Switzerland

Switzerland stands apart here: it is the only market on this page where a foreigner is, by default, allowed nothing. The federal Lex Koller restricts acquisition of residential property by "persons abroad", and across most of the country a non-resident simply cannot buy an apartment. Permits are issued against cantonal quotas, not against a buyer’s intent.

There are three narrow exceptions: holiday homes inside specifically designated resort zones, subject to an annual quota and a floor-area cap; purchase by a holder of a valid Swiss residence permit; and commercial property, which falls outside the restriction entirely. Andermatt is its own case — the resort holds a permission to sell to foreign buyers outside the general quota, which is precisely why its properties reach a non-resident audience at all.

The practical order of work is therefore inverted. First establish whether you qualify for a permit at all, then discuss the property: a significant share of Swiss offers circulating internationally is aimed at buyers who will not clear that bar. The permit regime is checked against the law as it stands on the day of the transaction, and that is work for a Swiss notary.

The motive here is the European motive in its extreme form: not yield but jurisdiction and preservation. Rent to price is lower than Dubai, running costs are higher, and the exit is unhurried.

The caveat: The right to buy matters more than the property: without a quota or a permit the transaction does not happen at all.

Projects with passports →