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The term “condominium” was first mentioned in the Swiss Civil Code (CC) in January 1965. It still has an important impact on the living situation of a vast number of residents in Switzerland today and has established itself very well.
The declared aim at the time was to allow a larger part of the population to become home-owners by allowing co-ownership of buildings. In contrast to a detached house, a condominium is usually still cheaper and thus easier to finance. In fact, since the introduction of the condominium ownership regime, home-ownership figures have risen to nearly 40 percent. However, owning a condominium is not only a good alternative to detached houses because of the financing. It also helps to conserve the increasingly scarce land resources, which automatically lead to a denser construction of new buildings. This is reflected in the increasing number of condominium complexes.
However, living in such a community is not equally suitable for all people and can sometimes become a challenge. That is why it is important to have sufficient information about this type of community of residents in advance.
Disclaimer: Condominium ownership is a lifestyle that bring various challenges with it. It may therefore be worthwhile to seek adequate advice before purchasing a condominium in order to be sufficiently informed about the advantages and disadvantages involved.
This handbook is intended to answer your most important questions on this subject, but cannot replace a concrete assessment of the specific situation in individual cases. We will be happy to advise you personally on your specific case. Contact your angel & Völkers real estate advisor, who is always happy to be there for you.
We have created this guide with the support of Bright Law AG, Zug | brightlaw.ch
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