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  #21  
Old 24.10.2016, 13:33
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Re: Is Zurich experiencing a housing bubble?

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That rules out anyone with a residential mortgage,

Leaving CH & not having a permit is not an issue for renting out, only an issue for purchasing.
not sure if true but I have heard that you can not keep the property if you relocate and lose your permit (both B&C).
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  #22  
Old 24.10.2016, 13:41
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Re: Is Zurich experiencing a housing bubble?

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It will be a while until Swiss people can't afford their mortgages.

The banks use 5% as the base mortgage rate to calculate if you can afford your requested mortgage, however the market rates are currently around 1% - https://www.swissquote.ch/sqw-static...geRates.action (ridiculously low)
If the 10 year mortgage rate is also still ridiculously low, then even banks (ie: professionals) don't expect the rate to go up soon.


The problem many people have though, is finding the first 200,000 to buy a house, when needing a 20% deposit.
If one has 200k CHF to put as deposit are there new construction flats/houses available to buy?
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  #23  
Old 24.10.2016, 13:47
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Re: Is Zurich experiencing a housing bubble?

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If one has 200k CHF to put as deposit are there new construction flats/houses available to buy?
No. There are more buyers than projects, so flats typically sell already in the planning phase... so you put down your money on a development that has not even started to be build and you just hope it runs smoothly and the guys budgeted right. Generally speaking is planning and budgeting something the Swiss as better at than other countries... but you won't find any remotely desireable finished new flats ready to buy as per your question. It's either the second hand market or plan with 1-2 years between your contract and your shiny new keys to the door.
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  #24  
Old 24.10.2016, 14:03
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Re: Is Zurich experiencing a housing bubble?

I thought that prices were bad in ZH a few years ago, but looking at current prices, they are even more ridiculous!
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  #25  
Old 25.10.2016, 03:34
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Re: Is Zurich experiencing a housing bubble?

I guess I wasn't 'planning' to buy a place for a minimum of 10 years or so... although my company has a good mortgage deal where you can pay 10% cash and use 10% from your pension for the deposit which makes it quite achievable to get something modest within a shorter timeframe.

However, finding something in an area I like will be the challenge, I guess. Anyway, I see no rush as yet.
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  #26  
Old 25.10.2016, 08:15
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Re: Is Zurich experiencing a housing bubble?

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If one has 200k CHF to put as deposit are there new construction flats/houses available to buy?
Depends on which canton you are looking in.
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  #27  
Old 25.10.2016, 08:22
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Re: Is Zurich experiencing a housing bubble?

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I guess I wasn't 'planning' to buy a place for a minimum of 10 years or so... although my company has a good mortgage deal where you can pay 10% cash and use 10% from your pension for the deposit which makes it quite achievable to get something modest within a shorter timeframe.

However, finding something in an area I like will be the challenge, I guess. Anyway, I see no rush as yet.
That's standard and nothing to do with your company. You used to be able to do the full 20% from your pension, but the regulator stopped that a few years ago to try and avoid a bubble.
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  #28  
Old 25.10.2016, 08:24
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Re: Is Zurich experiencing a housing bubble?

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If one has 200k CHF to put as deposit are there new construction flats/houses available to buy?
Are we talking Zürich city center or surroundings?

I've built apartments in the surroundings and they were for sale for a while. It really depends on what you are looking for - if you want a new apartment next to the lake, you can forget it - there are enough new apartments for sale atm but 200k is not enough for the bank; if you want a large apartment with a view to the mountains but far from the center 200k is good enough.
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  #29  
Old 25.10.2016, 08:25
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Re: Is Zurich experiencing a housing bubble?

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That's standard and nothing to do with your company. You used to be able to do the full 20% from your pension, but the regulator stopped that a few years ago to try and avoid a bubble.
Well, they also have some additional conditions that make it more favourable, I just can't remember them off the top of my head.
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  #30  
Old 25.10.2016, 08:55
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Re: Is Zurich experiencing a housing bubble?

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not sure if true but I have heard that you can not keep the property if you relocate and lose your permit (both B&C).
You can keep property when you leave if your deposit did not come from you pension fund, a non resident can also inherit property.


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  #31  
Old 25.10.2016, 09:07
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Re: Is Zurich experiencing a housing bubble?

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Well, they also have some additional conditions that make it more favourable, I just can't remember them off the top of my head.
I know somebody who works for UBS (always has since he came to CH). He bought a house in 2007 or so and has been on Libor only. Before FINMA regulated it, he paid next to nothing (something like 0.2%) in interest - he basically got as close to "free money" as you can.
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  #32  
Old 25.10.2016, 09:34
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Re: Is Zurich experiencing a housing bubble?

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I know somebody who works for UBS (always has since he came to CH). He bought a house in 2007 or so and has been on Libor only. Before FINMA regulated it, he paid next to nothing (something like 0.2%) in interest - he basically got as close to "free money" as you can.
He should have bought a 100 unit apartment block
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