I’m from Switzerland and the article tells the truth. Buying is crazy expensive!
And there is one thing the article is not mentioning: if you own a house, there is a fictional “rent” income on your own property, which is “income” on to of your real salary income and gets taxed… there were many approaches to get rid of the law, but it never went through.
Also, in the last years the interest rates were crazy low for loans in Switzerland. 0.6% (!!) you read right was normal. It changed recently as the Swiss national bank increased its the reference interest rate to about 2.5% - still low compared to other countries. Which means, if you have 1m in load it meant 1m0.006 =6000/year of interest rate! Today 1m0.025=25000/year
And there is one thing the article is not mentioning: if you own a house, there is a fictional “rent” income on your own property, which is “income” on to of your real salary income and gets taxed… there were many approaches to get rid of the law, but it never went through.
Also, in the last years the interest rates were crazy low for loans in Switzerland. 0.6% (!!) you read right was normal. It changed recently as the Swiss national bank increased its the reference interest rate to about 2.5% - still low compared to other countries. Which means, if you have 1m in load it meant 1m0.006 =6000/year of interest rate! Today 1m0.025=25000/year