High immigration, little new construction; study shows the consequences of this situation: tenants will soon have to adapt

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Ulrich Rotzingerhead of economy

If UBS economists are right, the next decade will be extremely difficult for rental households. The conclusion of a 10-year Swiss real estate survey was: “Falling housing costs, higher space consumption per capita and greater living comfort, which have been true for the last 70 years, are now a thing of the past.” one million people. It was made public on Wednesday.

According to the major bank’s forecasts, the population of permanent residents in Switzerland will exceed the 9 million mark in the first half of 2024. “Never before has the resident population grown this fast,” UBS authors write. The “magic” 10 million mark is expected to be reached by 2034. That is, within the next ten years at the latest. Factor: Strong migration combined with low construction activity.

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According to UBS, there will be a shortage of at least 150,000 apartments by 2034. Results: Residential real estate prices are rising and apartment rents are becoming more expensive faster than incomes are rising. Tenants will actually need to demand 25 to 30 percent higher rent overall. Here, the centers are more affected than the periphery.

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To put it bluntly, the price of a three-room apartment in Zurich could rise from 2,000 francs to 2,600 francs by then.

Due to the high rate of immigration and the aging of society, UBS expects an increasing trend towards smaller settlements.

If you are thinking of buying your own home now, UBS would like to point out: “Dreams of high value increases due to rising rents may soon become an illusion.” If the housing situation of many households worsens, politicians may impose additional regulations on the market.

Source :Blick

Tim

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.