• Switzerland edition
 
Make foreigners wait to buy homes: Swiss party
Mirko Grifoni

Make foreigners wait to buy homes: Swiss party

Published: 19 Mar 2012 13:39 GMT+01:00
Updated: 19 Mar 2012 10:44 GMT+01:00

The Social Democratic Party wants to make property purchase for foreigners more complicated.

National Councillor Jacqueline Badran is proposing that foreigners be required to have resided in Switzerland for five years before they are allowed to purchase property, newspaper Tages Anzeiger reported.

Badran, an economist who also sits on the board of the German-speaking tenant association, believes that such a move would help'Makecool the property market, making housing prices lower and encouraging investors to create more rental accommodation.

“This is a very interesting proposal,” Social Democratic Party leader, Andy Tschümperlin, told the newspaper.

“Many Swiss families can not afford their own homes because of the rapid price increases.”

Badran explained that the returns are higher for investors when building homes for sale rather than homes for rent, meaning that not enough rental accommodation is being built to cater to the increasing need.

But Philipp Müller of the Free Democratic Party of Switzerland believes Badran’s proposals will not remedy the problem because developers will simply build properties to be rented for the first five years with an option to purchase thereafter.

Another potential issue with the proposal is that it may not be compatible with the free movement of people agreement to which Switzerland has subscribed.

“The contract stipulates that EU workers have the same rights as Swiss do when it comes to purchasing a home,” Müller said.

The proposed regulations could also make it harder for the so-called “foreign Swiss”, those Swiss not resident in Switzerland, or who were brought up in Switzerland but have spent many years abroad, to get on the property ladder upon return to Switzerland.

In order to accommodate this group, Badran suggests that the five-year period directly prior to the property purchase should not need to be spent in Switzerland.

Lyssandra Sears (news@thelocal.ch)

Don't miss...X
Left Right

Your comments about this article

2012-04-13 16:37:41 by evianers
As non-residents in CH, we managed to purchase a holiday apartment because the village which we chose is quietly but slowly dying. The village mayor and his team were very helpful and enthusiastic which meant that our purchase, 5 years ago, took place within 4 months and not the usual 2 years. It very much depends on where it is and what it is. If you chose Zermatt or Verbier for example, then be prepared to wait for a long time!
Today's headlines
Vote set for ban on food trading 'speculation'
Photo: Michael Buholzer

Vote set for ban on food trading 'speculation'

The Swiss will vote on a proposal to ban speculation on agricultural commodities and food, the government said on Wednesday, announcing that organizers had gathered enough signatures to put the issue to a referendum. READ () »

Tweet exposes Iran trip by right-wing Swiss MPs
Swiss People's Party MP Luzi Stamm. Photo: Federal Parliament

Tweet exposes Iran trip by right-wing Swiss MPs

Six members of the right-wing Swiss People’s Party (SVP) wanted to discreetly visit Iran without publicity last week but one of them inadvertently made the trip public in a tweet. 
 READ () »

Armadillo and crocodile meat seized at border
"Bush meat" seized by customs agents. Photo: Federal Customs Administration

Armadillo and crocodile meat seized at border

A Frenchman living in Switzerland was caught entering the country from France with unusual contraband in his suitcase: 16 kilograms of meat from exotic species native to the African jungle. READ () »

UN health agency hits back at vaccine foes
WHO headquarters in Geneva. Photo: Yann Forget

UN health agency hits back at vaccine foes

The Geneva-based World Health Organization (WHO) hit back on Wednesday against vaccine deniers who claim that immunization is pointless, risky and that the body is better off fighting disease unaided. READ () »

More protection sought for Lavaux vineyards
Photo: Malcolm Curtis/The Local

More protection sought for Lavaux vineyards

Voters in the canton of Vaud are set to go to the polls for a third time next month to decide on the future of Lavaux, the celebrated vineyard region east of Lausanne. READ () »

Zurich Insurance study warns of cyber risks
Photo: AFP/Getty Images

Zurich Insurance study warns of cyber risks

Organizations must dramatically improve their response to cyber risks to avoid a new global shock on the scale of the financial crisis that rocked the world in 2008, a study from a Swiss-based insurer concludes. READ () »

Zurich inaugurates city's giant quartzite plaza
Image: Raumgleiter

Zurich inaugurates city's giant quartzite plaza

The city of Zurich inaugurated the largest plaza in Switzerland on Tuesday night after a 17.2-million-franc ($19.5-million) facelift. READ () »

Geneva minister revives cable car project
Urban cable cars in the French city of Grenoble. Photo: Bastille-Grenoble.com (DR)

Geneva minister revives cable car project

Cable cars — just like those used to carry skiers up mountain slopes — have re-emerged as a public transportation option in Geneva, where authorities are struggling to deal with road congestion. READ () »

Police chief casts doubt on Swiss cup final future
Stade de Suisse. Photo: Martin Abegglen

Police chief casts doubt on Swiss cup final future

The final of the Swiss football cup may no longer be held in Bern after a police chief expressed his exasperation at clashes in the streets surrounding Monday’s final at the Stade de Suisse. READ () »

Swiss drink more homegrown wine
Consumption of Swiss wines within Switzerland rose by 10 percent in 2013. Photo; Caroline Bishop

Swiss drink more homegrown wine

After several years of decline, the Swiss are finally drinking more of their own wine. Consumption of Swiss wines within Switzerland rose by ten percent in 2013 to 107 million litres, according to figures released by the Federal Office of Agriculture (OFAG) on Tuesday. READ () »

RECEIVE OUR NEWSLETTER AND ALERTS
National
Bern finds solution for Erasmus student exchange programme
National
Bern zoo faces animal cruelty charges over bear cub deaths
Society
Swiss alpine ski champion announces same-sex marriage
Features
Former industrial zone transforms into Zurich’s trendiest spot
Tech
Swiss Solar Impulse team shows off new fuel-free aircraft
International
Suspect in Liechtenstein bank CEO murder case 'likely dead'
Sponsored Article
Caveman comedy comes to Zurich in English
Society
Innovative building provides refuge for hypersensitive tenants
Tech
VIDEO: Teenage boy sends Swiss army knife into stratosphere
International
Switzerland ranks second in world for social progress: report
National
Pharrell Williams set to perform in first Montreux jazzfest concert
Sport
American wingsuit flyer dies after Bernese Oberland accident
Advertisement:
Business & Money
H&M plans hefty Swiss minimum wage for employees by 2015
International
Caterpillar accused by US senator of dodging taxes through 'Swiss plan'
International
Geneva man in Facebook page fight with Italian carmaker Ferrari
International
Schumacher’s wife pays for 'medical suite' at Swiss family mansion
International
Aborted Swiss airlines take-off injures four at London airport
International
Swiss refuse asylum request from topless protest group founder
Business & Money
British expat former banker to head Swiss finance regulator FINMA
National
Swiss honey contains harmful plastic: TV consumer affairs report
Business & Money
Luxury watchmaker Patek Philippe threatens Geneva exit over taxes
Business & Money
World's largest watch fair opens in Basel amid uncertain times
International
'Fergie' credits hikes around Verbier mountains for recent weight loss
Etoiles de Montagne
Sponsored Article
How to summer holiday up a Swiss mountain
Swissbenefits
Sponsored Article
How to avoid Switzerland’s tax haven trap
International
Switzerland's residents are the happiest in the OECD: report
Latest news from The Local in Germany

More news from Germany at thelocal.de

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

2,074
jobs available