Today in Switzerland: A roundup of the latest news on Friday
Property prices drop slightly throughout Switzerland; Zurich to get more affordable housing; and other news in our roundup on Friday.
A slight drop in Swiss housing prices
Finally a bit of positive news on the property market: in January, rents as well as prices for single-family homes and apartments fell slightly in Switzerland, according to the Swiss Real Estate Offer Index compiled in collaboration with real estate consultancy CIFI and SMG Swiss Marketplace Group.
For owned accommodation, prices of houses decreased by 0.7 percent, and those of apartments by 0.6 percent ,because higher mortgage rates are slowing down the demand for properties, prompting sellers to lower their prices, the report notes.
As for rents, they dropped by of 1.1 percent on average.
And speaking of rents…
Zurich to finance the construction of non-profit housing
The majority of Zurich municipal council voted this week in favour of the housing fund intended to support the construction of affordable apartments in the city.
A total of 300 million francs is earmarked for this purpose.
Opponents of the project pointed out, however, that while the idea of affordable dwellings in Switzerland’s most expensive city looks good on paper, it is “a step in the wrong direction,” as it would offer accommodations only to a small percentage of those who need it.
According to city councilor Daniel Leupi, the proposed housing "will not work miracles. As long as economic growth and immigration increases, demand will continue to outstrip supply in Zurich."
READ MORE: Renting in Switzerland: How to find a flat in Zurich
Switzerland ranked among world’s most democratic nations
Switzerland’s tradition of direct democracy earned it a top place in the Democracy Index 2022, released this week by The Economist Intelligence Unit (EIU).
However, though the Swiss like to think of their system as the most democratic in the world, in fact the EIU placed the country in the seventh position, after the Scandinavian nations and New Zealand.
Switzerland did particularly well in categories such as Electoral Process (9.58 points out of 10), Political Culture (9.38), and Functioning of Government (9.29).
The lowest score it received (8.33) was for Political Participation, which reflects a relatively low turnout rate in referendums.
READ MORE: How Switzerland’s direct democracy system works
Weekend weather forecast — what lies ahead
After a cold spell, the forecast calls for a bit (and sometimes even much) warmer weather.
On Saturday and Sunday, nighttime temperatures on the plains are expected to stay above zero, while during the day, and across the country, temps will vary from 6C to (are you ready for this?)...18C in Ticino!
This will not mark the arrival of spring quite yet, but enjoy this warm weather while it lasts, as temperatures will drop again (though not drastically) from Monday onwards.
You can see the weather forecast for the weekend and beyond, for all regions of Switzerland, here.
If you have any questions about life in Switzerland, ideas for articles or news tips for The Local, please get in touch with us at [email protected]
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A slight drop in Swiss housing prices
Finally a bit of positive news on the property market: in January, rents as well as prices for single-family homes and apartments fell slightly in Switzerland, according to the Swiss Real Estate Offer Index compiled in collaboration with real estate consultancy CIFI and SMG Swiss Marketplace Group.
For owned accommodation, prices of houses decreased by 0.7 percent, and those of apartments by 0.6 percent ,because higher mortgage rates are slowing down the demand for properties, prompting sellers to lower their prices, the report notes.
As for rents, they dropped by of 1.1 percent on average.
And speaking of rents…
Zurich to finance the construction of non-profit housing
The majority of Zurich municipal council voted this week in favour of the housing fund intended to support the construction of affordable apartments in the city.
A total of 300 million francs is earmarked for this purpose.
Opponents of the project pointed out, however, that while the idea of affordable dwellings in Switzerland’s most expensive city looks good on paper, it is “a step in the wrong direction,” as it would offer accommodations only to a small percentage of those who need it.
According to city councilor Daniel Leupi, the proposed housing "will not work miracles. As long as economic growth and immigration increases, demand will continue to outstrip supply in Zurich."
READ MORE: Renting in Switzerland: How to find a flat in Zurich
Switzerland ranked among world’s most democratic nations
Switzerland’s tradition of direct democracy earned it a top place in the Democracy Index 2022, released this week by The Economist Intelligence Unit (EIU).
However, though the Swiss like to think of their system as the most democratic in the world, in fact the EIU placed the country in the seventh position, after the Scandinavian nations and New Zealand.
Switzerland did particularly well in categories such as Electoral Process (9.58 points out of 10), Political Culture (9.38), and Functioning of Government (9.29).
The lowest score it received (8.33) was for Political Participation, which reflects a relatively low turnout rate in referendums.
READ MORE: How Switzerland’s direct democracy system works
Weekend weather forecast — what lies ahead
After a cold spell, the forecast calls for a bit (and sometimes even much) warmer weather.
On Saturday and Sunday, nighttime temperatures on the plains are expected to stay above zero, while during the day, and across the country, temps will vary from 6C to (are you ready for this?)...18C in Ticino!
This will not mark the arrival of spring quite yet, but enjoy this warm weather while it lasts, as temperatures will drop again (though not drastically) from Monday onwards.
You can see the weather forecast for the weekend and beyond, for all regions of Switzerland, here.
If you have any questions about life in Switzerland, ideas for articles or news tips for The Local, please get in touch with us at [email protected]
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