Report shows slump in foreign investment in Swiss real estate
(MENAFN – Swissinfo) According to new studies, the share of foreign investments in Swiss commercial real estate fell from 15% before 2011 to 5% between 2017 and 2019. The problem of foreigners buying cheap Swiss real estate during the Covid 19 pandemic is being discussed in Bern.
This content was published on February 14, 2021 – 5:19 pm. February 14, 2021 – 17:19 RTS / sb
Foreign investment in commercial buildings in Switzerland between 2011 and 2020 amounted to CHF 750 million (USD 841 million) per year or an average of 11% of total investment (CHF 6.8 billion). This is the result of studies by CBRE Switzerland, a commercial property service company.
Before 2011, the share of foreign investment was higher (15%), especially between 2005 and 2008, when many international investors entered the Swiss market before they partially withdrew after the financial crisis.
The exit of foreign investors from the Swiss market has been more pronounced in recent years (2017 to 2019), said CBRE. This is mainly due to the inflation of property prices and the high cost of the Swiss franc. Foreign investment accounted for only 5% of total investment during this period.
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2020 was an exceptional year due to “some very large deals”, added CBRE.
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Many of the overseas buyers who have invested in Switzerland over the past decade have come from the UK, Germany, France and Israel. With the exception of the hotel sector, Asian investors played a subordinate role.
In Bern, some politicians fear that the coronavirus pandemic could lead Swiss companies to sell their properties and that foreign investors could buy them at low prices.
A legal commission of the House of Representatives suggested in January that the “Lex Koller”, a federal law that restricts the acquisition of Swiss real estate abroad, be temporarily tightened. The Commission agreed to extend the restrictions to buildings intended for commercial or professional activity. The parliamentary initiative has yet to be approved by the Senate’s Legal Commission.
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