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Euro 2008 property boon

Friday, 6 June 2008 12:00 AM

Travelling fans who visit Switzerland as part of this month's Euro 2008 football championships are likely to consider purchasing property in the country.

According to Sunday Homes - experts in the Swiss property market - the tax benefits and natural beauty of the country will prove alluring to potential buyers.

"I am absolutely convinced holiday visitors, or at least some of them, might consider buying, certainly if they regularly visit Switzerland," said Laurence Cederwall, manager of Sunday Homes.

"For example, ski holiday makers will find it more interesting to own a place with all its benefits, including capital appreciation, good rental yield, tax advantages and the possibility of reselling later on, than renting someone else's place over and over.

"That would also imply that they stay in their own property rather than in someone else's."

"This is the main reason why ski resorts will always plan hotels, and even schools if the village is large enough, and rental places in their scheme.

"Certainly young people come back at a later stage with their families."

The tournament is likely to being between 2.8 and 5.4 million visitors to the country, according to Switzerland.com.

It is also estimated the tournament will generate economically relevant revenues of between CHF 1.1 billion (minimum scenario) and CHF 1.5 billion (maximum scenario). This corresponds to an equivalent figure of between £0.6 and £0.7 billion.

"Sport fans from both summer and winter sports will definitely feel at home there," said Mr Cederwall.

"You often find places between a lake and mountains allowing watersports in the summer and ski and other wintersports in the winter."

Chris O'Toole

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