With average house prices nearing 800 000 francs, the Swiss residential real-estate market continues to boom. Market participants say there is no end in sight as cash-rich Europeans and Russians keen to protect their assets fuel demand.
"I'm getting calls from Greek investors almost every day who want to buy a house here," says Robert Ferfecki, managing director for Sotheby's International Realty Inc. in Zurich, who is selling luxury homes in the German-speaking areas of Switzerland, including Zurich and Lucerne.
"Had Switzerland no restrictive property laws that limit what foreigners can buy, I would probably be able to sell my portfolio within a week," Mr. Ferfecki says, noting that Germans and Britons are the top buyers.