Pandemic increases demand for second homes in Switzerland

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Investec
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Demand for second homes has risen since restrictions related to coronavirus were loosened, according to real estate company Wüest Partner.

The option of remote working appears to be encouraging some to trade time in central city locations for more time in Alpine resorts, the countryside, commuter regions and smaller cities.

The prices of second homes have risen 3.6% over the last 12 months, according to firm.

Demand for independent houses in smaller cities, such as Fribourg, Neuchâtel and Sion, have risen too.

Over the longer term a trend towards less commuting and more remote working is possible. As proximity to work becomes less important, homes in commuter regions could become more attractive. A return to nature could reinforce a preference for holiday and leisure activities, intensify domestic consumption and increase demand for secondary residences, estimates the firm.

If such a shift takes hold it could reinforce the shift away from high street retail towards online shopping and put negative pressure on commercial property prices.

About Investec

Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to a niche client base in three principal markets, the United Kingdom, South Africa and Australia, as well as certain other geographies. Investec’s strategic goals are motivated by the desire to develop an efficient and integrated business on an international scale through the active pursuit of clearly established core competencies in the group’s principal business areas.

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