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The queues to see apartments in Zurich are getting longer: only 144, or 0.06 percent, of apartments in Switzerland’s largest city are reportedly vacant. This does not include apartments where new tenants can be found immediately, but the rental housing market is becoming more concentrated. Felix Schrimper (27) is feeling it right now too. The business IT specialist wants to move to Zurich from the German border town of Konstanz, where he will start a new job in October. Currently looking for an apartment.
«My standards are not very high. It can also be a 1-room flat. However, its size must be over 20 square meters so that there is room for a bed and a desk in addition to the kitchen,” says Schrimper. The shared room is no longer an option for him. He’s been living in shared flats for long enough that he now wants a house all to himself.
Wants to commute temporarily in case of emergency
The circle can also be found in agglomeration. However, the workplace in West Zurich needs to be reachable within 20 minutes by public transport. Budget: Maximum 1,800 francs including additional costs. Looking at the real estate portals, for this rental in the city of Zurich there is only a small old building apartment with colored or beige tiles and a colored or beige bathroom. For this price you can even get an old 3-room apartment in a relatively central location in Bern.
“I respond to 20 ads every day,” Schrimper says. So far to no avail. He also placed his own search ad. Then some feedback came. Also without success.
Successful search is likely to be difficult until October. If things don’t work out on time, he will initially commute from Konstanz.
Low quotas increase rents
Many small rentals in Zurich are well beyond Schrimper’s budget: “Wherever the vacancy rate falls below 1 percent, the shortage of living space drives up rental rates,” says Marco Salvi, 54, of the Avenir Suisse think tank.
Some landlords’ rents exceed the permissible return, the tenants’ association charges. At the current reference interest rate of 1.5 percent, this maximum is 3.5 percent. According to the association, billions of dollars are defrauded from tenants every year. That’s why the association calls for rent control, under which landlords must periodically report their returns.
Currently only a small fraction of all tenants are taking action against excessive starting rents. Few people want to strain their relationship with the host from the very beginning.
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
