class=”sc-29f61514-0 icZBHN”>
Especially in small retail areas under 500 square meters, vacancy rates have been very high, 6 to 8 percent for years. Small retail businesses such as florists, clothing stores or grocery stores are becoming increasingly difficult due to increased online commerce. At the same time, housing shortages are also experienced in many regions.
This is why real estate expert Michel Fleury (35) in Raiffeisen suggests converting office space into apartments. This holds significant potential. Especially for home owners.
barriers to transformation
“For many properties, especially outside of the best office locations, significantly higher rents can be achieved with residential use,” he says. In the city of Zurich, rental income can be increased by 50 percent in some regions.
However, there are often major obstacles to such change of use. On the one hand, this involves strict building and zoning regulations, on the other hand, such a change of use is often very expensive or impossible for architectural and structural reasons.
That is why such projects are currently quite rare.
Source : Blick
I am Dawid Malan, a news reporter for 24 Instant News. I specialize in celebrity and entertainment news, writing stories that capture the attention of readers from all walks of life. My work has been featured in some of the world’s leading publications and I am passionate about delivering quality content to my readers.
