Particularly with apartments each purchaser acquires a share in the Propriete Par Etage (PPE), which means co-ownership by floor.
The total annual costs of an apartment building are shared between the individual apartment owners, proportioned according to the size of each apartment. As an estimate, the annual running costs of an apartment are around 0.8% to 1% of the property purchase price.
Typically these expenses include:
- Caretaker / social security contributions
- Maintenance of building and materials
- Water / gas / electricity and heating
- Insurance and various taxes
- Gardening and maintenance of roads
- Administration fees and various expenses
- An allocation to the building's renovation fund
In Switzerland, the owners of holiday property are subject to annual taxes. In total the taxes amount to around 1.3% of the property purchase price per annum.
This figure is made up of several small taxes including land tax, tourist tax and wealth taxes. Also included is a tax on estimated rental income from the property regardless of whether or not the property is actually rented during the year.
Taxes are paid to three bodies:
- The Swiss Government
- The Canton
- The Commune
Return to Buying Property in Switzerland
