Most residential property costs between CHF 1,500,000 and 2,500,000, irrespective of location or condition. The current average prices per square meter for single-family homes and condominiums can be found in the Swiss Real Estate Offer Index.
Buying a home means investing a lot of capital, which is why a mortgage is generally necessary. But what are the requirements for obtaining a mortgage?
There are two basic prerequisites for obtaining a mortgage: First, prospective buyers must have sufficient funds of their own, i.e., equity. Second, your income must be high enough to be able to afford the property in the long term. This is referred to as the affordability of the mortgage. As a general rule, the imputed costs of owning a property (amortization, interest, maintenance costs and incidental expenses) should not exceed one-third of your gross income.
You can find more information about mortgage affordability in our article.
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