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Having seen UK prices over the same period, I'm surprised Swiss prices aren't much higher...
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Thats because there are not the same level of owner occupiers & banks have been less reckless requiring deposits of 20% v 5% currently in the UK. -10% deposit was available 10 years ago in the UK 10 years ago with self certification of earnings. If someone earning 25k can borrow 1 million house prices will rise......
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| P.S: I do not think Switzerland in general and Zurich in particular is a bubble. As long as incomes are as high as they are, tax as low as it is and the rental market as healthy as it is... is a property in a decent location a good long time investment. If you can only afford it as your ONLY investment is it probably not for you though... | |
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Prices have risen far faster than salaries in ZH, so yes that would sound like a bubble to me. If salaries are 15% higher than 15 years ago I would be surprised, I would expect them to be 5-7% higher than in 2001 on average.