The income value is used to value real estate based on its expected long-term return. Learn how the calculation works, which factors are decisive, and where the limitations of this method lie.
The creation of a renovation fund is not required by law. However, if the regulations provide for the establishment of a renovation fund, this provision must be complied with. It is advisable to create the renovation fund already in the first year after completion of the property. The contributions paid in are earmarked and serve to maintain the value of the property. They are intended in particular for future renovation work, such as on the roof, building technology or on the building envelope.
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Purchasing condominium ownership involves specific legal and organizational considerations. This article outlines which documents and regulations should be carefully reviewed before buying – from land register extracts and easements to the regulations and the renewal fund. It provides prospective buyers with a concise guide to making a well-informed decision.
Learn about the legal basis for condominium ownership in Switzerland. You will gain an overview of the rights and obligations associated with condominium ownership and how the community of condominium owners is organized.
The acquisition and holding of a condominium are linked to numerous rights and obligations. The most important regulations and decrees concerning condominium ownership are the following:
Property ownership can result in a variety of taxes. These are generally determined by the location of the property – namely, in the canton where the property is located. This means that one person owning property in various cantons may be liable to pay taxes to different cantons. In such cases, different cantonal taxation systems come into effect, with the result that the taxation of property can easily become a rather complicated issue.
Renting a property often involves more work and financial outlay than selling a property. With a sale, the contractual relationship between buyer and seller usually ends when the purchase price is paid. It is not relevant whether the future owner will treat the building with care or not. Exactly the opposite is true for renting! Here you are entering into a longer contract – one that may often last for many years.
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Engel & Völkers Switzerland
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6300 Zug | Switzerland
Tel: +41 41 500 06 06