Wednesday, November 02, 2005

Making Swiss Property Open to Foreigners

With an attempt to boost the Swiss economy, there has been a movement liberalize laws making it easier for foreigners to buy property in Switzerland. According to Swiss Info, the movement was made by the cabinet on parliament who said the current Lex Koller legislation was too outdated.

In typical Swiss fashion, I'm not so sure the movement will be passed. However,
if the property market would open for foreigners the market would create jobs and increase the supply of rental properties which have been in shortage. The negatives of course are uncontrolled development and the possibility of urban sprawl especially in mountain resort areas.

The picture is of Montreux on a summer day in 2003. One of the houses in the row at the top was where I lived. I somehow don't think there will be any building in this area any time soon. It's populated enough as is.

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