether this is to do with banking problems or just certain indviduals panicing or whether it's just a coincidence I can't say. Time will tell.

After a quick look at Homegate - yes there are loads more properties than a year ago.

Interest rates have gone up considerably since 2006 and jobs aren't as secure. Securing a mortgage may be more difficult now (as in the UK) and properties are taking longer to sell and need to be marketed (and not snapped up by bank employees beforehand). Perhaps people selling up after loosing their jobs and moving back home too.

As for the credit crunch's impact on Switzerland:
Friends visiting us from the Freibourg area yesterday said they know of 2 family friends that were asked by their local Kantonal bank to pay the outstanding amount on their mortgage.