Oh how could we be so stupid?

[NotAllThere]

But house ownership in Switzerland is one of the lowest in the world so hardly much of a comparison no? Isn't there only something like only 30% of people aged between 25 and 65 that own their own homes.

45% overall. And I did say that it is a very different scenario , but that's precisely due to the measures taken to prevent it being an attractive investment.

The point was that there are things that can be done to cool the housing market.

[BlasterBates]

45% overall. And I did say that it is a very different scenario , but that's precisely due to the measures taken to prevent it being an attractive investment.

The point was that there are things that can be done to cool the housing market.

The Swiss housing market is probably the most expensive in Europe, I'm not sure you can draw conclusions from a housing market that is eye wateringly expensive and way beyond the reach of your average Swiss worker.

[Eirikur]

The Swiss housing market is probably the most expensive in Europe, I'm not sure you can draw conclusions from a housing market that is eye wateringly expensive and way beyond the reach of your average Swiss worker.

erm no looking at the price to income ratio it's better then the UK
https://www.numbeo.com/property-inve...021&region=150

[BlasterBates]

erm no looking at the price to income ratio it's better then the UK
https://www.numbeo.com/property-inve...=2021®ion=150

Show me a flat for sale that's affordable.

https://www.homegate.ch/

[NotAllThere]

The Swiss housing market is probably the most expensive in Europe, I'm not sure you can draw conclusions from a housing market that is eye wateringly expensive and way beyond the reach of your average Swiss worker.

So... the UK government couldn't raise stamp duty, and give a discount based on how long you've held the property before selling.
They couldn't possibly start to apply capital gains on house sale gains.
They couldn't possibly bring in a wealth tax
Couldn't change the law so gazumping isn't legal any more...

All temporarily of course. Just until the market has cooled down. You know, like how Income Tax was temporary.

Show me a flat for sale that's affordable.

https://www.homegate.ch/

https://www.homegate.ch/buy/3001019536 £280,000. Requires deposit of £56,000. Minimum salary to get a loan £47000 - which is the average salary of a worker in Switzerland.

[vetran]

Show me a flat for sale that's affordable.

https://www.homegate.ch/

£1000 a month gets you a 50m flat in Basel, doesn't seem to be over a kebab house!

[vetran]

NAT is right our government COULD cool the housing market, they just choose not to.

[NotAllThere]

£1000 a month gets you a 50m flat in Basel, doesn't seem to be over a kebab house!

That's £200 extra.

[vetran]

That's £200 extra.

what about a merc parked in a wall?

[Whorty]

So... the UK government couldn't raise stamp duty, and give a discount based on how long you've held the property before selling.
They couldn't possibly start to apply capital gains on house sale gains.
They couldn't possibly bring in a wealth tax
Couldn't change the law so gazumping isn't legal any more...

All temporarily of course. Just until the market has cooled down. You know, like how Income Tax was temporary.



https://www.homegate.ch/buy/3001019536 £280,000. Requires deposit of £56,000. Minimum salary to get a loan £47000 - which is the average salary of a worker in Switzerland.

I've said this many times on here before, there is no incentive to reduce house prices as the value of our house is what makes us feel 'wealthy'. If we feel well off, we're more happy to spend. We live in a mostly service industry economy so the government needs us to spend.

House prices drop, we stop spending.

And don't forget, the only people not happy about house prices are those without a property. Once someone gets on the ladder, they turn into the masses who wants to keep house prices high.

And as for gazumping ... there is no legal cure to this. At the point of gazumping there is no legal contract between buyer and seller, so you can't force someone to sell at price A when a new buyer has just come along who is offering A+x%. For all those who say Scotland works better ... no it doesn't - it's the exact same process. There are surveys, searches etc leading to exchange. At exchange you are committed to purchase/sell. The difference is, in Scotland, a buyer may be paying all this upfront and still not get the property (so effectively they've been gazumped).

The UK market is driven by supply and demand (and not as the xenophobes would have us believe, high immigration). The sales process is slow so people are reluctant to market their properties, so potential sellers are choosing instead to stay in their current homes and extend instead, rather than sell and move up the ladder.