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Old 01.01.2019, 14:57
meloncollie meloncollie is offline
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Re: Advisable to buy property in Zurich?

While for us it made sense to purchase our house once we had an idea that we would stay here, while I hated renting with a passion as home ownership is very important to me, I am nonetheless glad that we waited and did not buy at first.

You see, the Swiss market is not like many others. You really need local knowledge to understand what is best for you. For some niches the market is dry as a bone, if you are looking for certain types of properties only one or two may come on the market in any given year, competition for those is fierce. Yet on the other hand, some sectors are overbuilt, those properties sit on the market for years. Lots of properties are overvalued. Given the paucity of the market it's hard to set prices, and emotion plays a huge part for many sellers. Are we in a bubble and if so, when will it burst? Who knows, this has been debated for years. It's all about local knowledge. Making a mistake here can be costly, as most cantons impose a short term sale tax penalty.


Were it me, I'd rent for a few years, first to decide if Switzerland is someplace you wish* to live long term, and secondly to gather that all important local knowledge.

All the best with the move.


*As you are non-EU, it would be prudent to keep in mind that the ability to live here long term isn't guaranteed.
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