Go Back   English Forum Switzerland > Help & tips > Housing in general  
Reply
 
Thread Tools Display Modes
  #21  
Old 24.10.2016, 14:33
Dark Blue's Avatar
Senior Member
 
Join Date: Mar 2012
Location: Thalwil
Posts: 379
Groaned at 18 Times in 17 Posts
Thanked 411 Times in 242 Posts
Dark Blue has earned the respect of manyDark Blue has earned the respect of manyDark Blue has earned the respect of many
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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).
Reply With Quote
  #22  
Old 24.10.2016, 14:41
Member
 
Join Date: Jul 2016
Location: GR
Posts: 192
Groaned at 12 Times in 10 Posts
Thanked 53 Times in 50 Posts
wantone has become a little unpopular
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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?
Reply With Quote
  #23  
Old 24.10.2016, 14:47
Treverus's Avatar
Forum Legend
 
Join Date: Dec 2007
Location: Luxembourg
Posts: 11,457
Groaned at 288 Times in 245 Posts
Thanked 21,413 Times in 7,803 Posts
Treverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond reputeTreverus has a reputation beyond repute
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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.
Reply With Quote
This user would like to thank Treverus for this useful post:
  #24  
Old 24.10.2016, 15:03
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 13,504
Groaned at 269 Times in 175 Posts
Thanked 16,019 Times in 6,799 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
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!
Reply With Quote
  #25  
Old 25.10.2016, 04:34
Forum Legend
 
Join Date: Mar 2009
Location: Zurich
Posts: 11,867
Groaned at 696 Times in 507 Posts
Thanked 15,858 Times in 6,229 Posts
Chuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond repute
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.
Reply With Quote
  #26  
Old 25.10.2016, 09:15
Mrs. Doolittle's Avatar
Forum Legend
 
Join Date: May 2007
Location: Aargau
Posts: 6,008
Groaned at 120 Times in 87 Posts
Thanked 7,036 Times in 3,327 Posts
Mrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond reputeMrs. Doolittle has a reputation beyond repute
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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.
Reply With Quote
  #27  
Old 25.10.2016, 09:22
eyebeebe's Avatar
Forum Veteran
 
Join Date: May 2009
Location: Pfäffikon SZ
Posts: 1,618
Groaned at 16 Times in 15 Posts
Thanked 1,763 Times in 818 Posts
eyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond reputeeyebeebe has a reputation beyond repute
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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.
Reply With Quote
  #28  
Old 25.10.2016, 09:24
Helm's Avatar
Forum Veteran
 
Join Date: May 2011
Location: Zürich<->St.Gallen
Posts: 2,208
Groaned at 13 Times in 13 Posts
Thanked 4,127 Times in 1,370 Posts
Helm has a reputation beyond reputeHelm has a reputation beyond reputeHelm has a reputation beyond reputeHelm has a reputation beyond reputeHelm has a reputation beyond reputeHelm has a reputation beyond repute
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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.
Reply With Quote
  #29  
Old 25.10.2016, 09:25
Forum Legend
 
Join Date: Mar 2009
Location: Zurich
Posts: 11,867
Groaned at 696 Times in 507 Posts
Thanked 15,858 Times in 6,229 Posts
Chuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond reputeChuff has a reputation beyond repute
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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.
Reply With Quote
  #30  
Old 25.10.2016, 09:55
fatmanfilms's Avatar
Forum Legend
 
Join Date: Apr 2010
Location: Verbier
Posts: 18,214
Groaned at 292 Times in 241 Posts
Thanked 15,932 Times in 8,860 Posts
fatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond reputefatmanfilms has a reputation beyond repute
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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.


Sent from my iPad using Tapatalk HD
Reply With Quote
This user would like to thank fatmanfilms for this useful post:
  #31  
Old 25.10.2016, 10:07
Forum Legend
 
Join Date: Apr 2008
Location: Zurich
Posts: 3,328
Groaned at 59 Times in 39 Posts
Thanked 3,313 Times in 1,817 Posts
rainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond reputerainer_d has a reputation beyond repute
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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.
Reply With Quote
  #32  
Old 25.10.2016, 10:34
Phil_MCR's Avatar
Forum Legend
 
Join Date: Oct 2009
Location: Basel
Posts: 13,504
Groaned at 269 Times in 175 Posts
Thanked 16,019 Times in 6,799 Posts
Phil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond reputePhil_MCR has a reputation beyond repute
Re: Is Zurich experiencing a housing bubble?

Quote:
View Post
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
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
Thinking about buying. Good/bad idea with a housing bubble? diamondscan Housing in general 149 30.01.2017 17:41
Housing Market Bubble - CormacD Housing in general 1 26.01.2013 22:37
Housing bubble about to explode in the Arc Lemanique gva Housing in general 263 29.03.2012 09:52
Experts predict the housing bubble is about to burst olygirl Housing in general 84 23.08.2011 20:50
Is anyone experiencing trouble with Yallo signal/coverage? ukgalch TV/internet/telephone 2 02.02.2010 21:56


All times are GMT +2. The time now is 03:53.


Powered by vBulletin® Version 3.8.4
Copyright ©2000 - 2019, Jelsoft Enterprises Ltd.
LinkBacks Enabled by vBSEO 3.1.0