As is well known, the Russian market of real estate is under the great changes today. Imperfections of Russian Legislation, many defects, absence of practical work create many difficulties. But nobody is surprised by this context. Therefore it is easily to explain the popularity of real estate (both elite as commercial) in the Europe among Russians and citizens of CIS. In connection with the raised demand our company has decided to realize the comparative analysis of the legislation of the European countries, concerning the purchase of the real estate by non-residents. Today the real estate is most demanded in such countries as France, Italy, Spain and Switzerland. France is one of most industrially developed states of the world. In accordance with the gross domestic product it takes the fifth place in the world after the USA, Japan, Germany and the Great Britain.
France is the first West-European manufacturer of agricultural production and the second exporter in the world after the USA. It takes the advanced positions in the world in many fields. France plays significant part in integration processes of world economic and it keeps leading positions in world investment activity as the exporter of direct investments.
First of all, we are to define the term “real estate”. What does it mean in each European country?
For example, according to the Civil Code of France, the property can be one movable and one immovable. One can read in the Civil Code of France that any property is to be considered as immovable in accordance with its character or applicability. Such uncertain interpretation of real estate demands more detailed specification which the Civil Code also contains in. For example, the ground and buildings are immovable by the nature; the mills fixed on columns also are considered as immovable. The structures, being by part of buildings also are regarded as the real estate. Still the reaped crop is the real estate too as it is "in the ground". In other words the important feature of the French definition of the real estate is coordination of object and the ground. So according to this point bowels and minerals are also can be considered as immovable property. Once again we would like to emphasize that fact that a crop will be regarded as a kind of real estate.
The Legislation knowingly concentrates attention on this fact because the farms, gardens, vineyards are one of the widespread kinds of the commercial real estate in France. The same principle of "attachment" to the ground is kept in the Civil Code of Spain. There all buildings, structures, roads and constructions so as trees, plants, fruits not yet cut down are regarded as immovables. And also all objects attached to immovables in such manner that cannot be separated from it without damage to integrity of object. Machines, vessels, tools and the adaptations intended by the proprietor to processing of the ground or maintenance of a construction are considered by the legislator as objects of the real estate.
The real estate in Spain can be bought by persons who would like to use it. Also one can purchase the real estate through the representative or through the commissioner.
According to the Spanish legislation, registration on the property right to real estate is necessarily made. This registration allows the inspecting of condition of object of the real estate on presence of different kinds of charges and the rights of the third parties. The name of object, the form of the description, a way of entering of registration, a cost of object, information on the location and other requirements to object are formulated also in the Hypothecary Law.
The market of the real estate of Spain continues to develop promptly. Within last three years it is in stage of constant construction. Such quantity of under construction habitation in Spain can be equated to the quantity of constructed habitation per year in Germany and France taken together. However, together with growth of quantity of a under construction habitation its cost grows also. New buildings in Spain are in great demand. It can be explained by increase of incomes in some sections of the population and by demand for elite habitation among non-residents. Great volume of under construction habitation in many respects is promoted by the simple scheme of purchase by foreigners of secondary habitation in Spain and also by foreign investments. The average annual growth of investment is about 30 %.
The Civil Code of Italy gives exhaustive list of the objects of the real estate: the ground, water sources, streams and trees, structures and other constructions connected to the ground constantly or for certain time, and also everything, that in the natural or artificial image appears in the ground. In addition to private property in Italy there is a state property, municipal property, property of the public and territorial organizations, property of the church organizations and cultural buildings. The Civil Code also contains the general building norms, dangerous zones, norms for landing of plants and trees. The separate chapter deals with such technical norms as illumination and view from windows.
Light and air should get free, the window should not face any avenue or walls of other buildings, the distances between balconies, doors and windows necessarily should be observed, and buildings cannot be constructed closely to each other. In other words the government of the country is to strictly watch for presentable shape of constructions.
As to ways of purchase of the property it is possible to note as following: a find, the construction by own strength from own materials, the specification (construction of object from own materials by means of rented forces), the repayment of a share of other proprietor on the same thing, inheritance, etc.

In Switzerland the real estate is understood widely enough and vaguely enough. This concept contains the earth, the bowels, buildings and constructions.
To individualize objects of the real estate the Register of the real estate (that contains the constant rights of residents and non-residents) helps. The Federal Office of Justice of Switzerland has developed supervising principles of purchase of real estate to foreigners. They give the brief review of laws and contain additional cantonal and municipal conditions which limit the purchase of real estate in Switzerland by not-citizens.
For purchase of real estate the sanction which should be received from corresponding cantonal authorities is required. The canton, in which the real estate is located, comes to determination, whether such transaction takes place and whether it is necessary to give out the sanction. The sanction can be given in unusual cases which are stipulated in the legislation.
When delivering the sanction they take into account whether there is a property in foreign hands or whether there are lawful bases to get it, all ways of purchase of property - sale and purchase, an exchange, donation, the inheritance, absorption of actives or business, merge of the companies, transformation, division and etc. are estimated from the legal point of view. It is necessary to note, that ways of purchase are not so essential. They cannot have an influence upon fulfillment of the transaction and reception of the sanction to it. However, the legality of possession of property as we see, are checked by the state organizations.
Physical persons can purchase property in Switzerland. According to the Legislation, the physical persons are foreigners who are living abroad, foreigners who are living in Switzerland, citizens of country-member of EU and also legal persons who have office abroad even if they are Swiss.
It is possible to make transactions with the real estate by letter of attorney.
We would like to define any types of real estate. First of all, it is habitation. Transaction with habitation is regarded as purchase of family buildings or apartment houses, apartments, and also the grounds under building, also secondary habitation and habitation in a residential suburb.
Transactions dealing with the ground area less than 3000 m2 do not pass under the Ground Area Register, they stipulate in the sanction to the transaction.
For purchase of habitation for constant residing both to one person, as to family the sanction to the transaction is not obligatory. The buyer who is in possession of habitation for constant residing, in case of change of a residence is not obliged to sell it, he can leased it, he can use it as a summer residence, in other words he can dispose of it as he would like. He can also buy a new house for residence, but in this case he ought to receive the permit for transaction.
Another type of real estate is the property which is used with economic goals. For example, industrial premises, warehouse, premises for consumer services, offices, shopping centers, premises for retail trade, hotel, restaurants etc. In other words, now we are speaking about the commercial real estate. It can be got without reception of the sanction if it has economic goals. Such objects can be got exclusively with a view of investment of money. The buyer can also get other rights to the commercial real estate: the rent, the mortgage, the right of return purchase, financing of real estate. However, re-equipment, installation, reception of a rent does not consider as an economic goal.
According to Swiss Legislation the basic ways of purchase of real estate are following.
The first is a purchase of the property as individual, collective or joint ownership. The second one is purchase of any part of the share capital, a share of the legal person, which real purpose is purchase of the inhabited property or reception of the sanction to construction. The third way is purchase of a share in the investment fund dealing with sphere of the real estate; the justification and realization of the right of the purchase, first refusal or return purchase; purchase of other rights which give the buyer of the right of the owner of the property.
The real estate in a resort zone is especially popular. This zone is defined as resort by cantonal authorities. There the purchase of habitation both for own residing and for hotel is possible. For purchase of hotel the foreigner need the sanction. It is necessary to take into account that many cantons focused on tourism can have their own restrictions, for example for the certain zone; they can limit annual number of sanctions.
The buyer should be able to use the real estate any time according to the estimated purpose. All hotels should be accessible to use, especially during the height of the season.
This requirement is full coverage. Co-owners of hotels can be only physical persons. It is evidence of the personified responsibility for property in any resort zone. As a rule, the useful closed area of hotel should not exceed 200 m2, and opened area should not exceed 1000m2.
So we can say that the European legislation does not create obstacles for purchase of the real estate in the property by non-residents. Moreover it does not belittle them in the rights in comparison with the citizens. They bear equal burden of the responsibility with other proprietors. So the purchase of the property is more pleasant thanks to the benevolent attitude of the population, the resort climate, favorable laws, and taxes.