How to buy property abroad even during an economic crisis.
Buying Real Estate Abroad Despite the Crisis
In times of financial crisis, the purchase of apartments, as well as the development of the housing market in our country, has decreased. Indeed, by the end of 2008, the construction of many projects in our country came to a halt. However, in other countries also experiencing a financial crisis, the situation with housing construction did not significantly worsen. Why? The issue is that Russian citizens – or rather, those who can afford to buy an apartment – are increasingly interested in foreign real estate today.
As a result, real estate prices in Slovakia and Bulgaria rose by 15% at the beginning of this year, in Cyprus housing prices increased by 4%, and in the United Arab Emirates and Swiss resorts – by 25% and 30% respectively. On the other hand, prices for real estate fell in Spain, the USA, the UK, New Zealand, Ireland, as well as in the CIS and Baltic countries.
Perhaps one of the most attractive countries where many Russians want to buy property is Switzerland. There is no reason to be surprised, since the resorts and cities of this country, as well as its national character, show that real estate in Switzerland will always be profitable and will not lose value.
Why do most Russians want to purchase apartments in Switzerland? Regular bus tours to Switzerland, a year-round flow of visitors to Swiss ski resorts, and the political status of a country that does not engage in wars – all these factors make owning housing in Switzerland highly attractive.
But not everyone can afford to buy a house or apartment in Switzerland. On average, the price of a deal for an apartment in Switzerland is about 480,000 USD. The conclusion is clear: only wealthy people can buy houses or hotels in Switzerland. For what purpose? To avoid booking Swiss hotels for their next trip to Switzerland, or to set up their own hotel in Switzerland for tourists from around the world coming for ski holidays.
Both goals of investing in Swiss real estate are fully justified. Swiss cities are open to their guests almost all year round. Thanks to the unique climate and Alpine peaks, there is snow and sunshine here nearly throughout the year. Switzerland has long been developing its tourism sector, as evidenced by the numerous ski slopes, snowboard areas, curling and bobsleigh tracks, luge runs, equestrian facilities, and hiking trails. The infrastructure of each Swiss city and hotel is designed for the modern tourist, offering all the conditions for a comfortable and pleasant stay. All this, combined with traditional hospitality, makes tours to Switzerland very popular and highly sought after options for a pleasant and unforgettable holiday.