• Mon. May 27th, 2024

Soaring Property Prices Leave Many Swiss Households Struggling with Affordable Home Ownership

BySamantha Jones

May 16, 2024
Less than a third of people own their home, with even fewer able to purchase one

Increased prices for apartments and houses are making home ownership increasingly unaffordable for households in Switzerland, with only 15 percent of Swiss households able to afford a “median home” priced at 880,000 francs. This is significantly higher than the median household income of 115,000 francs.

The Swiss population is primarily made up of renters, with only 36 percent of permanently occupied apartments owned by their occupants. Despite this, buying a home is particularly challenging in large urban areas, where the cost can exceed twice the Swiss median income. To purchase such a property, a household would need an annual gross income of 150,000 francs.

Despite the challenges, many Swiss residents express a desire to own a home. UBS predicts that home prices in Switzerland will continue to rise in 2023, with an average increase of 3.5 percent for condominiums and 2.5 percent for single-family homes. Despite below-average economic growth, factors such as foreign buyers with purchasing power and a recovering economy could lead to even higher price increases in the future starting from 2025.

By Samantha Jones

As a content writer at newsnnk.com, I weave words into captivating stories that inform and engage our readers. With a passion for storytelling and an eye for detail, I strive to deliver high-quality and engaging content that resonates with our audience. From breaking news to thought-provoking features, I am dedicated to providing informative and compelling articles that keep our readers informed and entertained. Join me on this journey as we explore the world through the power of words.

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