Switzerland has always stood out to many as a fantastic destination to head to for mountainous views, high peaks in the Alps, quaint wooden-clad villages, and plenty of snow for an active break away. Renowned for its hiking trails and ski resorts, Swiss watches and chocolate, it’s hugely popular with tourists. However, banking and finance are also key industries in Switzerland – as such, it’s also a big hit with property investors too.
Back in 2015, it was announced that Biogen would be developing a next-generation biologics manufacturing facility in northern Switzerland. The manufacturing plant, which is reportedly costing up to $1.4 billion to build, will see hundreds of jobs (a predicted 400) brought to the area. With plans to continue spending up to $2.5 billion in developing drugs for Alzheimer’s disease once up-and-running, this will continue to be an area in which many professional jobs arise. It is thought work will be finished on the plant in 2019.
The athletics drive is also hotting up in Switzerland, with the country becoming the first to officially enter itself into the 2026 Olympic Winter Games bid. If the country is successful, it will be their third Winter Games in Switzerland – the first two occasions being in 1928 and 1948. The goal is for Sion to play host and will cost several billion Swiss francs in investment. The belief is that, if successful, Switzerland will see a significant economic impact on the country as a result. It will also see potential growth in other aspects of sport across the country, in which many organisations will seek to rally around in support.
It might be worth noting that Moudon has been voted as one of the country’s most beautiful villages. With a 13th-century gothic church, views over the river Broye and medieval architecture dating back to the Roman times, it is idyllic, quaint and peaceful. It also has many guided visits, two museums, a heritage walking tour and an active tourist office, which all help to improve how many people are visiting the area. At the moment, there are 26 villages throughout Switzerland holding this unique and prestigious label. This includes Avenches, which was the capital of Switzerland during the Roman era, and the mountain village of Grimentz.
Meanwhile, in 2016, the picturesque hamlet of Morcote, which sits on the side of Lake Lugano, was voted out of 12 finalists to be named as the loveliest village in the country. It only has 770 inhabitants, but is popular with those visiting because of its lakeside location, as well as the botanical gardens and beaches. It follows on from Soglio, which won in 2015 and Gruyères, which won in 2014.
Switzerland is a booming country, and this has been added to by a population surge. There’s going to be plenty of demand for property in coming years. In 2016, the population in Switzerland grew by 90,600. This is a 1.1% increase, which has seen the overall number of people living in the country become 8,417,700. If this rate of growth were to continue, it is thought that this figure would double within 64 years. Meanwhile, 24.9% of those living in the country during 2016 were foreigners. Now is definitely the time to buy.
Get in touch today to find out more about buying or selling properties in Austria and Switzerland, either for yourself or as part of an investment portfolio.