The law of Franz Weber, limiting the purchase of second homes, introduced by the Swiss leaders in 2013, has led to an increase in sales of real estate in the country, according to ee24.com with reference to 1-property.ru.
Under the new law, the number of residential properties purchased by citizens as a second home must not exceed 20% of the total housing stock of each locality in Switzerland, making the acquisition of property by non-residents in some cantons difficult or even impossible task.
Despite these limitations, the experts noted an increase in the number of requests for the purchase of real estate by 60% compared to last year. The constant influx of wealthy people in the country has led to an increase in housing prices by 30% in the period from 2007 to 2012.
In the next decade, experts calculate the number of wealthy foreigners residing in Switzerland will grow by one-third.