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Old 04.08.2008, 11:46
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Property Investment



I have been looking around for some time now for property to invest in here in Switzerland.

After getting over some of the extortionate prices i have found a couple of flats (new build) that i am interested in.

I am wondering what the deal is with owning property and renting it out here in Switzerland if i lived abroad, as it looks like its on the cards that i wont be here next year (i will know in November/December).

It is possible that i can still stay registered here if the above will be a hassle (i.e. still get a small wage from my company and keep paying my SANSAN etc...) so on paper i am still living and working in Switzerland. Although i would prefer to do things by the book.

I plan to buy 2 flats and rent them both out and then sell them in 5-10 years (depending on the climate at the time).

I did look at plots of land and the possibility of building something from new, but even if i had the GDP of a small African nation in my bank account the return on investment was not worth the time, money or hassle.

Cheers
SC
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Old 04.08.2008, 11:57
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Re: Property Investment

Quote:
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BTW, That structure is in Vernonnet, France.
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Old 04.08.2008, 13:26
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Re: Property Investment

I can't see how you can administer two let flats if you are abroad. If you outsource this, your margins will be slim.

As you intend to sell in 5-10 years any profit (who knows where property in heading?) will be subject to Grundtuckgeweinsteuer (profit on property tax) at up to 40%. IMO the project is a non-starter and you should look at other investments outside the Swiss property market.
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Old 04.08.2008, 13:29
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Re: Property Investment

plus you might find that, for non-occupancy, you pay a different mortgage rate than you would if you're living there......

you want to talk to someone in the tax/accountancy field IMO
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Old 04.08.2008, 19:25
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Re: Property Investment

Also, this might not apply to you, but if you use your retirement fund as a deposit, the property must be your primary residence. If it is not, the can "call in the loan" and you must pay back the money into the retirement fund.
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