03 November 2005

Switzerland property laws to change

The government says it wants to liberalise Switzerland's property laws, to make it easier for foreigners to buy homes in the country.

The cabinet called on parliament on Wednesday to scrap the so-called Lex Koller legislation, designed to limit the number of foreign residents owning property in the country.

In a statement, the cabinet said the Swiss property legislation was outdated, and scrapping it would boost the economy.

The proposal is now subject to a consultation process. Interested parties and stakeholders have four months to comment on the suggested change.

More here.

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