Andermatt, Uri, Switzerland
3 - 4 Bed | 3 - 4 Bath
From CHF 7,160,000
Key Details
Andermatt, Uri, Switzerland
Andermatt. A Home in Uri Canton. In a wide, high valley close to the source of both the Rhine and Rhone rivers and below the vital Gotthard Pass, Andermatt lies at the very centre of Switzerland. Its strategic history includes time as an important trading town and a buzzy staging post for Alpine travellers. German poet Goethe described Andermatt in 1770 as “the most interesting and beautiful place” and that description certainly holds true today. After many years of operating below most skiers’ radar, Andermatt recently unveiled one of the most exciting and ambitious projects in the Alps. New hotels, modern chalet-style apartment buildings and extensive facilities from a Kurt Rossknecht-designed golf course to an indoor sports centre are making Andermatt the place to watch. The golf course and several new properties are complete. The first new hotel, the wonderfully opulent yet always intimate five-star Chedi Hotel opened in 2013 and immediately secured a place on Conde Nast Traveller’s Best Hotels List. Apartments and penthouses in The Chedi and other new-build homes in the resort have brought a new fan base to this long-established town. Andermatt Overview: Best for: Serious off-piste skiers, golfers and active families looking for a comfortable, year-round Swiss home free of all restrictions on foreign ownership. Property: Contemporary and fully serviced apartments and penthouses at various price points in a charmingly authentic and historic Swiss town. Who Owns There: Buyers from across Europe and the Middle East come for the Swiss quality of life, the world-class Chedi Hotel, bracing off-piste skiing, a PGA golf course and the potential of a year-round resort that is undergoing significant and exciting development. Access: Andermatt is well connected by road and rail, around 90 minutes from Zurich airport and within two hours of Milan.
Prices quoted include fit-out and vary between CHF 7,160,000 and CHF 19,714,000. Freehold Ownership with no restrictions Swiss Federal law prevents foreigners from acquiring residential property in Switzerland without a permit. The December 21, 2007 decision by the Swiss Federal Council granted The Chedi Andermatt an exemption from the terms of the Lex Koller Act and is giving international buyers the rare opportunity to buy residential property in Switzerland with no restrictions. Financing Arrangements have been made with leading Swiss banks to provide financing to qualified buyers at attractive interest rates. The typical loan to value (LTV) rate is 50-60% of the purchase price, although the actual LTV is determined at the bank’s discretion. Investing in The Chedi Andermatt The developer expect units to generate 2% net yield before taxes and expect a yearly capital appreciation of 3% to 5% in the next seven years once the Andermatt Swiss Alps development is completed and has reached its full potential. Taxation Owners of a residence at The Chedi Andematt are liable to pay income tax on the net rental income of the unit. If a residence is not earmarked for participation in the rental programme with the hotel, the basis for evaluating income tax is the so-called notional rental value (estimated at approx. 2.5% of the purchase price). If a residence is participating in the rental programme, the rental income as well as the value of the owner’s personal usage forms the basis for the income tax calculation. The income tax rate, depending on the individual tax situation of the buyer, is approximately 27%. An annual property tax of approximately 0.2% is levied in Andermatt on the value of a residence less liabilities. In addition, an annual charge for second homes of CHF 14 per square metre net-living space will be levied annually, unless the buyer rents out the unit on a permanent basis to The Chedi Andermatt hotel and uses the unit only for a short-term. The capital gain (difference between sales price and purchase price) will be subject to Swiss real estate capital gains tax of approximately 11% to 31% depending on the capital gains amount and the respective holding period. Acquisition costs The acquisition of a residence in The Chedi Andermatt is subject to a land registration duty of 0.2% on the purchase price, up to a maximum of CHF 10,000. Notary fees will amount to a maximum of 0.2% on the transaction price, with CHF 2,000 as a minimum. Annual running costs Owners will be responsible for a resort maintenance fee of approximately CHF 130 per square metre and utility charges of approximately CHF 37 per square metre (water, electricity, heating, telephone, TV, internet). The resort maintenance fee shall cover the charges, fees, cost and expenses payable for the maintenance, management, security, insurance, upkeep, renewal, repair and replacement of the common areas comprising also the common utility charges. Furthermore, owners are granted access to all the hotel’s public areas that are also accessible to hotel guests. Individual consumption of food and beverages, goods or services is not covered by the communal charge for costs. Rental Programme The buyer will be able to participate in the rental programme proposed by The Chedi Andermatt hotel. The unit owner will receive 50% of the actual net rental proceeds of his/her unit minus an administration fee of 12% and a marketing and reservation fee of 4%. Participation in the rental programme is not mandatory. Reservations To make a reservation for a Chedi ResidenceAndermatt, a potential buyer will be asked to complete and sign a reservation form, at which point a reservation fee of 3% of the total purchase price is due. The reservation fee will be refundable within 8 weeks from signing the reservation form, minus a handling fee. Payment terms 50% of the purchase price minus the reservation fee (first purchase price instalment) is due on registration of the Sale and Purchase Agreement. No interest is payable for this instalment. 50% of the purchase price (second purchase price instalment) is due at the time of the transfer of title.
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