Switzerland · New-build & resale

Houses for sale in Switzerland: how foreigners buy property, new-build and resale

Houses, chalets and apartments for sale in Switzerland, and where Lex Koller lets non-residents buy: Andermatt, Verbier and more.

Switzerland real estate attracts two kinds of international buyer: people who already live in Switzerland and want a home, and non-residents looking for a holiday home in the Alps or on the lakes. Property for sale in Switzerland can be bought new-build, usually a condominium bought from plans from a developer, or as resale from an existing owner. For non-residents, both routes run through the same permit system, and in practice most foreign buyers are buying a holiday home in a resort where permits are granted.

The rule that decides everything is Lex Koller, the federal law on the acquisition of real estate by persons abroad. A foreign national living outside Switzerland generally needs a cantonal permit to buy residential property, and holiday-home permits come from a national quota of 1,500 units a year. Several cantons, including Geneva and Zurich, grant no holiday-home permits at all, so a non-resident cannot buy there. Andermatt is the exception, with a full Lex Koller exemption since 2007.

Natalie advises international buyers comparing Switzerland with Dubai and other markets. She can explain where a non-resident can and cannot buy, how the permit and second-home rules interact, and will come back with what is available on request.

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Can foreigners buy property in Switzerland?

It depends on residence status, not only nationality. Under Lex Koller, EU/EFTA nationals who actually live in Switzerland, and holders of a C (settlement) permit of any nationality, are not treated as persons abroad and can buy residential property without a permit. Non-EU/EFTA nationals living in Switzerland on a B permit can currently buy their main residence at their place of residence without a permit. These are the rules as of October 2026.

Non-residents can buy only a holiday home, and only with a cantonal permit within an annual quota (1,500 units nationally). As a rule the net living area should not exceed 200 m2 and the plot 1,000 m2, and the home may be let periodically but not permanently, so it is not a buy-to-let asset. Many cantons, including Geneva, Zurich, Zug, Basel-Stadt, Basel-Landschaft, Aargau, Solothurn, Thurgau and Appenzell Innerrhoden, have not introduced holiday-home permits, so non-residents cannot buy there. Valais, Graubuenden, Ticino, Vaud and Bern issue the most permits. Andermatt Swiss Alps has been exempt from Lex Koller since December 2007, so non-residents can buy there without a quota permit. On top of this, the Second Homes Act (Lex Weber) stops new second homes in municipalities where they already exceed 20 percent of housing, with exceptions for tourist-managed units and pre-2012 dwellings.

Lex Koller may tighten, but nothing has changed yet. On 15 April 2026 the Federal Council opened a consultation, which closed on 15 July 2026, proposing that non-EU/EFTA residents would need a permit for a main residence and sell within two years of leaving Switzerland, that cantonal holiday-home quotas be reduced, that a resale of a holiday home from one person abroad to another again need a permit, and that persons abroad be barred from commercial investment property and listed residential property shares and fund units. This is a proposal only: it still needs parliamentary approval and may face a referendum.

Off-plan

New-build property in Switzerland

Off-plan buying is less common in Switzerland than in Gulf markets. Where it happens, it means buying a new-build condominium (Stockwerkeigentum) from plans through a notarized purchase contract for the future unit. There is no off-plan escrow scheme comparable to Dubai, so protection depends on the contract.

Payments are typically a reservation payment (CHF 10,000 to 20,000 is cited as reasonable, depending on price), a payment at notarization, staged instalments tied to construction milestones, and the balance on handover.
Swiss lawyers cite three main risks: misuse of deposits, developer insolvency before completion, and contractors' liens that unpaid subcontractors can register up to four months after completion, which can mean paying twice.
Commonly recommended protections are payment through a construction trust account, staged payments and a bank or insurance completion guarantee.
A non-resident still needs a Lex Koller permit under the canton's quota for a new-build holiday apartment, except in Andermatt.
In municipalities above the 20 percent second-home threshold, new units can generally only be built as primary residences or tourist-managed units, which limits the new-build holiday homes open to foreign buyers.

Secondary market

Resale property in Switzerland

Most holiday homes bought by foreigners are existing properties. Every purchase is made by notarized deed and registered in the cantonal land register, and a non-resident's Lex Koller permit is usually a condition of the sale.

Check whether the unit is a pre-2012 second home or a primary-residence-restricted unit under the Second Homes Act, because restricted units cannot be used as holiday homes.
Confirm that the canton and municipality allow holiday-home sales to persons abroad before negotiating.
Check the property against the 200 m2 living area and 1,000 m2 plot guidance for holiday homes.
Budget for transfer tax, notary and land register fees, which differ by canton and commune.
Under the April 2026 proposal, a resale from one person abroad to another would again need a permit, which could affect future resale to foreign buyers if adopted.

Off-plan or resale in Switzerland?

	Off-plan	Resale (secondary)
Deposit and payments	Reservation payment, payment at notarization, then construction-stage instalments.	Paid on completion against the notarized deed and land register entry.
Buyer protection	No statutory escrow; trust accounts and completion guarantees are negotiated.	Land register entry; check use restrictions and encumbrances.
Permits	Lex Koller permit for non-residents, except in Andermatt.	Lex Koller permit for non-residents, usually a condition of sale.
Second-home status	New holiday units are limited where second homes exceed 20 percent.	Pre-2012 units can generally be used as second homes; restricted units cannot.
What you can inspect	Plans, permits and the developer's guarantees.	The finished home, its register entry and its use status.
Financing	Swiss banks lend to non-residents on their own terms.	Swiss banks lend to non-residents on their own terms.

Buying costs in Switzerland

Transfer tax: Levied by the canton and commune, so it varies by location; some cantons levy no separate transfer tax. Confirm the current rate with the canton.
Notary and land register fees: Every purchase needs a notarized deed and land register entry; fees are set cantonally.
Wealth tax: Owners pay cantonal wealth tax on the property; rates depend on canton and commune.
Annual real estate tax: Some cantons levy an annual real estate tax (Liegenschaftssteuer).
Imputed rental value: Abolished by popular vote on 28 September 2025, in force from 1 January 2029. Cantons may then tax mainly self-used second homes; the current system applies until then.

Purchase costs in Switzerland are cantonal, so the same price can carry quite different costs in Valais, Vaud or Ticino.

Residency through property in Switzerland

Switzerland has no residence-by-property route: buying a home does not give a residence permit. Non-EU nationals obtain residence through employment, family, study, financially independent retirement or expenditure-based (lump-sum) taxation agreed with a canton.

EU/EFTA citizens can obtain residence under the free movement agreement, for example with employment or sufficient means, and once resident they can buy without a Lex Koller permit.

Where buyers look in Switzerland

New developments and off-plan

Andermatt (Uri)Large resort development exempt from Lex Koller since 2007.
Verbier (Valais)Valais resort; new holiday units constrained by the 20 percent second-home rule.
Crans-Montana (Valais)Ski and golf resort; new-build mostly primary-residence or tourist-managed units.
Villars-sur-Ollon (Vaud)Alpine resort cited as open to foreign holiday-home buyers.
Montreux Riviera (Vaud)Lake Geneva area, including Mont-Pelerin, cited as open to foreign holiday-home buyers.
Lugano area (Ticino)Lakeside region in one of the leading cantons for holiday-home permits.

Established resale markets

Zermatt (Valais)Car-free resort above the 20 percent threshold; foreign buyers mainly buy pre-2012 units with a permit.
St. Moritz (Graubuenden)Engadine resort in a canton with one of the larger quotas.
Gstaad and Saanen (Bern)Bernese Oberland resort area with an established chalet resale market.
Davos and Klosters (Graubuenden)Established resorts with existing second-home stock.
Ascona and Locarno (Ticino)Lake Maggiore area with established holiday-home stock.
Geneva and ZurichResident buyers only: neither canton grants holiday-home permits to non-residents.

The market in numbers

The Swiss Residential Property Price Index rose 0.7 percent in Q2 2026 and 3.5 percent year on year; condominium prices rose 1.6 percent in the quarter while single-family houses fell 0.4 percent (FSO, 30 July 2026).
Cantons issued 703 holiday-home permits to persons abroad in 2023, about 47 percent of the 1,500-unit quota; Valais led with 313 and German buyers were the largest group (Federal Office of Justice data, published December 2025).
On 14 June 2026 Swiss voters rejected the population-cap initiative, to which the Lex Koller tightening had been proposed as an accompanying measure.

What to watch for

The 2026 Lex Koller proposal could cut quotas and require permits for resales between persons abroad, which would affect future resale to foreign buyers if parliament adopts it.
Outside Andermatt a non-resident cannot complete a purchase without a cantonal permit, and many cantons, including Geneva and Zurich, issue none.
Holiday homes bought under Lex Koller may only be let periodically, and Lex Weber primary-residence units cannot be used as holiday homes at all.
New-build purchases have no statutory escrow, and contractors' liens can be registered up to four months after completion.
From 2029 cantons may introduce a new tax on mainly self-used second homes, so holiday-home running costs may change.

Buying property in Switzerland: questions buyers ask

Can foreigners buy property in Switzerland?

Residents can: EU/EFTA residents and C permit holders buy freely, and B permit holders can currently buy their main home. Non-residents can buy a holiday home only with a cantonal permit within the quota, except in Andermatt, which is exempt.

Can a non-resident buy an apartment in Geneva or Zurich?

No. Neither canton has introduced holiday-home permits for persons abroad, so these are markets for residents only.

Should I buy new-build or resale property in Switzerland?

New-build gives a new unit with staged payments, but there is no statutory escrow and second-home rules limit supply in many resorts. Resale offers a wider choice of permitted holiday homes, provided the unit is not restricted to primary residence.

Is Lex Koller changing in 2026?

The Federal Council consulted on a tightening from 15 April to 15 July 2026. It is a proposal, not law, and needs parliamentary approval before it can take effect.

Does buying property in Switzerland give me residency?

No. Residence comes from work, family, study, retirement with sufficient means or lump-sum taxation, never from a property purchase.

How big can a foreigner's holiday home be?

As a rule up to 200 m2 of net living area on a plot of up to 1,000 m2, subject to the cantonal permit.

Sources

This page is general information, not legal, tax or financial advice. Rules and fees were checked against the sources above in October 2026 and can change.

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Can foreigners buy property in Switzerland?

New-build property in Switzerland

Resale property in Switzerland

Off-plan or resale in Switzerland?

Buying costs in Switzerland

Residency through property in Switzerland

Where buyers look in Switzerland

New developments and off-plan

Established resale markets

The market in numbers

What to watch for

Buying property in Switzerland: questions buyers ask

Sources

No public listings in Switzerland right now

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