Carouge

Carouge feels like a different country. Laid out by Italian architects for the King of Sardinia in the 18th century, it kept its low pastel houses, secret courtyards and dolce-vita ease even after joining Switzerland. Today its cobbled streets are filled with trattorias, chocolatiers, design studios and a market that draws the whole city, and its terraces stay lively well into the evening. For investors, Carouge offers something rare in Geneva: relatively attractive yields. Gross returns of around 3.3% sit comfortably above the prime lakeside zones, underpinned by relentless demand from young professionals and expats who want character without paying Eaux-Vives prices. The trade-off is the heritage housing stock, which constrains renovation and new supply, and Lex Koller, which keeps the buyer pool to Swiss residents and permit-holders. For those who qualify, it is one of the canton's most liveable and lettable addresses.

Carouge in Geneva, Canton of Geneva, Switzerland