Geneva Property Market and Real Estate Guide
, is renowned as the 'Peace Capital' of the world, and with a population of around 1.5 million permanent residents in the metropolitan area, is the second largest city in the country. Geneva is a popular, although expensive, place to live, and is repeatedly at the top of the best quality-of-life lists for cities around the world.
The real estate market in Geneva has remained relatively stable during the past few years in spite of the poor global economic conditions. A constant influx of visitors who choose to spend a few years here has caused a slight increase in property values and low interest rates have helped make home loans affordable. Buying property is not the norm here, although it is becoming more common.
Serviced apartments are the most popular choice for stays of less than two years, and the available options are vast. The high cost of living means most opt for leasing rather than purchasing, and the demand for such living arrangements has resulted in a wealth of facilities in locations throughout the city.
Renting Serviced Apartments
The majority of serviced apartments in Geneva primarily cater to corporate visitors on extended stays. Foreigners compose roughly 40 percent of the entire city population, which can cause difficulties in finding a suitable apartment as new developments have not kept pace with the growing demand. As a result, starting a search well in advance of the moving date is highly recommended.
Unlike in many other parts of the world, landlords in Switzerland usually do not deal directly with a tenant, at least when it comes to showing property. Real estate agents play an important role in finding serviced apartments for applicants to view.
Buying Apartments and Houses
There has been an increase of home and property purchases in Geneva of about five percent per year during the past three years. The demand for housing, especially among foreigners, continues to escalate, mainly due to Swiss laws conducive to homeowners.
Interest rates are low here, but buyers will need to allow an extra ten percent of the closing price on average for fees and miscellaneous taxes. Fortunately, banks do not have a monopoly on granting loans for home-buyers, which provides for some leeway in terms of acquiring financing.
Real Estate Agents
Geneva has seen more real estate agents opening up in the area of late, although it can still be a challenge for a non-resident to find one to suit their needs. The Internet is a useful tool, as is a personal recommendation.
Check out the following Geneva real estate agents:
Laurent and Mitchell
Address: Rue De Rhone 14, Geneva, CH-1204, Switzerland, CH
Tel: +41 022 557 7939
Laurent and Mitchell is the premier company for foreigners wishing to rent serviced apartments in Geneva.
Address: 10, Chemin Malombré, Geneva, CH-1211, Switzerland, CH
Tel: +41 022 839 0900
Moser Vernet has capable agents who will assist you in your search for a home in Geneva or the surrounding areas.
Address: Rue des Bains 31 Bis, Geneva, CH-1211, Switzerland, CH
Tel: +41 022 809 0909
CGI Immobilier can help you find a serviced apartment or home in this part of Switzerland.