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Insights into buying real estate.

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In Switzerland, property purchases (asset deals) are subject to special regulations, and other peculiarities. Following is a quick overview of the second homes initiative, the Federal law of 16 December 1983 on the acquisition of real estate by persons abroad, formal requirements of the purchase contract, acquisition of land and warranty.

The second homes initiative

On March 11, 2012 Swiss voters resolved to impose severe restrictions on the construction of second homes in Switzerland. The popular initiative entitled "Stop the Endless Construction of Second Homes" calls for the proportion of second homes in a municipality to be kept at 20% or lower. According to the Ordinance on Second Homes, all homes not continuously used by persons domiciled in the commune, or used by persons for gainful or educational purposes, are deemed to be second homes. Owners of second homes will still be able to sell or bequeath their properties as second homes in the future, but the future halt to construction will trigger a shortage of supply. Therefore, their existing second homes are unlikely to be sold or sell at substantially higher prices than before, as with their current primary property, they will have practically no opportunity to build another second home. The Swiss Federal Supreme court ruled on May 22th 2013 (decision...

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