Real estate reality.

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Prices of houses in the developed nations--other than in Switzerland--have recently witnessed a boom, According to a recent report, 'Making the Property Market Transparent', presented by the Zurich Cantonal Bank, Switzerland offers good value for money. The prices of houses in Zurich and Geneva have recently fallen behind those in cities like Paris and Munich.

At a press conference, Charles Stettler, head of the bank's private customers branch at the Zurich Cantonal Bank said, "I think what makes our market different is that Swiss property owners still remember the experience of the end of the 1980s, when they made big losses."

A Fair Market

He also said that the main finding of the survey revealed that the price levels here in comparison with those in other countries, particularly the US or Britain, is fairly valued." He remarked that many developed countries had experienced a major housing boom in recent years, particularly...

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