Engel & Völkers
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What needs to be taken into account when purchasing a condominium?

There are a number of important points to consider when purchasing a condominium. It is vital that not only an excerpt from the land register be available for inspection, or a cadastral plan, for the housing unit intended to be purchased, but also for the main land plot on which this housing unit is located.

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Legal bases of condominium ownership

In Switzerland, the term “condominium” has been used since January 1965 and originates in Art. 712a et seqq of the Swiss Civil Code (CC).

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Rights and obligations in condominium ownership

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:

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Property - related taxes Advisor

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.

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Rental guide for owners of residential real estate

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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Heating renovation in existing properties - what you need to know

The renovation and updating of the heating has become a key issue, especially for existing properties, and should always be given top priority when buying a property. In addition to personal values surrounding environmental protection, future political requirements to replace fossil heat generation in residential buildings should also not be underestimated.

Contact

Contact your personal advisor

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Engel & Völkers Switzerland

Poststrasse 26

6300 Zug | Switzerland

Tel: +41 41 500 06 06