Go to one of Forth Capitals seminars www.forthcapital.com
Tom1, Jul 20, 2009 @ 22:31

Demand still outstrips supply here in Geneva so property prices have not been affected as much as in other countries however there has been a slight drop in prices in Switzerland of around 5%. However I don't think that this applies to Geneva.

It is good time to buy because the interest rates are low and you can probably get a fixed rate lock in at 3% for 10 years. However you should try to buy at market value

The best way to look for property are through the following websites: www.homegate.ch  www.immostreet.ch  www.ghi.ch  and www.immoscout24.ch .These websites advertise most of the properties available.

To buy real estate in Geneva you need a residents permit and, to qualify for a mortgage, you will need to show an income. A bank will loan you up to 80% of the value of the property. This "value" is determined by the bank and a valuation of the property is performed by a qualified valuator (they will give you a list of names/companies and this cost is covered by you, and for an apartment costs around CHF 650). If you want to buy a property for CHF 1.1 million and the bank values it at CHF 1 million then you have to cover that extra CHF 100 000 (because they will lend you CHF 800 000 (80% based on their valuation of CHF 1 million)). Which brings us back to the point of trying to buy something at market value!! A bank will also determine how much they lend you on how much you earn.

I am an agent here in Geneva for an Immobilier and there is definitely no shortage of buyers here for properties below CHF 2 million. One of the big problems is that the sellers are expecting large gains/profits and are not being realistic. Would you buy a property that is overpriced? No in general you would not.

Good luck! Regards, Bruce

 
brucecopes, Jul 21, 2009 @ 01:23

Hi Bruce,

I would be very interested to speak to you. I live in the Lausanne area and have been looking to buy something for more than two years now. The problem is, I am just not convinced that it is a good investment but I am not sure how to do the long term calculations.

My gut feeling is that my current apartment which is really a fantastic place will probably cost me less in the long run than if I purchase an apartment. And I am very torn on whether it is a good idea to use my 2me pillier or not (or the 3rd...). Depending on who you speak with it is either a must or a very very bad idea.

Is there any place to go to get information on these types of questions. My French is decent, but I am finding it hard to grasp the ins and outs of purchasing property en francais!

Thanks for any info you might have.

Dejah
marsprincess, Jul 21, 2009 @ 13:13

Hi Dejah,



Whether withdrawing funds from your 2nd pillar might be a bad idea really depends on your broader retirement plans. But you know, if you can support a higher mortgage you can compensate for having a small deposit, simply by borrowing against the 2nd pillar, leaving it intact.



Then your 'long term calculations' come down to interest rates, property taxes and how to best repay the loan.



My firm deals with these issues for expats and is completely independent.



The main consequence of the current unemployment trend in the GE area, which might appear worrying, is that at least it is still possible to buy. The demand from employees of companies relocating seems to be inexorable and the future relaxation of the law banning property sales to non residents, all seems to bode well.



Good luck !

Phillip



[quote]Hi Bruce,



I would be very interested to speak to you. I live in the Lausanne area and have been looking to buy something for more than two years now. The problem is, I am just not convinced that it is a good investment but I am not sure how to do the long term calculations.



My gut feeling is that my current apartment which is really a fantastic place will probably cost me less in the long run than if I purchase an apartment. And I am very torn on whether it is a good idea to use my 2me pillier or not (or the 3rd...). Depending on who you speak with it is either a must or a very very bad idea.



Is there any place to go to get information on these types of questions. My French is decent, but I am finding it hard to grasp the ins and outs of purchasing property en francais!



Thanks for any info you might have.



Dejah[/quote]
wilycoyote, Jul 21, 2009 @ 13:47

Thank you for your reply Bruce. The only thing missing is for you to post the name and contact details of your firm!

Enjoy the sunny afternoon!

Djeah
marsprincess, Jul 21, 2009 @ 18:05

All,

Let me speak with some our financial partners and Regie partners to see if we can pull together a seminar on buying real estate in CH. Will revert asap.

Nir, glocals co-founder
Nir Ofek, Jul 21, 2009 @ 18:32

 

Sign me up!

thanks for the great idea!

Dejah
marsprincess, Jul 21, 2009 @ 19:59

OK apologies for the blatant advertising but you did ask!!

Bruce

Bruce Copeland
Alexander Immobilier
www.alexanderimmobilier.com

079 413 10 05
[email protected]
brucecopes, Jul 22, 2009 @ 11:37

As Tom1 says above - Forth Capital do regular seminars for Expat related issues - One of those is often on Property due to the popular demand, usually 3 a year at least.

Last month's seminar on was actually on "Expats Buying property in and around Geneva" which was all about historical values, projected values, popular buying locations and planned developed locations.  I have all the information if anyone wants it.  BCGE (Bank Cantonale Geneve) seem to be the most flexible on mortgage offers and usually blow UBS and Credit Suisse out the water - Especially due to only needing 15% deposit, not 20% which both these banks require.

I have the latest info on PDF from the last seminar, if anyone wants it send me a mail on Glocals and I'll happily share.

Cheers

Dean. :D
Deano1uk, Jul 22, 2009 @ 18:13

Hi all,

I'm looking for buying an apartment/house in GE, VD or neighboring France, so I bumped this old thread.

I'd like to know about your experiences, especially if you bought recently or are thinking to buy.  Thanks in advance.   

TheOmegaMan, Aug 17, 2011 @ 23:09