Swiss tenants ‘ripped off’ to the tune of CHF10bn

Some 60% of Swiss people rent accomodation, one of the highest tenant rates in advanced economies. Keystone / Urs Jaudas

Unscrupulous landlords are swindling tenants out of CHF10.4 billion ($11 billion) a year in Switzerland, according to an advocacy group.

The Swiss Tenants’ Association is calling on lawmakers to cap “exploding” rents that is says are squeezing people on low incomes.

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The Tenants’ Association complained on Monday that landlords are profiteering by ignoring rules that limit rent rises.

In 2021, the average tenant was over-paying by CHF370 per month, the organisation claims.

Switzerland has one of the lowest home ownership rates among advanced economies. Only around 40% of people own their own properties while the rest rent.

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Tenants are protected by laws that restrict large rental increases, but increasing demand for apartments, especially in cities, continues to drive up rents.

The Tenants’ Association is calling on parliament to re-write the rules to better protect tenants, particularly in the current climate of inflation and rising energy prices.

The group also demanded more affordable housing and non-profit accommodation projects.