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Old 10.04.2015, 12:10
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Buying property in France with Swiss B permit

I am an EU national living and working in Switzerland on a B permit. I have

I am thinking of purchasing a small apartment in France (near Geneva) and take out a mortgage to do so.

My questions are:

1. What is the required down payment for purchasing property in France? I was told 10-15%. Can anyone confirm this? Second part of this question is: Will the bank cover the down payment as well or will that have to come out of my own pocket?

2. Once I purchase the property, can I rent it out? I understand that I can not do so in Switzerland as the property would have to be my primary residence. I don't know if this is different in France.

3. Will a Swiss bank provide financing to me for purchasing property in France? Or is going to a French bank my only option? Assuming that a French bank is an option in the first place.

To be clear, I plan on continuing to live in Switzerland and at the same time have a property in France for the purpose of renting it out to another tenant.

Thank you in advance for your responses. I have had a look through the Forum to search for similar questions/answers but was unable to find anything.
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Old 10.04.2015, 12:26
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Re: Buying property in France with Swiss B permit

You have to pay the down payment on a rental property will be higher than as a main residence .
A French bank is more likely to lend. You will need to ask the bank how much in CH it would be about 35 % deposit for an investment property .
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Old 10.04.2015, 12:46
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Re: Buying property in France with Swiss B permit

I would caution you against buying an apartment in France to rent out. You will get tax complications, service charge issues with the block, dodgy notaries, dodgy valuations, France is renowned for that. If you must buy in France get a standalone property, mid terrace in a town if you want low maintenance. There are lots of places in Switzerland with cheap flats, may even be closer to your work. France is simply not as good as Switzerland, if you are working here.

In Switzerland the deposit for rental depends on the yield. If the bank aren't willing to lend you the money it might not be a good idea, unless there is a way to increase yield! Banks in Switzerland will lend 80% on a rental, but you might not find something so easily that matches the yield required, hence suggested 35% deposit (which I think indicates a poor buy). You could also buy a flat or house in CH to live in and commute, renting out space in the flat, and maintaining a small room near work for Tuesday to Thursday. If prices go up in Switzerland then you can remortgage and rent out. If they don't, then you are lucky you didn't buy something bigger!!!
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