Transferring home ownership within the family remains popular, says Raiffeisen
St.Gallen - A study by Raiffeisen Switzerland has examined the process of transferring home ownership in Switzerland. Transfers within the family continue to be important but are not without conflict. Seeking advice in good time can ease the decision-making process.
(CONNECT) A representative survey by Raiffeisen Switzerland shows that the transfer of residential property within the family remains the preferred option. In addition to emotional factors, financial considerations reportedly play a central role.
Nearly half of those surveyed said financially supporting children was their primary motivation. However, the willingness to take over property is less pronounced: while 85 percent of homeowners with adult children can envision passing on their property, only about half of potential recipients feel the same way. Reasons for this include an inconvenient location or the fact that they already own a home.
While conflicts are common in the transfer process, they usually remain measured. Disputes were reported by about 80 percent of those transferring the property, roughly half of recipients and two-thirds of siblings. These primarily revolve around the property price, its condition or the timing of the transfer. Compensation payments also lead to tensions, with about 30 percent of recipients with siblings citing this issue as a point of contention.
According to Raiffeisen, a major cause of conflict is a lack of knowledge: 40 percent of the Swiss population feels inadequately informed about issues related to the transfer of home ownership. While many families do seek out external experts, about a quarter of those transferring ownership state that they did so too late. “Those who plan early, communicate openly and seek professional support lay the groundwork for a fair solution while preserving family cohesion,” commented Christian Rehefeldt, co-head of the Inheritance Advice Center at Raiffeisen Switzerland. ce/ja