Swiss divided over restricting real estate market for foreigners
The consultation on the planned tightening of the Lex Koller law has revealed a deep divide between the political camps. Whilst business organisations and estate agents warn of serious disadvantages, political parties on both the left and right welcome the proposal.
The Swiss government intends to respond to the tight situation on the housing market by tightening the rules. In future, people living abroad will no longer be allowed to buy shares in listed residential property companies. The consultation on the plans ended on Wednesday.
More
Swiss government to tighten foreign property ownership
The left-wing Social Democrat Party and right-wing Swiss People’s Party supported the proposal. They argued that foreign capital was driving up property prices.
Business associations, the Centre Party and the Swiss Working Group for Mountain Regions, however, rejected the plans. They warned of negative consequences for Switzerland as a business location. Several property firms threatened to delist from the stock exchange. The proposed screening requirement is unrealistic, said Marco Feusi, CEO of property development firm HIAG.
+ How we produce English news
Translated from German, reviewed by an English Department journalist.
External Content
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.