Glittering along the shoreline of Lake Zurich’s Gold Coast, Küsnacht is close enough to all that the Swiss capital has to offer, yet with the quiet seclusion and natural beauty of a country village.
Boundaries Küsnacht borders the northeast bank of Lake Zurich, with the village of Zollikon and the city of Zurich to the north, the village of Erlenbach sitting just to the south, and the municipality of Maur to the east.
Price range
The price of entry in this exclusive enclave is steep. "Standard houses range in price from CHF3.5 million to CHF5 million (US$3.4 million to US$4.9 million), while luxury homes go for between CHF8 million and CHF15 million (US$7.8 million to US$14.6 million)," said Michael Blaser, CEO of Wüst und Wüst AG, an affiliate of Christie’s International Real Estate.
However, some lakefront properties can be sold for as much as CHF50 million (US$49 million), he says.
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Housing stock
Architecture is not limited to one style here, but what properties do share is leafy manicured grounds and privacy. "Properties in Küsnacht are predominantly designed either in an exclusive country manor style, or in a contemporary Bauhaus style with clean lines," says Reinhard Vissa, managing partner of Engel & Völkers Goldküste Küsnacht.
Mr. Blaser expands on this saying: "All styles are prevalent from continental European design, from classic chalets to modern villas, and many newer homes are cubist with minimalistic architecture. Most homes in the village were built between the 1940s and 1980s."
What makes it unique
Küsnacht presents the best of urban and country living—it’s just a 10-minute train ride into the city, yet it’s surrounded by nature. The neighborhood’s location next to Lake Zurich and "the sunshine it receives all day long thanks to its south-facing hillside position," are two perks, says Mr. Vissa. Substantially sized properties, a high level of privacy and low taxes are other draws, he says.
Mr. Blaser agrees. "Küsnacht is one of the most attractive places to live in the whole of Switzerland due to its proximity to the city, low taxes, lake access and perfect infrastructure. For example, locals can get a direct train from the city and to the airport."
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Luxe amenities in the neighborhood
This area is primarily residential, but there are marinas, schools and restaurants that draw outsiders in. Lakeside School, which is located on Lake Zurich in Küsnacht, is an exclusive private bilingual day school, according to Mr. Blaser. The Inter Community School in Zumikon is close by, too.
In regards to restaurants, Mr. Blaser says, there’s a romantic eatery at Hotel Sonne and Rico’s, which overlooks the lake and has two Michelin stars to its name. In fact, Rico Zandonella, who runs the kitchen, was recently named Swiss Chef of the Year 2017.
For high-end shopping, though, locals often go to Zurich city center, which is only a five-minute car journey away,
Who lives there?
"Buyers include long-established families, international figures, and well-known names from the worlds of business, the arts and culture," says Mr. Vissa. "They lead an exclusive lifestyle here on the Gold Coast of Lake Zurich."
He points out that singer Tina Turner lived with lake access in Küsnacht.
"The famous and wealthy residents in the municipality value the safeguarding of their privacy," he says.
"It's mostly local buyers with 'old money' as there are restrictions on foreign property ownership," Mr. Blaser adds.
In fact, buyers of residential properties must be Swiss residents, no matter whether they’re buying as an individual or a company (if so, the majority of the company must be owned by a Swiss resident), explains Mr. Blaser. In certain touristy areas, like ski resorts for example, there can be some exemptions to the rule. Plus, in order to obtain Swiss residence, a person has to give up other residences and take tax domicile in Switzerland, he says.
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Notable residentsIn addition to Ms. Turner, opera singer Gwyneth Jones, billionaire Klaus Jacobs, Urs Schwarzenbach (owner of Dolder Grand Hotel and an international art collector and investor), members of the Faber-Castell family (of the pen and pencil fortune) and Swiss psychoanalyst Carl Jung have all at one time held addresses in Küsnacht as well.
Outlook
The market is as sun-kissed as the village itself. "Küsnacht is the top low-tax address on Lake Zurich," explains Mr. Viss. "Properties here are still reaching top prices thanks to the limited availability of exclusive homes. The high quality of life and the chic glamour of this municipality means that the level of demand will continue to exceed supply."
Mr. Blaser concurs. "The high-end property market is still very strong as these properties do not come on to the market very often. Thus, there is often a lot of interest whenever good quality homes are marketed," he says. "However, the big estates usually sell privately without market appearance. It's one of the most attractive and sought-after areas in Switzerland—if not Europe. The market couldn't be more stable than it is in Küsnacht."