Until recently Switzerland has not been an option for foreigners looking to buy property. Aside from prohibitive prices, the many legal barriers to purchasing were a major turn-off.
However, recent relaxations on restrictions governing non-Swiss buying residential property have made it more attractive to overseas purchasers.
Each of the country's 26 cantons has a yearly quota of how many homes can be sold to foreigners. Restrictions vary considerably and, even within a canton, rules can differ from village to village. Some areas still don't sell to foreigners, others restrict foreign ownership of a new scheme to 20 per cent.
As it stands, non-Swiss buyers may only buy one property per family and the net floor space of the property must not exceed 200sq m (2,152sq ft).
Property prices have been very stable in Switzerland (about 3-4 per cent growth in the last 30 years).
Growth, however, in big resorts has been strong (10-15 per cent).
Costs associated with buying vary from area to area. Normal notary fees will cost around 3 per cent and you will have to pay a community property tax.
In the canton of Grisons, for example, it's 2 per cent.
A big draw for some foreign owners is the fact that inheritance tax and gift tax in Switzerland is very low.
Starting in 2008, there is no inheritance tax in the canton of Grisons for direct relatives. A buyer may also transfer property to one or more direct relatives without any gift tax.
:quality(70)/cloudfront-eu-central-1.images.arcpublishing.com/irishtimes/6BDEAESQEJH4BHNFRSVZH3W4TM.png)