Go Back   English Forum Switzerland > Help & tips > Housing in general  
Reply
 
Thread Tools Display Modes
  #1  
Old 22.01.2011, 16:46
Newbie 1st class
 
Join Date: Dec 2008
Location: England
Posts: 12
Groaned at 0 Times in 0 Posts
Thanked 0 Times in 0 Posts
Feucheval has no particular reputation at present
Property prices in Lausanne

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
Reply With Quote
  #2  
Old 22.01.2011, 18:04
Forum Legend
 
Join Date: Aug 2009
Location: Vaud
Posts: 4,518
Groaned at 491 Times in 320 Posts
Thanked 4,099 Times in 1,952 Posts
CorsebouTheReturn has a reputation beyond reputeCorsebouTheReturn has a reputation beyond reputeCorsebouTheReturn has a reputation beyond reputeCorsebouTheReturn has a reputation beyond reputeCorsebouTheReturn has a reputation beyond reputeCorsebouTheReturn has a reputation beyond repute
Re: Property prices in Lausanne

Quote:
View Post
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...
Reply With Quote
  #3  
Old 22.01.2011, 18:08
V__'s Avatar
V__ V__ is offline
Forum Veteran
 
Join Date: Aug 2010
Location: Lausanne
Posts: 1,511
Groaned at 384 Times in 215 Posts
Thanked 2,082 Times in 866 Posts
V__ has a reputation beyond reputeV__ has a reputation beyond reputeV__ has a reputation beyond reputeV__ has a reputation beyond reputeV__ has a reputation beyond reputeV__ has a reputation beyond repute
Re: Property prices in Lausanne

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.
Reply With Quote
  #4  
Old 22.01.2011, 18:38
Forum Legend
 
Join Date: Sep 2006
Location: na
Posts: 11,377
Groaned at 37 Times in 33 Posts
Thanked 27,074 Times in 8,361 Posts
meloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond reputemeloncollie has a reputation beyond repute
Re: Property prices in Lausanne

Take a gander at this thread:

Explanation for the Swiss Housing System?
Reply With Quote
This user would like to thank meloncollie for this useful post:
  #5  
Old 22.01.2011, 19:08
TiMow's Avatar
Forum Legend
 
Join Date: Dec 2010
Location: Fribourg
Posts: 9,295
Groaned at 237 Times in 154 Posts
Thanked 12,188 Times in 5,300 Posts
TiMow has a reputation beyond reputeTiMow has a reputation beyond reputeTiMow has a reputation beyond reputeTiMow has a reputation beyond reputeTiMow has a reputation beyond reputeTiMow has a reputation beyond repute
Re: Property prices in Lausanne

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.
Reply With Quote
  #6  
Old 22.01.2011, 19:55
smackerjack's Avatar
Forum Veteran
 
Join Date: Jun 2007
Location: U.K/VAUD
Posts: 2,248
Groaned at 14 Times in 7 Posts
Thanked 2,695 Times in 1,112 Posts
smackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond reputesmackerjack has a reputation beyond repute
Re: Property prices in Lausanne

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
Reply With Quote
This user would like to thank smackerjack for this useful post:
  #7  
Old 23.01.2011, 22:21
Paulus Camillus's Avatar
Junior Member
 
Join Date: Oct 2009
Location: Helsinki, Finland
Posts: 60
Groaned at 0 Times in 0 Posts
Thanked 44 Times in 25 Posts
Paulus Camillus is considered knowledgeablePaulus Camillus is considered knowledgeablePaulus Camillus is considered knowledgeable
Re: Property prices in Lausanne

Quote:
View Post
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?
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
Reply With Quote
  #8  
Old 24.01.2011, 11:26
Nev
 
Posts: n/a
Re: Property prices in Lausanne

Quote:
View Post
Sadly with the pound - swiss franc exchange rate it would be a bad time to buy.
Probably the biggest factor anybody coming from the UK on assignment should consider right now.
Reply With Quote
  #9  
Old 24.01.2011, 21:09
Forum Veteran
 
Join Date: Feb 2007
Location: Secret
Posts: 573
Groaned at 4 Times in 3 Posts
Thanked 392 Times in 201 Posts
lilith has a reputation beyond reputelilith has a reputation beyond reputelilith has a reputation beyond reputelilith has a reputation beyond repute
Re: Property prices in Lausanne

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.
Reply With Quote
Reply




Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
Have rental prices gone up a lot in Lausanne? LMG Housing in general 1 04.07.2010 22:54
What are the prices in Geneva and Lausanne? Natali Housing in general 4 10.04.2008 14:48
Tracking prices paid for property in Switzerland clive7 Other/general 2 06.04.2007 20:06


All times are GMT +2. The time now is 20:37.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2022, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0