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According to recent reports, Switzerland is heading towards a housing crisis. On one hand a high number of job vacancies has led to increased immigration and as construction slows down, living space is becoming increasingly scarce – which could make it more difficult in future to find affordable rental accommodation.

 

A real estate study by the Raiffeisen Bank published in July 2022, shows that space is running out in Switzerland and predicts that there will be a future housing crisis as the vacancy rate moves below 1% in 2024. In fact, the study confirms that there are now fewer properties to rent in Switzerland than there were 10 years ago.

The study by the Raiffeisen Bank Switzerland states: “Switzerland is inexorably heading for a housing shortage,” and further, that “Hard times lie ahead for tenants.” The reasons for this assessment start with the high prices for building land. This coupled with rigid regulations and objections to building – are exerting pressure on construction activity.

From the constructor’s viewpoint, higher interest rates and inflation in construction further reduce incentives. And with population trends demanding more, not less living space – a requirement for more apartments is clearly there.

 

 

In a recent post, Accurity offered advice on how to apply for a rental apartment in Switzerland. It seems that finding an apartment next year, may be an even tougher challenge if the Raiffeisen Bank report proves to be right.

Focusing the search for accommodation

With the number of listings down by an average 40% in the last 6 months, and around 5.6 people looking for every property available, rents are set to rise amid a potential housing shortage. According to real estate experts  Wüest Partner, the number of listings has also declined by an average of 40 percent in the last six months – due to expats moving to Switzerland to work as well as the arrival of Ukrainian refugees. So what are the best tips to find and secure an apartment or house to rent in Switzerland?

  • The first thing to note in Switzerland is that the public transport network is excellent and this enables workers to live some distance away from their place of work. Obtaining a half price travel pass or yearly travel pass means the cost of commuting is kept reasonable.
  • Today, many job roles in Switzerland offer remote working as a standard contractual element. If this is a possibility, then it opens up the field of search for a place to stay. Traveling a tolerable distance once or twice a week is much easier compared to having to do that daily.
  • The next tip would be to consider what type of environment to live in. A large town or city, offers more facilities, but is often more expensive than a smaller town or village even a few minutes commute (or miles) away.
  • A further heads-up might be to consider sharing accommodation. If the contractor is single and would embrace being able to meet new people, an apartment share might be a good option and cheaper!

Where to look for accommodation

There are some very good websites related to accommodation search. We have listed some of our favourites below

WebsiteDescription
https://www.homegate.ch/enSwitzerland-wide and one of the best-known search sites.
https://www.immoscout24.ch/enAnother Switzerland wide website, also very well known.
https://en.comparis.ch/immobilienComprehensive website with tips & offers Switzerland-wide
https://www.newhome.ch/en/homeA relatively new site, again with a Switzerland wide offer.
https://realadvisor.ch/en/property-for-rentWith a wide range of offers throughout Switzerland.
https://www.nestpick.comAn international aggregator website for other relators.
https://housing.justlanded.com/en/Switzerland/Flatshare

 

For Flat sharing in Switzerland

 

With the construction of apartments slowing down in Switzerland and an ever-dwindling number of apartments available to rent, the search for living accommodation  is set to get tougher. This situation is being exaggerated by the number of open job positions and ex-pats moving to Switzerland to work. Understanding the environment and looking at geographic locations which at first may not seem realistic or feasible, may prove to be one alternative to finding suitable accommodation.

 

Accurity GmbH is a SECO licensed provider of employment services. Established over 20 years ago, we work directly with recruitment agencies, client companies and contractors – in IT, as well as other sectors such as Banking + Finance, Pharma and Biotech.   If you have questions regarding Contracting in Switzerland, please feel free to contact our team of experts. We are here to make Switzerland easy for you!