“Access to home ownership is blocked,” he said in an interviewExternal link with the NZZ am Sonntag. He is therefore calling for tax incentives to be introduced.
“Switzerland does not encourage home ownership, even though it is a constitutional mandate,” Neff said, adding that in recent years homeowners have even been penalised fiscally because of the rental value.
He advocated the adoption of a qualified right of objection to building projects. “Anyone submitting an appeal must be able to prove a material interest and not just an ideological one,” he said.
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Voters reject ‘affordable housing’ initiative
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Swiss voters have rejected a people’s initiative to promote more affordable housing.
To those hoping for the property bubble to burst so that they can buy a home, the economist warned that they were betting on the wrong horse. “A crash would mean prices collapsing by double figures in a short space of time. I see absolutely no danger of that.”
Demand currently far outstrips supply, he said. “Prices cannot fall. Anyone who finds something they like and can afford should go for it.”
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Home ownership remains a mirage for most Swiss
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Many Swiss dream of owning a single-family home in the countryside. For most, this dream is increasingly unrealistic.
Switzerland to intensify border checks during sporting events
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In the context of events including the European Football Championships and the summer Olympics, border security will be increased.
Integration of Credit Suisse into UBS now complete
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Credit Suisse AG was formally integrated into UBS AG on Friday, with the former being subsequently deleted from Canton Zurich's commercial register.
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The list of cities in the running as well as the requirements they need to meet have not been disclosed. A decision is to be made by the end of August.
UBS fined CHF50,000 for suspected money-laundering negligence
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Switzerland’s finance ministry has fined UBS bank CHF50,000 after employees allegedly failed to report red flags of money laundering over several years.
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Swiss property market faces bleak future despite record values
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The Covid-19 pandemic has failed to rattle the Swiss property market. But the war in Ukraine and rising interest rates could turn the tide.
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