Article in *Die Weltwoche*: Interview with Katerina van der Laan, “The Swiss Are Still Very Good Buyers”

The Real estate marketing firm Ginesta Immobilien AG has been in business since 1944. Based in Küsnacht, the company currently employs about eighty people across ten locations. With the launch of Ginesta Collection this May, the long-established Swiss real estate company has created a standalone brand for exclusive residential properties and select vacation homes in Switzerland and abroad. To this end, Ginesta has entered into a partnership with Knight Frank, the world’s leading real estate network in the premium segment. Ginesta Collection is led by Katerina van der Laan, who has been with Ginesta for just under three years. We met with her at the company’s headquarters in downtown Küsnacht for an interview.

Weltwoche: What is the current state of the Real estate market?

Katerina van der Laan: The international luxury real estate market remains robust. Prime locations and high-end properties continue to be in demand despite geopolitical and economic uncertainties. We are currently seeing significant shifts. Buyers who, for example, had previously focused heavily on Dubai are increasingly turning their attention back to Europe. Switzerland is regaining its appeal, even though Dubai is less regulated and offers tax advantages. However, marketing times have become longer. Clients are internationally connected, well-informed, and compare options very carefully before deciding on a Property.

Weltwoche: What is the situation in Switzerland?

Van der Laan: Switzerland remains one of the most stable markets.

Weltwoche: In which regions are you strongest?

Van der Laan: Around Lake Zurich, in the Lake Constance region, and in the Engadin. But we also have a strong presence with our new Ginesta Collection brand in cantons that offer tax advantages—such as low wealth and income taxes or options for lump-sum taxation. Ginesta Immobilien AG operates in a much larger market area: from the greater Zurich region through the cantons of Schwyz and St. Gallen to the Rhine Valley, as well as throughout the canton of Graubünden.

Weltwoche: What is in highest demand in the luxury segment?

Van der Laan: Properties with tax advantages, in a good location, with a view. Ideally, you’d want to live right on Lake Zurich—or even in Lake Zurich itself (laughs). It has to be ready to move into—in other words, everything has to be prepared and furnished so that all you have to do is move in. That’s rarely the case, though, because tastes regarding furnishings and materials vary widely, especially in this segment. At Ginesta Collection, we also focus on exceptional properties.

Weltwoche: What does that mean?

Van der Laan: Exclusive properties valued in the tens of millions, lakeside properties, historic buildings, castles, estates with vineyards, and vacation homes in the Upper Engadine. To that end, we launched Ginesta Collection this May and entered into a partnership with Knight Frank. This enables us to provide brokerage services for these exceptional properties worldwide.

Weltwoche: How exactly did the partnership with Knight Frank—one of the world’s largest real estate networks—come about?

Van der Laan: We’ve had a close and trusting relationship since 2012. Knight Frank was looking for a strong, locally rooted partner in Switzerland, and we saw an opportunity to offer our clients access to an international network. We launched the official partnership at the beginning of the year. It was crucial for us to remain independent and to be able to continue fostering our corporate culture. That is exactly what this partnership enables. We benefit from Knight Frank’s international network of buyers without having to submit to a franchise model. At the same time, we contribute our market knowledge and our strong roots in Switzerland. Both sides benefit from this.

Weltwoche: Why aren’t you active in French-speaking Switzerland and Ticino?

Van der Laan: We focus on regions where we have a strong presence and in-depth knowledge of the local real estate market. Where we do not have a direct presence, we work with selected partners, such as Knight Frank for Western Switzerland, which covers Verbier and the hotspots in the canton of Vaud and Geneva.

Weltwoche: You also have a presence in the magnificent Lake Constance region. How popular is it compared to Lake Zurich?

Van der Laan: Interest in the cantons of St. Gallen and Thurgau—and thus in the Lake Constance region—is high, and I sense that it’s growing stronger as time goes on, especially thanks to the option of lump-sum taxation. Furthermore, there are many castles and large estates in the area that offer plenty of privacy. The price level is also very attractive compared to Central Switzerland or Zurich. The region offers interesting purchasing opportunities, particularly for buyers who value quality of life, proximity to the lake, and attractive locations.

Weltwoche: Because there’s more space?

Van der Laan: Yes, that’s true as well. And, of course, price plays a role. Comparable lakeside properties can be significantly less expensive on Lake Constance than on Lake Zurich—in some cases, up to half the price. In addition, the region has good infrastructure and the airport is nearby. The region is less densely populated and offers very scenic surroundings. But as a business hub, Zurich has a stronger international presence than smaller centers like St. Gallen or Schaffhausen.

Weltwoche: What’s all the rage in Graubünden right now?

Van der Laan: St. Moritz and the entire Upper Engadine remain the hotspot for an international clientele. Lenzerheide, Arosa, Laax/Flims, and Davos/Klosters appeal to the domestic buyer segment. I recently sold a very exclusive and expensive property in Davos. Most of the interested buyers were from Switzerland. Davos is particularly popular among people from Zurich.

Weltwoche: What do you recommend: renting or buying?

Van der Laan: If you have enough Equity, you should buy if possible, given the low mortgage rates and the steady appreciation in property values. Renting, on the other hand, offers more flexibility.

Weltwoche: How are prices changing? Is everything getting more expensive? What’s driving prices up?

Van der Laan: High demand and limited supply are driving up real estate prices. Single-family homes, in particular, are becoming a scarce commodity. Many older, relatively small homes sit on spacious lots and are being replaced by larger developments.

Weltwoche: There’s something of an unwritten rule that if you own a house, you shouldn’t sell it, even if you have no heirs. Does this still hold true? What’s the prevailing sentiment these days?

Van der Laan: That has changed significantly. Today, some communities of heirs are opting for Sales. For example, if four people inherit a property and one of them wants to take it over, that person must pay out the others. Given today’s real estate values, this can quickly require a significant amount of money—which isn’t always available. That’s why Sales are often the most practical solution.

Weltwoche: Is there a market similar to Switzerland’s when compared internationally?

Van der Laan: Switzerland is exceptional in many ways. It offers a high degree of political and legal stability, and its real estate market is also relatively stable. While certain aspects can also be found in places like Monaco or Singapore, for example, real estate markets around the world function very differently. This is already evident within Switzerland itself, where markets vary from canton to canton.

Weltwoche: What is the most difficult part of your job?

Van der Laan: Recognizing when a property and a person are truly a good match. In our Collection premium segment, the requirements are highly individualized and often more complex. Much of this cannot be captured by general search criteria. You need market knowledge, a strong network, discretion—and, above all, a very keen intuition and understanding of a wide variety of people.

Weltwoche: What does the real estate market look like for the next 12 to 24 months?

Van der Laan: I expect the tight supply to continue. Demand is also likely to remain steady in the premium segment. Much depends on geopolitical and economic developments. Sentiment can change quickly, especially in the international premium segment.

Weltwoche: What is your most attractive offer right now?

Van der Laan: We have many exceptional properties in the Collection segment that are very special simply because of their locations. Take, for example, the historic estate above Lake Constance. Today, this castle-like property stands as a prestigious country estate with its own vineyard.

Weltwoche: What direction is the trend heading in?

Van der Laan: Switzerland has traditionally been a country of renters. The homeownership rate has risen only slightly from 34.6 percent in 2000 to 36 percent today. Since 2015, the rate has actually fallen from 38.4 to 36 percent. Since purchase prices have risen sharply, we do not expect this rate to increase significantly in the coming years.

Weltwoche: Are more affluent foreigners coming to Switzerland right now?

Van der Laan: We are not currently seeing a significant increase in our customer base. The strongest demand from abroad continues to come from Germany, although tax considerations in Germany—specifically exit taxation—also play a role. However, there is certainly no rush of foreign buyers. Particularly in the high-end segment—starting in the double-digit millions—buyers already residing in Switzerland, both Swiss nationals and foreigners, remain a very important and financially strong buyer group.

Weltwoche: How do you convince a prospective buyer of an offer?

Van der Laan: It’s a combination of everything. The property itself must, of course, be compelling. Especially in the high-end market, the property’s appearance must live up to expectations. Not a single brick should be loose, and the pool shouldn’t be full of algae. Optimal presentation and precise Positioning are crucial. Who is the property suited for? A family, a single person, or multiple generations? We tailor our entire Brokerage strategy to this, from the visual style to the choice of words. Ultimately, though, buying a home is also an emotional decision. That’s why the entire experience matters. How well does someone feel they’re being advised? Is trust being built? Especially in the premium segment, this plays a decisive role in the final stage of the transaction.

Weltwoche: How long does a luxury property typically stay on the market?

Van der Laan: That varies too much from case to case and cannot be quantified statistically. Some properties are sold off-market after one or two viewings, while others remain in the Portfolio longer. As mentioned earlier, finding the right buyer takes longer today than it did a few years ago. We generally expect it to take six to twelve months. For very specialized properties—such as castles or historic estates—it can take even longer.