The recent move of the Swiss National Bank (SNB) to set a minimum exchange rate against the euro will impact favourably on the Swiss property market, predicts international property search specialist Quintessentially Estates.
While the SNB’s intervention was primarily driven by the need to protect manufacturing interests and prevent unemployment, the property market is convinced of a positive knock-on effect.
Head of International Sales, Penny Mosgrove, says, “Over the past year, rising prices in Switzerland saw many buyers from the eurozone effectively priced out the market. This latest development has restored confidence and we expect to see an increase in enquiries for Swiss properties.”
“Although Switzerland still remains expensive in comparison to similar locations in Austria and France, it remains attractive to buyers because of its stable property market and availability of low mortgage rates,” she continues. “The Swiss property market is heavily reliant upon foreign buyers and cannot afford to fall too far out of step with the rest of Europe.”
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