Does anyone know for certain please whether once an apartment is allocated for sale to foreigners, whether other foreigners can then purchase the flat when it is subsequently put up for sale? Is this automatic, or does each application have to be taken on its merit and pass muster through Kantonal authorities? Thanks in advance.
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Sales to foreigners in Kanton Wallis
Jun 17, 2012 @ 13:04
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Does anyone know for certain please whether once an apartment is allocated for sale to foreigners, whether other foreigners can then purchase the flat when it is subsequently put up for sale? Is this automatic, or does each application have to be taken on its merit and pass muster through Kantonal authorities? Thanks in advance.
sheila cJun 17, 2012 @ 13:04
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Re: Sales to foreigners in Kanton Wallis
Post 1
Jun 17, 2012 @ 19:00
During recent years in Valais each commune had to approve sales to foreigners and these sales were limited by quotas different for each place. The waiting time for the final approval and receipt of full title could be months and years (in Verbier it was longer).
The foreigners who were buying the real estate objects were told that they could sell then to other foreigners, but always with a procedure of approvement in accordance with Lex Frederix.
The costs of sate and re-sale are quite high (ab.5%) in order to limit invesment purchases for speculation.
After the recent votation (2012) limiting the rate of secondary flats/houses to 20% in each commune, a new legislation has to be established, so the rules will change in the coming years.
The text you are quoting:
During recent years in Valais each commune had to approve sales to foreigners and these sales were limited by quotas different for each place. The waiting time for the final approval and receipt of full title could be months and years (in Verbier it was longer).
The foreigners who were buying the real estate objects were told that they could sell then to other foreigners, but always with a procedure of approvement in accordance with Lex Frederix.
The costs of sate and re-sale are quite high (ab.5%) in order to limit invesment purchases for speculation.
After the recent votation (2012) limiting the rate of secondary flats/houses to 20% in each commune, a new legislation has to be established, so the rules will change in the coming years.
Mikhail N, Jun 17, 2012 @ 19:00
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Re: Sales to foreigners in Kanton Wallis
Post 2
Jun 18, 2012 @ 12:55
Hi
Yes its automatic, the new legislation applies to new developments.
best wishes
Simon
The text you are quoting:
Hi
Yes its automatic, the new legislation applies to new developments.
best wishes
Simon
simon1, Jun 18, 2012 @ 12:55
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