2010-12-31-莱坊-Swiss_Residential_Development_Report_2011_8页_872kb

报告摘要

Switzerland's residential market attracts HNWIs due to stability, low taxes, security, and high education quality, despite challenges from the global recession and geopolitical turmoil.
There is a significant focus on enhancing property quality to meet the demands of the growing number of millionaire households (expected 52% increase by 2020).
Key luxury global markets compare favourably with Switzerland in categories like education, tax, and security (e.g., Zurich over London or Monaco).

Switzerland exhibits strong economic stability (solid GDP growth, low interest rates, inflation, unemployment, and budget deficit), making it an attractive safe haven for investment.
The market features consistently positive value growth, averaging 4.6% per annum over the past five years. Lake Geneva area shows exceptional performance, with an average annual growth of 8.6%, driven by strong domestic demand.
Foreign buyers, particularly Europeans and increasingly Asians (BRIC nations), are key drivers of demand. The foreign population has grown significantly since 1995 (e.g., from 77,000 to 116,000), reflecting its appeal for investment, lifestyle, and business reasons. Geneva and Vaud are consistently popular cantons.

The Swiss development market weathered the recession relatively well, with positive housing value growth compared to many European counterparts.
Developers face challenges finding suitable prime sites, with only 30% land typically available (e.g., a competition for land near Geneva), leading to a focus on conversions and infill sites.
High-quality, unique development projects (like 51° Spa Residences, Du Parc Kempinski Geneva, Swiss Luxury Village Saas-Fee) integrate luxury lifestyles (health, leisure, security, vehicles, yachts), branding, and high-concept design to stand out.
Strategic partnerships (with luxury hotels like Kempinski) add value and appeal.

Growth is expected to continue, driven by high global wealth generation and mobility.
Demand pressure supports premium pricing for top locations like Lake Geneva and the Alps, which are becoming increasingly de-coupled from mainstream Swiss price performance.
Increased competition from other destinations is unlikely to significantly impact Swiss sales given its fundamental appeal.
Currency fluctuations (FRF devaluation) impact foreign buyers but also act as a stimulus for domestic demand.
New tax agreements and banking secrecy rules, while initially feared, have less severe negative impact than originally anticipated for wealthy UK buyers, but Switzerland's overall market remains robust.

Consensus on Swiss appeal: Stability, safety, exclusivity, beautiful places, and hidden corners justify premium prices.
Developers aim to push boundaries of exclusivity, often linked with international hotel partnerships.
The focus is on high-concept amenities (thermal water, cinema, restaurants, wellness, security, local design integration) and exceptional location (accessibility, views).
The overall market sentiment is positive, driven by demand and the conversion of standard stock to higher quality, while top locations remain highly sought after.

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