Switzerland
Swiss real estate is some of the most coveted in the world, but the country also has some of the strictest rules when it comes to foreign ownership.
- The government assigns annual quotas to the country's cantons limiting the number of houses or flats that can be sold to foreigners who do not reside in Switzerland. Each sale must still be authorized by the canton in which the property is located, and the cantons can set their own additional restrictions. Many limit foreign property sales to tourist regions, for example, or allow foreigners to purchase only property that is already foreign-owned.
- Foreigners can buy only one property to be used as a holiday home or a secondary residence. They cannot purchase a property for the sole purpose of renting it out, although holiday homes can be rented out periodically on a short-term basis.
The Swiss alpine resort town of Andermatt is one of the few places in Switzerland where foreign ownership of real estate is unrestricted. Luxury studio apartments marketed as vacation properties can sell for several million dollars. (Arnd Wiegmann /Reuters)- Property owners need special authorization if the surface area of their real estate exceeds 1,000 square metres.
- In some cantons, foreigners are barred from selling their property for a certain number of years after purchasing it — generally between five and 10 years.
- If foreigners buy vacant land, they must build on it within a year.
- Foreigners who live in Switzerland do not need to get prior authorization to purchase real estate that will serve as their main residence and can rent out the property or use it as a holiday home if they move to another part of the country.
- One area that is exempt from restrictions on foreign ownership of property is the alpine ski resort town Andermatt, where luxury condominiums marketed to wealthy foreigners as vacation properties can sell for several million dollars.
- Foreign nationals from EU members states and some other European countries who want to buy property do not require the same type of prior authorization as other foreigners.
