This is an economically and culturally highly developed region, represented by the cantons of Vaud, Valais, Fribourg and Neuchâtel. It is the heart of the famous Swiss watchmaking industry. A place also known for the production of cheese and chocolate. Finally, the Montreux Jazz Festival is held annually, attracting the world's best jazz performers.
According to Finansovye Izvestia, living on the shores of Lake Geneva is considered prestigious. Many of our compatriots dream of buying a house or apartment in this region. And it is not surprising: the Lake Geneva region is famous for its excellent opportunities for year-round recreation. In summer, you can go boating, enjoy swimming in the lake, and engage in active water sports; in winter, there are no fewer opportunities – the proximity of ski resorts (Gstaad, Leysin, the Porte Soleil region, Crans Montana, etc.) offers recreation for every taste and age.
What kind of real estate is for sale on Lake Geneva and how difficult is it to purchase? First of all, it should be noted that since there are many people who want to buy real estate in this region (and among potential buyers not only our compatriots), prices in places directly adjacent to Lake Geneva start from €4,000 per square meter, which is on average 20-30% higher than in nearby regions (for example, in the same Fribourg region, which is only 30 km from Lake Geneva). Local residents and real estate agencies are well aware of the increased interest in Lake Geneva from foreigners and take good advantage of it, often artificially inflating prices for foreign buyers.
Apartments
Apartments on Lake Geneva are diverse. On the secondary market, you can find both relatively new apartments, 2-10 years old, and older ones (20-30 years). The price strongly depends on location, view, and other factors (e.g., proximity to the city center, train station, etc.). As a rule, older apartments have a small area and small rooms – which is typical for Swiss housing.
Modern construction provides a fairly large area, spacious living rooms and bedrooms. Often houses are built in a cascade on a hill. Thus, almost every apartment has its own spacious balcony or terrace with a beautiful view of Lake Geneva. The new construction market is particularly active in the Montreux region and the surrounding towns along the shoreline (between Clarens, Villeneuve and the French town of Évian).
Recently, apartments in the town of Villeneuve (5 km from Montreux) were put up for sale, being converted from a previously operating hotel. Since the hotel almost directly adjoins the Lake Geneva promenade, the profitability of such a project is obvious, given the fact that finding and developing new land plots with access to the water in this region is becoming increasingly difficult. This is from the developer's and seller's point of view.
From the buyer's point of view, it all depends on willingness to pay for such "rare" projects (from €5,500 to €10,000 per sq m). It should be borne in mind that in the case of resale of such apartments (which under Swiss law is allowed to foreigners only after 5-10 years), you will most likely have to look for a foreign rather than a local buyer who is willing to pay at least as much.
Houses
Houses on Lake Geneva are divided into several categories. The first includes luxury homes, often with private water access and large land with an orchard or even their own vineyards. Among houses of this class, there are unique mansions (especially between Lausanne and Vevey), built in past centuries and actually architectural monuments. However, such houses, as a rule, require restoration with investments estimated at several million Swiss francs.
Another type of building on Lake Geneva is wooden houses built in the traditional Swiss village style with colored shutters, sometimes with an orchard and an outdoor pool. They are often on a hill, but you can also find something closer to the water.
The most attractive from an investment point of view, however, are old houses with simple finishes and a large plot of land. Recently, a house on a hill with a beautiful view of Lake Geneva and its own vineyard was put up for sale. The main value in this case is the land, the price of which increases annually in this region.
Land plots
Acquiring a land plot on Lake Geneva for development is quite difficult. Especially if the plot has its own water access. Switzerland is not a country that solves such issues with money. The fact is that the shoreline here is public property and must be open for access to everyone.
However, there are exceptions. And in the aforementioned region (between Montreux and the French border, near the town of Évian), plots for development are sometimes offered for sale. It is easiest for a foreign buyer to purchase a ready-made plot with real estate on it, and then rebuild the property "to suit themselves" and their needs.
It is worth noting only that the eastern shore of Lake Geneva (the stretch between Montreux and Évian) has one significant drawback: in winter (approximately from November to March) in this region, after 3:00 PM, there is practically no sun. It sets behind the mountains that surround the shore "from behind". The western shore of Lake Geneva (between Geneva and Vevey) is sunnier, and throughout the year.
And another important point: fog also occurs on Lake Geneva, so from this point of view it is better to buy property built on a hill.