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Newsletter July 2020
Newsletter July 2020
Date
29.7.2020
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Dear real estate friends
The Federal Supreme Court has issued a landmark ruling on the Second Homes Act. Its Article 11 reads: “Existing dwellings may be extended within the Building zones by a maximum of 30 percent of the main usable area existing on March 11, 2012, provided that no additional dwellings are created.” The Federal Supreme Court has now clarified this interpretation and prohibits an extension of the area in the case of replacement new builds, even if no additional residential units are created. This means that many developers whose projects have not yet been approved will have to start planning all over again. This ruling will contribute to a further shortage in the supply of second homes and thus reduce the choice for buyers.
Best Real estate regards
Yours, Claude Ginesta