Riviera-living in Europe usually conjures sea/surf/sun summer scenes. But the Swiss version offers a more versatile proposition altogether.
At the eastern end of Lac Léman – which curves like a croissant around Switzerland to the north and east and France to the south – Swiss Riviera towns such as Montreux, Vevey, Villeneuve and their surrounds bask in a micro-climate that sees palm trees share the vista along with distant snowy peaks, and means that winters are blissfully fog-free.
And the tidy vineyard terraces of neighboring Lavaux – a UNESCO World Heritage Site – produce wines so beloved by Swiss residents that only a tiny fraction contribute to the mere 1% of Swiss wines earmarked for export beyond the nation’s rocky borders.
Along with the rugged Rochers-de-Naye and Dents du Midi peaks accenting your view of the lake (widely known as Lake Geneva), you have the utter luxury of being able to throw open your doors, patter across your lawn and dip your toes (or entire body, as many cold-water acolytes like to do in winter) in Switzerland’s largest body of water. And when those snowy slopes beyond beckon, the ski resorts of Gstaad and Verbier are just an hour’s drive away.
Premium values
Waterfront properties in prime locations all over the world come at a premium, boosted by our longing for space and blue views since Covid times. On Lac Léman, expect to pay as much as three times more per square meter of land, compared with similar, non-lakefront homes, according to data from FGP Swiss & Alps.
But even the highest-end properties, such as a large, fully renovated toes-in-the-water house in the Riviera’s jewel town of Montreux – which can cost around CHF 20,000 to CHF 25,000 per square meter – look like good value compared with their mountain equivalents. In Verbier, Switzerland’s priciest resort, official average super-prime prices are touching CHF 45,000, and in Gstaad, under-the-radar off-market sales can achieve nearly double that. Montreux is also one of the few lakeside towns to sanction the sale of property to non-resident foreign buyers.
Connections and convenience
“It’s cheaper to buy property on the lake, plus you get more outdoor space than in a typical ski resort and every season presents a different tableau vivant with the changing colors,” says Hervé Rigois from FGP Swiss and Alps of the lake’s entrancing beauty – like a living painting. “In summer, the nickname for the region is the ‘Dolce Riviera’, he adds. “It’s all about the sweetness of life here.”
Sweetness goes a long way when it comes with spellbinding views, but ultra-high-net-worth buyers want convenience too. “Many people who live in Montreux work in Geneva, or they can be in Bern in an hour,” says Rigois. They also buy for proximity to several international schools (including British, American and Japanese institutions), world-famous business schools and hospitality academies.
All-season attractions
The changing of the seasons may be a feast for the eyes, but seasonality is less of an issue when it comes to rental income. Tourists flock to the Riviera in summer for events such as the Montreux Jazz Festival, but quietly tranquil winters have their allure too; Spring and Fall are the best times to soak up the golden hues and liquid nectar of Lavaux’s vineyards.
Real estate buyers come from all over the world, says Rigois, though are restricted to what property they can buy as non-Swiss nationals. The National – Montreux’s historic, landmark hotel – has seen many British buyers in its more recent incarnation as high-end residences. Resales in the new annexe, Les Terrasses, cost upwards of €13,500 per square meter, and apartments in the historic building from €16,500 per square meter.
Lasting allure
In Territet – which has the quirky claim of being home to Switzerland’s first tennis court, built in 1894 purely for the use of English tourists – one four-bedroom, 250-square-meter apartment remains in a modern development with vast lake and mountain views, available for non-Swiss residents to buy as a vacation home, for CHF 4.25m (US$4.78m).
“People love the sense of safety here, and investing in bricks and mortar on the Riviera is seen as a secure purchase, with prices typically rising by 3 to 4% a year,” Rigois comments. It’s a financial and lifestyle investment in the Dolce Riviera that’s made even sweeter with the knowledge that the allure doesn’t fade along with the last of the snow.
