Switzerland Today
Greetings from Zurich!
Whether it’s a house, castle or caravan – most people need a place to call home. We’ve heard a lot recently of the lack of property in Switzerland. But one think-tank now says there’s little to worry about.
More on that later, but first here’s the news of the day.
In the news: airport profits, demining Ukraine and war crimes.
- Switzerland’s busiest airport, Zurich, saw net profits more than double in the first half of this year as more passengers took to the air.
- The current month is set to become the fourth hottest August on record in Switzerland, according to Meteonews.
- Switzerland has promised to send a remote-controlled demining machine to Ukraine.
- Swiss prosecutors have indicted former Algerian Defence Minister Khaled Nezzar before the Federal Criminal Court for war crimes and crimes against humanity.
Space to live
Property prices in Switzerland rose significantly during the period of ultra-low interest rates while tenants are complaining about the cost of renting apartments, particularly in cities.
Earlier this month, real estate consulting firm Wüest Partner warned of a housing crunchExternal link as population growth picks up at a faster rate than predicted.
Wüest expects 148,000 extra residents to arrive in Switzerland this year compared to official forecasts of 70,000.
But the think-tank Avenir Suisse now says worries over housing are being overblown. There is no serious shortage, it says in a report, and rising costs have been matched by income (albeit with some regional disparities).
Avenir Suisse is known as a champion of free markets and minimum government intervention. It therefore comes as no surprise that the think-tank disagrees with left-leaning politicians.
Parties such as the Social Democrats have long campaigned for more affordable housing projects and curbs on millionaires buying up investment properties.
In its report on the Swiss housing market, Avenir Suisse argues that deregulation is the answer for driving down property costs.
In compliance with the JTI standards
More: SWI swissinfo.ch certified by the Journalism Trust Initiative
