Hi,
I've been contacted by a company who are interested in interviewing my for a position in their company.
They are based in Lausanne.
I currently live in the UK.
I have had a quick scan of property prices and they seem incredibly expensive.
I think if I sold my house in the UK it would equate to 350,000 CHF.
Do most people tend to rent in Switzerland?

Thanks in advance
Feucheval

Yes usually people rent because it's expensive here to own something (apparently its something like taxed).
But if you are loaded, I suppose it's not such a problem...

My insurance agent told me that around 30% of the people in CH own their own houses. I don't know if it's true. The reason for this, according to him was the initial 25% of the value of the house that you need to have as a down payment to get approval for a loan.

About tax on estate, I don't know but I don't think it will be more expensive than renting.

Take a gander at this thread:

Explanation for the Swiss Housing System?

Unfortunately 350K wont get you much, especially in or near a city like Lausanne. I'm also not too sure how easy it is for non-Swiss to buy property here.
One of the reasons only a small percentage own property here, is because the mortgage system is so damned complicated, and completely favours the banks (profits).

When we bought our current dwelling (14 yrs. ago), we provided one-seventh of the total, plus had to surrender one of my (Swiss) wife's life insurance as security against default. The outstanding amount owed was then split into 2 separate debts (about 40/60, I think), each with its own different interest rate. There was no fixed term, provided the monthly interest only payments were met the bank was happy; although it was encouraged to reduce the first (40%) part of the mortgage. After that it was in the banks interest that the debt is never fully cleared -- and to a degree the householder due to tax relief against debts.
Following this ideal, the legacy you pass on to your dependants, can be one of debt as opposed to wealth.

However, due to the demand for more new houses and low interest rates more people are becoming house owners and the system is now slightly simplified in the regard that there tends to be only one mortgaged debt now, although a high percentage deposit is still required.

It would be prudent to rent at first as you need time to adjust to a different lifestyle.
Sadly with the pound - swiss franc exchange rate it would be a bad time to buy.
If you do end up in Lausanne do think of living outside , for instance around Yverdon property is cheaper to rent and it is not far on the train. Have a look at www.sbb.ch and look at timings and routes to Lausanne. You can search in english

Property prices are very high, and there is not much offer of flats/houses to buy. In Europe, Switzerland has the lowest proportion of people owning the dwelling that they live in.

As written by smackerjack, you have to adjust to the lifestyle and to a new working place. And then, when you are sure that you won't move back to the place where you were before (or at least, not in UK), you can consider selling that flat in the UK (that's burning boats for a smooth return in UK...), and get one in Vaud.

/Paul

Probably the biggest factor anybody coming from the UK on assignment should consider right now.

Most people tend to rent; given the high prices, getting the 20% mandatory down payment is too much for most people.

However, if you are willing to sell your house in UK, that can work as a really good down payment; and the morgage part is deductible from your taxes. If wnat to stay long term, and you find an apartment or house you like, it may be worth the trouble.