In Switzerland, there is a favorable "mortgage climate", reported "Nasha Gazeta" referring to the Crédit Suisse. In 2012, property owners saved 5.4 billion Swiss francs (€4.43 billion) due to low interest rates (2.25%) on mortgage loans. For comparison, at the end of 2008, the average rate in the country was 3.45%.
Mortgage economy allows the Swiss to spend money on other things. The purchasing power of property owners has increased by 5.4 billion francs (€4.43 billion) per year, respectively.
Major creditors in the property market in Switzerland are cantonal banks (24 credit institutions issued 36% of all mortgage loans). In 2012, home buyers borrowed 835 billion francs (€685.2 billion), of which 304 billion (€249.5 billion) was issued by the cantonal banks.