SWISS ECONOMY 2012 To The Right Honorable Swiss National Bank President Philipp Hildebrand From: Athinarayanan Sanjeevraja Date: December 24, 2011 RE: Sovereign Debt Crisis in Europe & Real Estate Market Suggestion: Good Morning President I listened Schweizer Radio DRS1, you said that sovereign debt crisis in Europe and real estate market affect the Swiss economy. Well. The slow pace of the global economic recovery, intensifying sovereign debt crisis and high unemployment all continue to weigh on Switzerland residential property market. From my perspective Switzerland’s real estate market remains relatively buoyant. The main drivers of the demand for real estate in Switzerland are immigration, low interest rates and favourable mortgage lending standards. The free movement of people between Switzerland and the European Union has fundamentally changed the Switzerland real estate market. Moreover, low interest rates will continue to provide
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