Interest in Swiss property jumps 174% in two years

Searches for properties in Switzerland have increased by 174% in the space of two years, according to data from property website Primelocation.com.

The number of searches for Switzerland – a well-known tax haven – from December to February, rose by 43% between 2008-09 and 2009-10 and then rose by a further 93% between 2009-10 and 2010-11.

Since the announcement of the 50p super tax in 2009, concerns over the migration of financial services professionals to countries benefiting from ultra-low tax rates such as Switzerland have emerged, with the Swiss Federal Migration Office also reporting that 383 British banking and financial services professionals moved to Switzerland in 2010 – a 28% increase on 2009.

Primelocation.com’s International Search Index puts Switzerland as the seventh most searched-for country, with France topping the list, followed by the United States.

Most searched for countries between Dec 2010 and Feb 2011:

1. France
2. United States
3. Spain
4. Italy
5. Portugal
6. Cyprus
7. Switzerland
8. United Arab Emirates
9. Australia
10. Turkey

Nigel Lewis, property analyst at Primelocation.com: “The fact that areas of Switzerland enjoy low rates of taxation is just one of a multitude of factors that make the country an attractive place to move to. With a stable and wealthy economy and a resilient property market that withstood the effects of the economic downturn much better than many other European countries, it’s easy to understand why many highly-paid professionals, particularly those in the financial services industry, would be tempted by Switzerland.

“Our search data certainly suggests that since the start of 2009, interest in Swiss properties has rocketed. In fact, Switzerland is now the seventh most searched for country and is receiving more interest than countries like Australia and the United Arab Emirates.”