If you own an apartment in Geneva, or you’re considering entering the local property market as an investment, UpperKey can help you achieve the most from your venture in this wonderful, elite city. Handling every detail with the highest regard and care, we free up your time and provide an excellent return via a guaranteed rental income for Geneva properties. Our management team are exceptional. We treat every apartment as if it were our own, maintaining an impeccable condition to maximise potential and profitability.
Geneva: A Swiss led market in a land of commerce and industry
Acquiring a property in Geneva was once indicative of a strategic move and smart investment purely for tax purposes. Nowadays, the savvy investor and second-home owner are more likely to choose Geneva due to its lifestyle than its tax benefits. Geneva is a safe, economically stable centre for commerce. It is renowned for strong education, year-round adventure and sporting life activities, masses of culture and superb transport links. Geneva is beautiful, making it so easy to see why many choose to relocate to this stunning city. Life is sweet, safe, and the people are respectful and courteous.
Getting down to business—investing in a Geneva apartment
Real estate Geneva
With imminent tax reforms, a low level of income tax and a beautiful and exciting city to visit or live in, Geneva has plenty to offer. However, Swiss mortgage rules limit property purchases to between 6 and 7 times the buyer’s salary. Couple that with high property prices, and entering the market isn’t always as cut and dry as buyers would like.
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Switzerland offers a strong Swiss franc - strong bank account
The Swiss franc stands firm against the pound and the euro. This makes the property market slightly more challenging for the Brit to break into, and prime homes increasingly expensive for incomers. This could go part way to explaining why there is more investment from Swiss nationals than those breaking in from other parts of Europe or internationally.
A penchant for apartment living
Around 60% of the Swiss population live in apartments. This could also add demand problems in acquiring apartments as holiday homes. However, given a much higher percentage of apartments being owned by individuals rather than corporations, it’s a renters market that has lent itself well to the investor. If you consider that only 37.4% of the population of Switzerland own their own home, you can be confident that you’re buying into a robust rental market.
Information for the potential Geneva real estate investor
Investing in Geneva property offers a great opportunity. The market is dynamic and has consistently shown progress—a progression that isn’t showing signs of easing anytime soon.
Geneva is not only one of the country’s most important financial hubs but one of the world’s. It attracts the affluent and offers by return some magnificent and exceptional high-end real estate. Real estateagency is quite popular and growing business there
Restrictions on foreigners buying property in Switzerland
For foreigners trying to buy into the Swiss property market, there are a couple of strict rules that can bring the most hopeful of buyers to a standstill.
You can only buy property as an investment, rental or holiday home in Switzerland if you:
· Are an EU or EFTA national, with a Swiss permit, residing in Switzerland,
or
· Hold a Swiss C Permit
These are relatively big hoops to jump through. You can buy a property as your primary residence if you hold a Swiss B Permit, but commercial options and intents are then limited.
Falling outside the restrictions means it’s difficult to buy a property. You may be entitled to buy a license to purchase a property, but the stipulation of such varies from canton to canton.
Remember also of owning Swiss bank accont, bank deposit and bank guarantee.
What to expect from Geneva rental yields
Short term letting numbers
The gross rental yield in Geneva city centre stands at 3.4%. Only slightly less than the 3.61% rental yield for properties located outside of the major city-centre locations. Geneva’s yields offer better opportunities than in both London and Paris—a point worthy of consideration.
Property & Rental Values in Geneva
How much money do you need to buy an apartment in Geneva?
You’ll need, given the averaged out pricing, around £10k per square meter to buy into Geneva’s property market. (€11k)
The lowest-priced properties currently stand at £8k/m2 with the top end at just under £12k/m2. (€10k–€14k)
Typical rental prices in Geneva
A single bedroom apartment in the city centre offers an average rent of around 2K€ (£1,7K).
The bottom end of the market offers one-bed apartments at 1,3K€ /month (£1,1K) and top-end prices of around 1,9K-2,3K€ /month. (£1,6K-1,9K)
A three-bedroom apartment in the city centre will achieve an average rent of around 4,3K€ /month. (£3,6K)
At the time of writing, Geneva’s three-bed apartment rentals ranged from 3,5K-5,2K€ per month. (£2,9K-4,3K)
UpperKey works efficiently and effectively to provide great value, but also to maximise profit. By offering the generous guaranteed rent programme Geneva apartment owners need, within current market prices, we’re confident that we’re the best you’ll find.
Geneva—where are the best areas to live, visit, work and play?
Where are the best areas for visitors to stay in Geneva?
Geneva is a truly multi-cultural city. It boasts stunning natural beauty, surrounded by mountains and sat on the shores of Lake Geneva. It houses offices for both the United Nations and the Red Cross. And there is always plenty to see and do.
What visitors should be looking for from their visit to Geneva
For the first time visitor
The Old Town is steeped in history, dating back almost 2000 years. It provides a remarkable base, and a great area to explore, with winding streets, art galleries and antique bookshops.
There are plenty of bars, cafés and restaurants for visitors ready to take a well-earned break. After all, there’s a lot to take in. From being wowed by the Opera House, St. Peter’s Cathedral or quietly sitting back to soak up the ambience of the Place du Bourg-de-Four—the oldest square in Geneva.
When looking for style and sophistication
Now fully integrated into the city, Carouge was originally a town designed by Italian architects, sat at the outskirts. It carries its own distinctive feel and character compared to the rest of Geneva; it’s full of Mediterranean spirit. You can retrace the history of the area at the Musée de Carouge; however, it’s experiencing extensive refurbishment at the moment, but should be open once again and ready for visitors by early 2020. The local shopping reflects a more bohemian taste in Carouge; there are countless boutiques, tailors, artisanal shops, hip bars and cafés wherever one may turn.
Eaux Vives is a great choice for family visits
Eaux Vives is situated beside the Old Town on the shores of the lake. It’s unmissable, as it has a 140m high fountain at its heart. As well as the Jet d’Eau it features old and stylish cinemas, boutiques, thrift shops and a boho feel even stronger than you’d find in Carouge. Taking in the sights and sounds of Eaux Vives, it would be easy to think you’d stepped back in time—landing at the turn of the 20th Century. Anyone wishing for a slower pace should laze their way around the sprawling Parc de la Grange, adding further greenery to the area and the allure of it being the largest park in Geneva.
Built for night-owls and party people
Plainpalais is lively and very affordable for Geneva. This district operates around a vast open square, home to Geneva’s largest flea market. Due to the size of the great square, it often hosts the circus when in town. At the opposite end of the spectrum, Plainpalais is home to the most active nightlife in the city. Only a stone’s throw from the university buildings, it’s no surprise that this is an area full of bars, cafés and restaurants with a thriving younger generation. Due to their clientele, many of the bars are the cheapest in the city. When looking for a fun night out that won’t break the bank, the Rue de L’Ecole de Médicine is a popular haunt for younger residents and visitors alike.
Geneva visits for the more budget-conscious
Pâquis is close to the main train station and bordered by the lake. It’s an incredibly diverse area for Geneva, offering a massive selection of world food anyone would be hard pushed to find in the other districts. A lively neighbourhood despite its small size. It has plenty of bars, cafés and restaurants to back up its foreign cuisine outlets. However, Pâquis is also home to Geneva’s red light district—so be warned! Prostitution is legal in Geneva, and Pâquis has its share of drug dealers—elements we’re not typically used to drifting into so plainly throughout the UK.
For those thinking of living and working in Geneva
Given that Geneva is a global hub for finance and diplomacy, it lends itself to international relocation and career development. With a high quality of living and exceptional standards, there are plenty of work/life balance options and outdoor activities that are incredibly hard to resist.
Easy travel options in and out of the city
Transport links appear very close to the centre, with the airport and high-speed rail providing easy and accessible connections. Public transport is well catered for, with a single tariff to travel around the city using any of the different methods available. There are options for single tickets or to buy a pass for a week, a month or a year. The Swiss of Geneva do seem to like to keep things nice and simple.
There isn’t really a bad place to live when you work in Geneva
Geneva is relatively small and everywhere is easily accessible, making any commute a simple endeavour however you choose to do it.
For the young and single
Adventure bound relocators could be happily drawn to Central Geneva. It’s moderately expensive yet stunning, with a vast range of places to dine out and enjoy the culture. Properties by the lake are extremely popular with hi-flying young professionals and executives with higher incomes. Alternatively, Acacias is an industry-laden area with many prominent business headquarters finding their home here. Apartments tend to be small, and the buildings a little older. Pâquis is the liveliest, cosmopolitan and bohemian area of the city, so if it’s fun with a truly international feel you’re looking for from your new life in Geneva, it could be right up your street.
Family-friendly locations
Despite being so central, Grottes and Saint-Gervais still offer more of a village feel. There is a real sense of community with access to good schools—a great option for the young family on the move. Champel, Malagnou and Florissant all offer more peace and an escape from life in the city. Properties tend to be a little larger, ideal for families, who make up the majority of residents. As you’d expect from a family-friendly location, there are schools close by to keep things nice and simple.
Maximising property investments with guaranteed rent in Geneva
By accessing the tools and services UpperKey bring to every apartment we manage, our clients stand to gain more from their Geneva investments than they’d ever hoped.
Our standard policy offers one of the most competitive guaranteed rent programmes in Geneva. Not only does this remove risk, it adds the certainty of income every investor hopes for. Our guaranteed property rental programmes are working for apartment owners throughout this beautiful city. Browse through our customer testimonials to see how well it’s already working for apartment owners just like you.
The additional bonus experienced by our clients, is the amount of time they recover when passing the physical duties over to our team. Whether you choose to reinvest the time you’ll gain into additional business or investment practice, or whether you’d prefer to utilised it for more leisurely pursuits, that’s entirely up to you.
We’re confident that we’re the best choice of the guaranteed rent companies and agents in Geneva. We’ve proved it time and time again, and are proud of the excellent reputation we carry throughout the industry.
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