Lake Geneva : a region experiencing a REAL ESTATE BOOMING

Publié le Wednesday 17 August 2011, dans Economy news Tagged , , , , , Permalien

THE HOUSING CRISIS IS ALWAYS GNAWING GENEVE : MIGRATION TO FRANCE
Geneva’s growing population has not been anticipated these last 15 years. Indeed, the economic and fiscal policies in Geneva attract about 30 new inhabitants in the Genevois franco-suisse. The chronic inability of Geneva to build housing projects results in a rental boom, the departure of young people and the middle class to the neighbouring France.
The french shores of Lake Geneva is in favour : the idyllic living environment and the large number of towns ans cities which are located at less than 25 min away from Geneva are 2 main assets that make it so popular.

FRENCH BORDERS OF LAKE GENEVA IS BEING ON THE CREST
Lake Geneva, also called Lake Leman, means Switzerland, Geneva, the banks, the luxury hotels, but also the breathtaking panoramas. Nestled between French ans Swiss Alps, lake Leman is identified as one of the most beautiful lakes all over the world. it’s as well a border in the shade, the French borders, the underside of the mythical lake Geneva which is riding high today.

A GROWING INFATUATION
An italian CEO working at the head office of an international group, a swiss couple working in the heart of Geneva, a Parisian mutated to Cologny district by his company… Each day, people living in Geneva or at the periphery for professional reasons, all nationalities taken together, are looking for apartments or villas close to their workplace.
To that may be added the rich foreig customers who would like to purchase a second home in order to spend their holiday time : high class apartments with nice view over lake Geneva, luxury villas and mansions are highly prized by them.
We can’t either forget the investors who perfectly know that a real estate investment in a town or a city in Le Chablais region, next to lake Geneva and easy to access to Geneva, is a safe investment which would ensure to them a rental yield of about 4% Excl.Tax and a capital gain of about 20% over 5 years.

THE PROPERTY DEVELOPERS IN HAUTE SAVOIE DON’T KNOW WHICH WAY TO TURN
‘The local elected officials ask us for the construction of 5 000 accomodations per year. As far as I’m concerned, I deliver approximately 300 accomodations per year, with between 700 and 800 accomodations continuously under consideration. Today, we are able to deliver only 2 000 to all of us, property delevopers in Haute Savoie’, testifies Mr Frédéric Casasola, CEO of the real estate society Casasola, which is established in Le Chablais for more than 30 years, more precisely in Thonon les Bains, at the edge of lake Geneva.
‘ 3 weeks after having opened the sales of our apartments for the second building of Les Palais du Leman in Evian, we had already sold almost everything. It’s unbelievable’, declares Mr Casasola.

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