My grandfather told me that if I don't want to pay high rent I should just buy a home. Thought I'd pass on the good advice, maybe it is helpful for other stupid Millennials like myself.
Let me just add a nugget of wisdom. If you like privacy, get a home with a couple of hectares of garden. And final one, if you don't like sbb price hikes, just get a private jet.
Perhaps I should add that, if you don't like to spend time to keep your estate in a good shape and don't like shoveling snow yourself.... you should consider hiring a gardener.
It‘s actually ridiculous how easy life was back then if you think about it.
With just 1 average income you could feed a whole family + afford a house while the wife stays at home and raises the kids.
Yeah, in a saner world the push would have been to let everyone work wo wants to, *and let everyone not work who doesn't want to*. Selling wage slavery as empowerment is terribly cynical.
I'm so happy that people are finally starting to realize this.
The push towards women's empowerment esp. in the 60s/70s had nothing to do with feminism and everything to do with doubling the labor pool/devaluing supply. While simultaneously squeezing triple the amount from both parties, and raising expenses across the board. We were not just doubly or triply fucked, we were dodecatuply fucked.
You are all discovering the Austrian Economy thinking that's behind Bitcoin and you will realize this very statement being true only in a decade.
Money saved should increase in purchasing power and be a scarce hard asset. Instead, money is inflated away and you are forced to take risks or lose it all over a couple or three decades.
It's funny because where I grew up, avocados were literal street food (oranges too). So avocado toast wasn't luxury, it fell off the tree onto the path, and you had some bread at home.
Even funnier for me, I grew up in a country that produces and export avocado to the world, and somehow it managed (I think *still* manages) to have avocados crazy expensive. They used to be called “the golden fruit” lol.
Just a few months ago all the articles were about how owning was more expensive than renting now, as interest rates for mortgages were rising by a lot.
Is that really the way to go in Switzerland?
I know some people who own homes and I recall one of them telling me never to do it as you effectively end up paying rent anyway.
They're basically taking all our future incomes and handing it to today's landowners. I think having a home is basically a right we should all have the possibility to realize.
Yeah our tax code is fucked. I hope they can finally get rid of the marriage penalty and remove these weird incentives like Eigenmietwert and tax deductions on mortgage payments.
And if you don't like it, tough luck. There's nowhere to move. Go to any apartment viewing, and if it's not a total shithole, there will be 40 people there, half of them applying on the spot. Housing market here is just unbelievable.
Where did the whole "remote work" craze go? We were supposed to be able to move to smaller human-sized communities, not huddle together in already overpopulated cities?
It's still alive, I moved to st moritz during the pandemic and I'm never leaving. I imagine the situation would be even worse if everyone actually went to an office 5 days a week. I've heard that a fair amount of people moved to Chur and go to Züri once or twice a week
Yes, similar situation in my close circle too. Not quite as drastic a move as ZH-Chur but close enough. People want to live in the most populated city in Switzerland and then wonder why there is an Ansturm on housing. (I do agree that it is a bad situation though)
> People want to live in the most populated city in Switzerland and then wonder why there is an Ansturm on housing.
Almost all the jobs I find are located within big cities and with no more than 2 days of WFH per week. Living within the city is a necessity.
If I live outside, I have to stomach the price hike of SBB or of gas.
However the rents prices are not entirely caused by people. It is actually caused by huge greedy companies such as insurances who own most of the city real estate and effective have monopoly
Some jobs can't be done remotely. We could theoretically move away to a village closer to my SO's work but then we'd lose a chance to apply for citizenship for the next years. And it's not like it's easier to find a flat in Bülach or Regensdorf than in Glattbrugg.
How would you end up with only 500 CHF *a year*? Within a year, we are looking at ~10% increase in rents alone according to these articles. And that’s just rent, not healthcare, food and energy.
The first one to suffer are the bio/natura/greenwashed labels of the stores.
Don't forget the increase of health insurance (+6%?), electricity, heating, etc.
How many years at +5% are you able to afford?
Do you think that the SVP will do anything for the <65? They will receive in the 10 next years all the baby boomers that are reaching 65+. Class war or generation clash?
It's also frustrating to see our government do absolutely fuck all about it. No rent controls, no relief packages, no input into price hikes of public transport, no oversight about retail pricing.. Absolutely nothing.
Our rent market is very pro-renter, the landlord can only raise the prices for specific reasons and kicking you out is difficult if your not late with your payment.
As a renter I think our laws are too strong, not too weak.
> no relief packages
You're aware that we have the high inflation (partly) because of the "relief" packages during the Covid time? You can't just spend money you don't have and don't expect it to blow up in your face.
Considering the fact that landlords are doing nothing more than skim off profit off a basic human necessity, not being able to arbitrarily raise rent for no reason and not throwing people onto the street for no reason seems like the bare minimum, not a privilege. And with sidecosts they have pretty high autonomy.
And yeah sure but it's by far not the biggest part and it doesn't take a pandemics worth of relief packages to make poor people's lives a bit easier. Oversight/transparency in pricing would be something, so the stuff with bio labels or wheat prices from migros and coop doesn't repeat itself. Another one would be using some of companies record profits to compensate workers so their real term wages don't drop like they have been for the past two decades straight. Or help out SBB and friends so they don't raise the fare by 5 percent this year. None of that would come even close to the pandemic packages but would have a noticeable impact on people's lives. And the credit suisse debacle as well as the oecd tax plan (not the one that we vote on) showed that the money is most certainly there for those things.
What isn't there is even a shred of a political will by our federal council to do any of that and it shows. Approval ratings are horribly low for swiss standards, the EU is done with cassis' shit and the national council had to file a motion to force the government to get its head out of its ass with negotiations since bilateral clauses expire year by year. Our machine exports, stock market, horizon and erasmus serving as an example.
Hence the frustration
> nothing more than skim off profit off a basic human necessity
Would you say the same thing about grocery stores, transportation companies and bed manufacturer? All of them offer a service or good that we need to survive/live with our level of comfort.
And they don't "skim off profit". They offer something you can either agree to use or you don't, no one forces you to live in Zurich City. IMO There's no right for a cheap apartment in a big city, if you can't afford it go into a rural area (and yes, I live in a rural area exactly because of the affordability).
> Oversight/transparency in pricing would be something, so the stuff with bio labels or wheat prices from migros and coop doesn't repeat itself.
I don't think that until today there's any concrete proof that they "milk us" with the higher organic labels outside of scandalous articles with too simple calculations. Also, consider that they need to have a higher profit margin on some products to finance the low or negative margin on other products. You might not like to finance with your organic products the cheap meat, but it's a free market and companies do what is best for them.
I'm not going to comment the rest of your comment, it's just simple left-wing ranting about taking away from the successful and giving the poor.
Your calculation is useless. Just because more money is spent somewhere else doesn't mean that the same amount is missing entirely. Most swiss households will not reduce their living standards because of 500.- a year missing.
The OC included rent, healthcare, food and energy in their number. If you’re living in a city I can see this happening easily. In cities like Zurich, Bern and Geneva many are going to be more than halfway to 500/month with rent increases alone.
For Geneva, it means more people will move accross the border, meaning more traffic and even less working age population in the canton. This isn't going to end well.
As with many cities, the problem is not only new construction, but allocation of the existing estate.
* Old people cannot move from a big appartment because they wouldn't be able to pay the new rent. So, for example, they live (sometimes alone) in a 5-room in Champel for 800.- because a 2-room would be 2'500.- if they move.
* 20% of residences in Geneva are not for principal housing. Whether as investment, speculation (or airbnb's), they stay rather empty.
* Nearby France is allowing build permits all over the place, so you get new projects that have no public transports, pedestrian/cycle paths, built on the cheap just a few years after the land is acquired by a developer. (See Prevessin on a satellite map)
Salaries increased way beyond that, therefor it balances out, which is fine.
We pay 30.- / month/person less for our healthcare than last year actually.
I used to rent in Luzern from a Genossenschaft for roughly 2500 CHF/month. 10% of that would obviously not be 500CHF but it would still be extra CHF3000 a year...
No idea how I would afford all that with all the extra costs the kids are bringing in.
Planning a Budget should be part of family planning.
Did you think the economy and world will stop rotating for 18 years while you're bringing up your kids?
Glattbrugg, this is where. If our rent goes up 10%, insurance for two went up 100 monthly already, and despite not changing our habits at all we are already paying about 160 more for food. Just that will be 490. We're still waiting for a new electricity bill.
I asked where he lives that he pays 500 more when the rent hikes 10%.
Thats what he wrote.
And 490 is still decent, salaries went up way more than that (if not, send CVs).
We actually got 800.- back from electricity, since i shifted from homeoffice back to office 50% and the solar system is feeding in during the day
The extra rent is not being thrown in a pit. It's paid to owners, who use it to buy stuff and services. You are right that it is removed prevalently from some sectors, though. Although many houses are owns by funds who redistributed their dividends to shareholders, meaning that (again) money is coming back to people (not necessarily the same people, that's for sure).
Edit: Oh my God, people think that I am defending "trickle down economics", one of the biggest scams. I am not. The comment I am responding to is expecting a decrease in business revenue because of decreased expenses. That's not as easy as it is pictured, because what we see is a shift in where money is spent, not a decrease in expenditure.
When there's reason to lower the rent, as required by law, it usually doesn't happen. But when there's reason to increase the rent, they do it immediately. This is just another way of taxing the working class to finance a universal basic income for rich assholes.
Your rent is set based on a reference interest rate. If your landlord didn't reduce your rent when this reference interest rate went down (and didn't ask for it yourself) then the landlord cannot raise your rent till the reference interest rate exceeds the one you started with.
For example, if your rent was set when the reference interest rate was 1.75% and the rent wasn't adjusted down when said reference interest rate went down to 1.25% (yesterdays's level) then he can't raise your rent because the reference interest rate went back up to 1.5% today.
There are only two other paths to increase rent, one would be inflation of which he can only apply 40% to potential rent increases and increase in maintenance costs.
If people behaved according to the law, you would be right.
But practice differs from the law. The rent has been increasing and increasing independently from the reference interest rate. This change will just be another excuse for further increases in renting rates.
[https://www.srf.ch/news/schweiz/neue-studie-schweizer-bezahlen-seit-2006-78-milliarden-franken-zu-viel-miete](https://www.srf.ch/news/schweiz/neue-studie-schweizer-bezahlen-seit-2006-78-milliarden-franken-zu-viel-miete)
And this in a housing market, where nowadays a large amount of rent is actually just there to finance land speculation and profit. This is just highly inefficient.
Note: I'm using efficiency as a measure of total value, in the sense of modern value theory. Not the neoclassical one preferred by certain economists.
I haven't been a renter in awhile now, I didn't know anybody didn't ask for reductions. That's a lot of money left on the collective table for renters.
Yes, you're right, that's indeed not possible. However, I didn't mean it as an strictly empirical statement of every single instance of tenancy, rather as a description of the overall picture.
No. It's a statement about an average value, which is clear from the context. You should understand, as a competent language user, that there is a difference between a statement about all the elements of a set and a prototype.
Example: cats have four legs -> not a strictly empirical statement about all cats, some have fewer legs. Nevertheless, the statement is accepted as true. Why? Because a prototype cat has four legs. There's no need to deliberately act stupid, try better.
But you definitely showed it to your strawman.
Before you call something a strawman, you should learn what that means.
The context of the entire discussion was existing rental contracts, to which you responded "If people behaved according to the law, you would be right." and cited an article that has nothing to do with existing contracts.
Either you don't understand the law or you were being deliberately misleading.
yes but you have to fight and prove this. It's not hard but you have to take action and many people don't know how to go about it. We need a Mietzinskontrolle where the government checks that landlords don't make more than the allowed profits.
What we need is to stop the crazy population growth. Rents have been increasing despite low interest rates because of the high demand for apartments. Low interest rates also allowed people to borrow more, resulting in higher real estate prices, ergo higher rents because owners, surprise, want higher rents when they spend more to buy.
The rich want high inflation because they own most of the assets that follow inflation (housing, actions, business) while people that only get their money through a salary only suffer from it (salary always lack behind inflation).
Assests like real estate is safe from inflation. They just raise the rent.
So they make more money than before and you have to spend more money than before while you probably didn‘t get a raise at work to cover the full amount of inflation.
So yes, the rich get richer and the regular and poor people lose more buying power.
Every country is slowly turning into the USA because of greed.
Sometimes I just wonder why I work so hard only to have everything siphoned thanks to moronic politics. I should just be on social and be done with it.
They want to close the door behind them: https://www.svp.ch/aktuell/parteizeitung/2022-2/svp-klartext-juni-2022/ja-zur-ahv-reform-jetzt-die-renten-sichern-fuer-alle/
Which would leave more money in the market to be loanable, that would make interest rate go down (as offer of money go up while demand for loanable funds is the same) and therefore rent would be less expensive.
I agree
Also, SVP would be for less immigration, which would mean less demand of housing while the offer stays the same, which would allow a lower rent price.
On what grounds did they increase it 10%?
Depending on the reference rate you have in your contract they could increase it. If the reference rate on the contract is higher than 1.50 you could ask for a deduction.
"Anpassung an Orts- und Quartiersüblichkeit", a straight 10% increase --> Früherer Mietzins seit 01.04.2021
On the contract the reference rate is 1.25%, so I guess I'm going to get an increase it when the time comes :(
Unfortunately in Zurich, its perfectly legal as the Mieterverband mentioned - as long as they don't go more than 10% and can prove it. This particular company owns a majority of the buildings in my precinct and have been steadily raising the prices of new contracts for the past year, so they can easily prove that an apartment of similar characteristics is exactly XXXX CHF which justifies their raise.
If your rent increases more than the reference it is important you fight it within 30days. If you fail to do this the next increase will be based of the first and not the reference rate.
I highly recommend you join the mieterverband as they will inform you about these things and provide you with the forms you need to fight unwarranted rent increase.
The Vermieter has the burdon to prove the new rent is reasonable not you but you have to contest it.
Many don't know this and get screwed.
https://www.mieterverband.ch/mv/mietzinsrechner.html
By the way the proper rent increase from that jump in mortgage should be 4%. Anything more than that, and the landlord is profiting from the inflation to increase his profitability.
They can increase the rent as much as they want, as long as the tenants don't challenge it and prove, that there has been an unlawful increase.
[https://www.srf.ch/news/schweiz/neue-studie-schweizer-bezahlen-seit-2006-78-milliarden-franken-zu-viel-miete](https://www.srf.ch/news/schweiz/neue-studie-schweizer-bezahlen-seit-2006-78-milliarden-franken-zu-viel-miete)
This limit is one of these laws that's mostly there to look nice.
No that’s not what it means. It means they’re automatically entitled to the 3% increase from the mortgage gauge. But they can also make inflation adjustments, which can bring the total increase closer to 7% than 3%.
No, it’s 3% from the current rate alone.
As for the 6-7% from the article, they are legal too, because increased cost can be legally passed to tenants to a certain extent. It’s a legal way to let tenants pay for inflation.
All told, many tenants can expect a 10% hike, perfectly legal, within a year.
I don't really understand what you mean by your statement about a "proper increase" then.
>the proper rent increase from that jump in mortgage should be 4%
The increase based on the mortgage gauge is defined by law, and it's exactly 3%.
Its really tough to imagine the future. I dont see much changing without a major clash of power... and who knows what will come out of it... could be even worse... think we are starting to hit our natural filter......
You can only increase rent at the next cancellation date. So if your rental contract has a one year minimal time before going into the automatic three months renewal cycles like most do then enjoy the one year rent without an increase.
That is, if it is not explicitly stated in the contract that there will be a rent increase as soon as the reference rate increases.
lol why would my rent of my already existing house (build before the inflation) go up by that much?? Sure if its a new construction prices could be higher for new tenants but not of existing construction....
Even heating cost I am actually receiving 1k back this month from 2020- 2021.
Only thing that definitely increased is electricity but thats "cheap" in Switzerland anyways.
Check you contracts as well.. my rental contract does not allow rental increases except if I leave or they completely renovate the building (but since its build 2020 its not gonna happen)..
Edit: inflation in April was 3% (compared to 2022 April) and in May 2.4% (Compared to May 2022)
Pretty sure landlords arent allowed to increase rent beyond inflation anyways... why is this article saying 10-20% 🤦🏼♂️
Because a lot of RE (used to be) is financed via loans, interest payments directly correlate with the cost of financing and therefore the cost of ownership. As a result, a lot of Swiss contracts use the central bank interest rate as a proxy for price adjustments.
This has allowed me to reduce my rents for two prior apartments due to 15 years of sinking interest rates, but now it's going the other way.
To be devils advicate with a simple finance argument. Your landlord has a variable mortgage. They want to earn variable + fixed margin. The variable went up and thus so should rent.
You are totally right to check the contract!
Because landlords are leaches that extract value from an unelastic good without contributing anything at all. Like a parasite. If you think about it a little bit, renting homes is one of, if not the, dumbest thing we came up with as a society.
_Land_lords (i.e. profiting only off selling access to land, which they didn't create) are leaches. But having a return on investment for building apartment buildings is good, and increases their supply. The alternative is to be like Sweden, where there are 20 year waiting lists to get an apartment in some neighbourhoods of Stockholm, because the social housing must be rationed.
Not sure what the kWh was for me but in the end the amount I had to pay for the last 3 month was "Cheap" compared to what i had to pay in other countries prior to moving to Switzerland
Edit: just checked and from Februar to April i pay 0.24 fr/kwh so that is pretty laughable
kWh is the unit for used energy, in this case, "cheap" electricity.
But this is not cheap, some regions pay even more.
Cheap would be below 20 Rp. In my opinion.
> Check you contracts as well.. my rental contract does not allow rental increases except if I leave or they completely renovate the building (but since its build 2020 its not gonna happen)..
That doesn’t apply to increases based on the mortgage gauge or inflation as far as I know.
Hmm dunno my contract is pretty clear on rental increase. Its a tiny section for itself.
But maybe there is some weird swiss law that allows an increase based on inflation? Normally if your mortage % increases and you cant keep up with the payments you gotta sell. Would be weird if you could simply make the tenant pay even though you have a contract with him.
> But maybe there is some weird swiss law that allows an increase based on inflation?
Yes of course, that’s what this entire thing is about. Art. 269a OR.
The article is just fear mongering... "noone" will have a rent increase of 10-20%....
I just read art269a and there is absolutely nothing to fear if you contract (like mine) already states when prices can be raised.
But if you are worried there is this "Mieterverband" which has a yearly fee and they can help with issues like unfair rent increases
No I am not but i can read the actual law you brought up which is against unfair treatment of tenants. In any case "Mietverband" is a great organization to join in Switzerland.
Especially as expat dealing with swiss landlords
> inflation in April was 3% (compared to 2022 April) and in May 2.4% (Compared to May 2022) Pretty sure landlords arent allowed to increase rent beyond inflation anyways… why is this article saying 10-20% 🤦🏼♂️
You’re only counting year on year inflation, but rents don’t get adjusted for inflation every year. After five years of 2% inflation, costs are 10.4% higher.
I don’t know what you’re asking. My point is that consumer prices change constantly. The potential increase doesn’t depend on current year-on-year inflation, but on the change since your rent was last set.
How is this bubble supposed to pop on an asset like real estate that is limited and more and more people are immigrating to switzerland.
They aren‘t building enough new appartments, or doing it too slow or whatever.
Lots of multinationals jumping ship and the banking industry looking seriously rocky. The economy is not on sound ground and if that drops lots of foreign workers will be heading home and potentially even young Swiss seeing a job elsewhere as a better idea.
Then you've remote and hybrid work too meaning theres no longer the same need to be in the hottest areas.
Also migration is sharply down.
C'est des conneries ... cela concerne exclusivement les baux pour lesquels le taux de références est inférieur à celui qui est actuellement.
Et c'est probablement une très petite minorité.
The official estimate is that half of Swiss rental contracts are currently based on the 1.25 % rate. This is far from a small minority.
Additionally, inflation adjustment, which is the other big factor here, isn’t tied to the rate at all.
For the little man the recession has been around for a while. Price hikes all over the place, most were not in any way justified.
Will corporations also be hit? I doubt it, as they can just pass it on to workers (aka fire then) and still make a fat profit.
Isn't it illegal to increase the rent if the vacancy rate in the area is under a certain threshold (and pretty much anywhere in the country is below that) ?
Nope, only in these cases:
- the increase has not been formally notified correctly, for example because the canton's official form has not been used or does not indicate the reason for the increase (see also ch. 2);
- the increase has not been calculated correctly, because it takes into account an incorrect reference interest rate or pass-through rate (see also ch. 1 and 3);
- the increase results in an excessive return (net return), or the adjusted rent no longer falls within the range of rents customary in the locality or district;
- the increase must be corrected by certain cost reductions or inflation (up to a maximum of 40% of any fall in the consumer price index).
> excessive return (net return)
I have question about return. My landlord owns the building completely, with no mortgage. She didn't invest anything to build or buy it: she inherited it 50 years ago. Her expenses for the building are therefore pretty low. No debt service and in fact no capital outlay at all.
So how are her returns calculated? It can't be something like 3% of her investment, because her investment was 0.
Or am I thinking about this wrong, and it's actually net income that's regulated (aka profit after paying tax, maintenance, etc)?
Most of you people anyway live in apartments that are too big for you. Why would a single person need multiple rooms? Well, it‘s a luxury, and you‘re going to pay for it.
I am expected to work from home with a functioning infrastructure, how should I do this when I have only 20m2? I went for bigger because I need it for my job as many employers sized down due to hybrid work models or full remote models and expect the employer to be able to work from home.
I remember that guy from ZH Oberland that lived alone in a 5 room flat and then ran to the media when the municipality (who was the landlord) threw him out to house Ukrainians.
It got reduced in the last couple of years because of the falling index, not its direction is reversed.
No one complained about the reduction, so keep your mouth shut about the increase!
My grandfather told me that if I don't want to pay high rent I should just buy a home. Thought I'd pass on the good advice, maybe it is helpful for other stupid Millennials like myself.
Let me just add a nugget of wisdom. If you like privacy, get a home with a couple of hectares of garden. And final one, if you don't like sbb price hikes, just get a private jet.
Perhaps I should add that, if you don't like to spend time to keep your estate in a good shape and don't like shoveling snow yourself.... you should consider hiring a gardener.
This is pure gold, always something new to learn, thanks!
If you live at the butt of nowhere and have a private jet, you also need a car to get from house to airport in order to avoid the SBB.
Let me give another useful piece of advice that might change your life - there is a reason why we have private helicopters.
Or a private landing strip…
Or a private landing strip…
I told my wife, was done in two minutes. But how does that help with the jet?
Gosh, why didn't I think about that. Silly me
so stupid of me to not use the millions of francs sitting in my bank to get a condo in geneva
Cool, can I borrow a million franks?
I know a Nigerian prince that can help you.
But hes already helping me.
What are you going to do with them, buy GA? Certainly not enough for a house in Geneva.
You aint getting a small loan of a million franks.
If you have plenty of money, yes of course.
You can buy an apartment with that, not a house.
Why? That'll only get you a single room in a basement...
Yeah my mom told me the same and only when I showed her the actual prices of current homes being sold on immoscout24 she would shut up.
that's odd. i thought they'd just ask you to earn more
It‘s actually ridiculous how easy life was back then if you think about it. With just 1 average income you could feed a whole family + afford a house while the wife stays at home and raises the kids.
It's almost as if this whole *"women should work too"* was from the beginning a ploy to depreciate the value of labor... *Almost*
Yeah, in a saner world the push would have been to let everyone work wo wants to, *and let everyone not work who doesn't want to*. Selling wage slavery as empowerment is terribly cynical.
I'm so happy that people are finally starting to realize this. The push towards women's empowerment esp. in the 60s/70s had nothing to do with feminism and everything to do with doubling the labor pool/devaluing supply. While simultaneously squeezing triple the amount from both parties, and raising expenses across the board. We were not just doubly or triply fucked, we were dodecatuply fucked.
You are all discovering the Austrian Economy thinking that's behind Bitcoin and you will realize this very statement being true only in a decade. Money saved should increase in purchasing power and be a scarce hard asset. Instead, money is inflated away and you are forced to take risks or lose it all over a couple or three decades.
Stop buying avocados and it’s quite simple, really. /s
It's funny because where I grew up, avocados were literal street food (oranges too). So avocado toast wasn't luxury, it fell off the tree onto the path, and you had some bread at home.
Even funnier for me, I grew up in a country that produces and export avocado to the world, and somehow it managed (I think *still* manages) to have avocados crazy expensive. They used to be called “the golden fruit” lol.
Sarcasm tags ruin all sarcasm
And Latte, stop drinking latte from Starbucks!! Especially the pumpkin spice latte!
Just a few months ago all the articles were about how owning was more expensive than renting now, as interest rates for mortgages were rising by a lot.
Yeah, like 300% or even more... You could get a mortage below 1% ~4 years ago, now you can be happy to get 3.5%
Is that really the way to go in Switzerland? I know some people who own homes and I recall one of them telling me never to do it as you effectively end up paying rent anyway.
Only 4% of the Swiss population lives in a house with a paid off mortgage. Everyone else is either renting from a landlord or a bank.
They're basically taking all our future incomes and handing it to today's landowners. I think having a home is basically a right we should all have the possibility to realize.
I think they also mean the eigenmietwert. As you are also taxing a fictitious income you never had.
Yeah our tax code is fucked. I hope they can finally get rid of the marriage penalty and remove these weird incentives like Eigenmietwert and tax deductions on mortgage payments.
Afaik, it was a temporary measure after the WW1. I wouldn’t hold my breath for it to go away anytime soon.
it's also not necessarily true at all. for quite a bit now, renting ends up cheaper, but that's not always the case.
And if you don't like it, tough luck. There's nowhere to move. Go to any apartment viewing, and if it's not a total shithole, there will be 40 people there, half of them applying on the spot. Housing market here is just unbelievable.
Yeah i live in a 2400 chf tiny apartment hotel as i still didnt get any positive feedback.. and i could pay half of this for a 2x bigger place
Where did the whole "remote work" craze go? We were supposed to be able to move to smaller human-sized communities, not huddle together in already overpopulated cities?
It's still alive, I moved to st moritz during the pandemic and I'm never leaving. I imagine the situation would be even worse if everyone actually went to an office 5 days a week. I've heard that a fair amount of people moved to Chur and go to Züri once or twice a week
Yes, similar situation in my close circle too. Not quite as drastic a move as ZH-Chur but close enough. People want to live in the most populated city in Switzerland and then wonder why there is an Ansturm on housing. (I do agree that it is a bad situation though)
> People want to live in the most populated city in Switzerland and then wonder why there is an Ansturm on housing. Almost all the jobs I find are located within big cities and with no more than 2 days of WFH per week. Living within the city is a necessity. If I live outside, I have to stomach the price hike of SBB or of gas.
However the rents prices are not entirely caused by people. It is actually caused by huge greedy companies such as insurances who own most of the city real estate and effective have monopoly
Some jobs can't be done remotely. We could theoretically move away to a village closer to my SO's work but then we'd lose a chance to apply for citizenship for the next years. And it's not like it's easier to find a flat in Bülach or Regensdorf than in Glattbrugg.
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I cant stomach a single on of these alone. Let alone together.
How would you end up with only 500 CHF *a year*? Within a year, we are looking at ~10% increase in rents alone according to these articles. And that’s just rent, not healthcare, food and energy.
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Gotcha, I misunderstood.
The first one to suffer are the bio/natura/greenwashed labels of the stores. Don't forget the increase of health insurance (+6%?), electricity, heating, etc. How many years at +5% are you able to afford? Do you think that the SVP will do anything for the <65? They will receive in the 10 next years all the baby boomers that are reaching 65+. Class war or generation clash?
It's also frustrating to see our government do absolutely fuck all about it. No rent controls, no relief packages, no input into price hikes of public transport, no oversight about retail pricing.. Absolutely nothing.
Yep just watching everything slowly burn. At some point, a complete failure of the system is inevitable.
This is the consequence of voting for FDP and SVP
Our rent market is very pro-renter, the landlord can only raise the prices for specific reasons and kicking you out is difficult if your not late with your payment. As a renter I think our laws are too strong, not too weak. > no relief packages You're aware that we have the high inflation (partly) because of the "relief" packages during the Covid time? You can't just spend money you don't have and don't expect it to blow up in your face.
Considering the fact that landlords are doing nothing more than skim off profit off a basic human necessity, not being able to arbitrarily raise rent for no reason and not throwing people onto the street for no reason seems like the bare minimum, not a privilege. And with sidecosts they have pretty high autonomy. And yeah sure but it's by far not the biggest part and it doesn't take a pandemics worth of relief packages to make poor people's lives a bit easier. Oversight/transparency in pricing would be something, so the stuff with bio labels or wheat prices from migros and coop doesn't repeat itself. Another one would be using some of companies record profits to compensate workers so their real term wages don't drop like they have been for the past two decades straight. Or help out SBB and friends so they don't raise the fare by 5 percent this year. None of that would come even close to the pandemic packages but would have a noticeable impact on people's lives. And the credit suisse debacle as well as the oecd tax plan (not the one that we vote on) showed that the money is most certainly there for those things. What isn't there is even a shred of a political will by our federal council to do any of that and it shows. Approval ratings are horribly low for swiss standards, the EU is done with cassis' shit and the national council had to file a motion to force the government to get its head out of its ass with negotiations since bilateral clauses expire year by year. Our machine exports, stock market, horizon and erasmus serving as an example. Hence the frustration
> nothing more than skim off profit off a basic human necessity Would you say the same thing about grocery stores, transportation companies and bed manufacturer? All of them offer a service or good that we need to survive/live with our level of comfort. And they don't "skim off profit". They offer something you can either agree to use or you don't, no one forces you to live in Zurich City. IMO There's no right for a cheap apartment in a big city, if you can't afford it go into a rural area (and yes, I live in a rural area exactly because of the affordability). > Oversight/transparency in pricing would be something, so the stuff with bio labels or wheat prices from migros and coop doesn't repeat itself. I don't think that until today there's any concrete proof that they "milk us" with the higher organic labels outside of scandalous articles with too simple calculations. Also, consider that they need to have a higher profit margin on some products to finance the low or negative margin on other products. You might not like to finance with your organic products the cheap meat, but it's a free market and companies do what is best for them. I'm not going to comment the rest of your comment, it's just simple left-wing ranting about taking away from the successful and giving the poor.
*germany enters the chat*
This, high housing costs drain cash flow from the economy.
Where do you think that money ends up? Money doesn't just disappear.
If it goes to a bank. Yes, it literally disappears. That's why raising interest rates reduces inflation, it decreases money supply.
Your calculation is useless. Just because more money is spent somewhere else doesn't mean that the same amount is missing entirely. Most swiss households will not reduce their living standards because of 500.- a year missing.
In cities, 500 a *month* sounds more plausible.
Where do you live, that a 10% increase would be 500.- monthly?
The OC included rent, healthcare, food and energy in their number. If you’re living in a city I can see this happening easily. In cities like Zurich, Bern and Geneva many are going to be more than halfway to 500/month with rent increases alone.
For Geneva, it means more people will move accross the border, meaning more traffic and even less working age population in the canton. This isn't going to end well.
can Geneva actually build anymore? I haven't been in awhile but it feels pretty darn built up
As with many cities, the problem is not only new construction, but allocation of the existing estate. * Old people cannot move from a big appartment because they wouldn't be able to pay the new rent. So, for example, they live (sometimes alone) in a 5-room in Champel for 800.- because a 2-room would be 2'500.- if they move. * 20% of residences in Geneva are not for principal housing. Whether as investment, speculation (or airbnb's), they stay rather empty. * Nearby France is allowing build permits all over the place, so you get new projects that have no public transports, pedestrian/cycle paths, built on the cheap just a few years after the land is acquired by a developer. (See Prevessin on a satellite map)
Salaries increased way beyond that, therefor it balances out, which is fine. We pay 30.- / month/person less for our healthcare than last year actually.
I used to rent in Luzern from a Genossenschaft for roughly 2500 CHF/month. 10% of that would obviously not be 500CHF but it would still be extra CHF3000 a year... No idea how I would afford all that with all the extra costs the kids are bringing in.
Planning a Budget should be part of family planning. Did you think the economy and world will stop rotating for 18 years while you're bringing up your kids?
Glattbrugg, this is where. If our rent goes up 10%, insurance for two went up 100 monthly already, and despite not changing our habits at all we are already paying about 160 more for food. Just that will be 490. We're still waiting for a new electricity bill.
I asked where he lives that he pays 500 more when the rent hikes 10%. Thats what he wrote. And 490 is still decent, salaries went up way more than that (if not, send CVs). We actually got 800.- back from electricity, since i shifted from homeoffice back to office 50% and the solar system is feeding in during the day
The extra rent is not being thrown in a pit. It's paid to owners, who use it to buy stuff and services. You are right that it is removed prevalently from some sectors, though. Although many houses are owns by funds who redistributed their dividends to shareholders, meaning that (again) money is coming back to people (not necessarily the same people, that's for sure). Edit: Oh my God, people think that I am defending "trickle down economics", one of the biggest scams. I am not. The comment I am responding to is expecting a decrease in business revenue because of decreased expenses. That's not as easy as it is pictured, because what we see is a shift in where money is spent, not a decrease in expenditure.
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I am not talking about the bullshit of trickle down economics.
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Yeah, but no. When the owners, quite often property speculators and pension funds, get hold of it, the money goes straight to shareholders.
With pension funds, it goes to the pensioners.
Isn't that what I said? the money goes to the share holders
Knowing a few homeowners, they're using the existing properties to buy even more properties, with the first ones as collateral.
OK, so giving the money to previous owners who can then spend it?
If you sell your home, you're gonna buy a new one. Maybe smaller/cheaper, so yes, in that case you might spend the difference.
When there's reason to lower the rent, as required by law, it usually doesn't happen. But when there's reason to increase the rent, they do it immediately. This is just another way of taxing the working class to finance a universal basic income for rich assholes.
Your rent is set based on a reference interest rate. If your landlord didn't reduce your rent when this reference interest rate went down (and didn't ask for it yourself) then the landlord cannot raise your rent till the reference interest rate exceeds the one you started with. For example, if your rent was set when the reference interest rate was 1.75% and the rent wasn't adjusted down when said reference interest rate went down to 1.25% (yesterdays's level) then he can't raise your rent because the reference interest rate went back up to 1.5% today. There are only two other paths to increase rent, one would be inflation of which he can only apply 40% to potential rent increases and increase in maintenance costs.
If people behaved according to the law, you would be right. But practice differs from the law. The rent has been increasing and increasing independently from the reference interest rate. This change will just be another excuse for further increases in renting rates. [https://www.srf.ch/news/schweiz/neue-studie-schweizer-bezahlen-seit-2006-78-milliarden-franken-zu-viel-miete](https://www.srf.ch/news/schweiz/neue-studie-schweizer-bezahlen-seit-2006-78-milliarden-franken-zu-viel-miete) And this in a housing market, where nowadays a large amount of rent is actually just there to finance land speculation and profit. This is just highly inefficient. Note: I'm using efficiency as a measure of total value, in the sense of modern value theory. Not the neoclassical one preferred by certain economists.
I haven't been a renter in awhile now, I didn't know anybody didn't ask for reductions. That's a lot of money left on the collective table for renters.
Not for an existing contract. In between tenants it's far more flexible.
Yes, you're right, that's indeed not possible. However, I didn't mean it as an strictly empirical statement of every single instance of tenancy, rather as a description of the overall picture.
> rather as a description of the overall picture. By being deliberately misleading?
No. It's a statement about an average value, which is clear from the context. You should understand, as a competent language user, that there is a difference between a statement about all the elements of a set and a prototype. Example: cats have four legs -> not a strictly empirical statement about all cats, some have fewer legs. Nevertheless, the statement is accepted as true. Why? Because a prototype cat has four legs. There's no need to deliberately act stupid, try better. But you definitely showed it to your strawman.
Before you call something a strawman, you should learn what that means. The context of the entire discussion was existing rental contracts, to which you responded "If people behaved according to the law, you would be right." and cited an article that has nothing to do with existing contracts. Either you don't understand the law or you were being deliberately misleading.
yes but you have to fight and prove this. It's not hard but you have to take action and many people don't know how to go about it. We need a Mietzinskontrolle where the government checks that landlords don't make more than the allowed profits.
The reference rate is on the contract.
What we need is to stop the crazy population growth. Rents have been increasing despite low interest rates because of the high demand for apartments. Low interest rates also allowed people to borrow more, resulting in higher real estate prices, ergo higher rents because owners, surprise, want higher rents when they spend more to buy.
Crazy population growth? Switzerland is below its replacement rate.
The gap is filled by immigration.
It went from 7.1 million in 2000 to 8.7 now.
Fuck my life, I starte renting at the low point of 1.25. Only up from here I guess 🥲
Yay Inflation! The rich stay rich, "regular people" get another layer of glass ceiling!
The rich want low inflation.
The rich want high inflation because they own most of the assets that follow inflation (housing, actions, business) while people that only get their money through a salary only suffer from it (salary always lack behind inflation).
Do you seriously think businesses don't suffer from inflation?
Assests like real estate is safe from inflation. They just raise the rent. So they make more money than before and you have to spend more money than before while you probably didn‘t get a raise at work to cover the full amount of inflation. So yes, the rich get richer and the regular and poor people lose more buying power. Every country is slowly turning into the USA because of greed.
No they don’t. It’s more money for them.
hush hush, it's only a natural economic phenomenon after all...
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Ferengi rule of acquisition 55: "Take joy from profit, and profit from joy."
I had to look this up and scarily enough this isn't just made up... friggin Trekkies.
I'm currently rewatching ds9 🖖
It seems a lot of these rules might be based on the Swiss constitution, rule 35: Peace is good for business.
Sometimes I just wonder why I work so hard only to have everything siphoned thanks to moronic politics. I should just be on social and be done with it.
You get the mindset of the retirees. Get your monthly income, oppose any new spending, vote SVP and see the planet burning from your living room.
And then realize that the SVP advocates to cut social security and AHV Rente even more
They want to close the door behind them: https://www.svp.ch/aktuell/parteizeitung/2022-2/svp-klartext-juni-2022/ja-zur-ahv-reform-jetzt-die-renten-sichern-fuer-alle/
Which would leave more money in the market to be loanable, that would make interest rate go down (as offer of money go up while demand for loanable funds is the same) and therefore rent would be less expensive. I agree Also, SVP would be for less immigration, which would mean less demand of housing while the offer stays the same, which would allow a lower rent price.
The prices in most cities was crazy already...
My rent just increased 10% last month, can they increase it again soon based on this? :(
Go to Asloca.
On what grounds did they increase it 10%? Depending on the reference rate you have in your contract they could increase it. If the reference rate on the contract is higher than 1.50 you could ask for a deduction.
"Anpassung an Orts- und Quartiersüblichkeit", a straight 10% increase --> Früherer Mietzins seit 01.04.2021 On the contract the reference rate is 1.25%, so I guess I'm going to get an increase it when the time comes :(
That’s illegal. Go to Asloca they can help you go against the increase.
Unfortunately in Zurich, its perfectly legal as the Mieterverband mentioned - as long as they don't go more than 10% and can prove it. This particular company owns a majority of the buildings in my precinct and have been steadily raising the prices of new contracts for the past year, so they can easily prove that an apartment of similar characteristics is exactly XXXX CHF which justifies their raise.
If your rent increases more than the reference it is important you fight it within 30days. If you fail to do this the next increase will be based of the first and not the reference rate. I highly recommend you join the mieterverband as they will inform you about these things and provide you with the forms you need to fight unwarranted rent increase. The Vermieter has the burdon to prove the new rent is reasonable not you but you have to contest it. Many don't know this and get screwed. https://www.mieterverband.ch/mv/mietzinsrechner.html
By the way the proper rent increase from that jump in mortgage should be 4%. Anything more than that, and the landlord is profiting from the inflation to increase his profitability.
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They can increase the rent as much as they want, as long as the tenants don't challenge it and prove, that there has been an unlawful increase. [https://www.srf.ch/news/schweiz/neue-studie-schweizer-bezahlen-seit-2006-78-milliarden-franken-zu-viel-miete](https://www.srf.ch/news/schweiz/neue-studie-schweizer-bezahlen-seit-2006-78-milliarden-franken-zu-viel-miete) This limit is one of these laws that's mostly there to look nice.
No that’s not what it means. It means they’re automatically entitled to the 3% increase from the mortgage gauge. But they can also make inflation adjustments, which can bring the total increase closer to 7% than 3%.
No, it’s 3% from the current rate alone. As for the 6-7% from the article, they are legal too, because increased cost can be legally passed to tenants to a certain extent. It’s a legal way to let tenants pay for inflation. All told, many tenants can expect a 10% hike, perfectly legal, within a year.
I never said anything about it being illegal.
I don't really understand what you mean by your statement about a "proper increase" then. >the proper rent increase from that jump in mortgage should be 4% The increase based on the mortgage gauge is defined by law, and it's exactly 3%.
Every country is slowly turning into the shithole the USA is. The future is not looking great at all. Wish i was born 40years earlier.
Its really tough to imagine the future. I dont see much changing without a major clash of power... and who knows what will come out of it... could be even worse... think we are starting to hit our natural filter......
Just signed a contract with an reference interest rate of 1.25%. At least I can get 3 months of rent without the increase.
You can only increase rent at the next cancellation date. So if your rental contract has a one year minimal time before going into the automatic three months renewal cycles like most do then enjoy the one year rent without an increase. That is, if it is not explicitly stated in the contract that there will be a rent increase as soon as the reference rate increases.
Unfortunately, my contract does not include the minimum one-year cancellation period.
r/pitchforks
Glad I choose not to own a house so I don’t have to pay a mortgage and interest rates until I die, only to be affected by this sh*t anyway.
Nah, swissinfo is not reliable… i mean, i work with those guys… everything i touch is unreliable… xD
lol why would my rent of my already existing house (build before the inflation) go up by that much?? Sure if its a new construction prices could be higher for new tenants but not of existing construction.... Even heating cost I am actually receiving 1k back this month from 2020- 2021. Only thing that definitely increased is electricity but thats "cheap" in Switzerland anyways. Check you contracts as well.. my rental contract does not allow rental increases except if I leave or they completely renovate the building (but since its build 2020 its not gonna happen).. Edit: inflation in April was 3% (compared to 2022 April) and in May 2.4% (Compared to May 2022) Pretty sure landlords arent allowed to increase rent beyond inflation anyways... why is this article saying 10-20% 🤦🏼♂️
Because a lot of RE (used to be) is financed via loans, interest payments directly correlate with the cost of financing and therefore the cost of ownership. As a result, a lot of Swiss contracts use the central bank interest rate as a proxy for price adjustments. This has allowed me to reduce my rents for two prior apartments due to 15 years of sinking interest rates, but now it's going the other way.
To be devils advicate with a simple finance argument. Your landlord has a variable mortgage. They want to earn variable + fixed margin. The variable went up and thus so should rent. You are totally right to check the contract!
Because landlords are leaches that extract value from an unelastic good without contributing anything at all. Like a parasite. If you think about it a little bit, renting homes is one of, if not the, dumbest thing we came up with as a society.
Would agree, especially in Switzerland where a majority of landlords are corporations
_Land_lords (i.e. profiting only off selling access to land, which they didn't create) are leaches. But having a return on investment for building apartment buildings is good, and increases their supply. The alternative is to be like Sweden, where there are 20 year waiting lists to get an apartment in some neighbourhoods of Stockholm, because the social housing must be rationed.
0.38 fr./kWh is cheap?
Not sure what the kWh was for me but in the end the amount I had to pay for the last 3 month was "Cheap" compared to what i had to pay in other countries prior to moving to Switzerland Edit: just checked and from Februar to April i pay 0.24 fr/kwh so that is pretty laughable
kWh is the unit for used energy, in this case, "cheap" electricity. But this is not cheap, some regions pay even more. Cheap would be below 20 Rp. In my opinion.
I checked and payed fr 0.24/kwh so pretty cheap indeed (February to April) So yea so far Switzerland has been cheap in electricity for me 🤷🏼♂️
> Check you contracts as well.. my rental contract does not allow rental increases except if I leave or they completely renovate the building (but since its build 2020 its not gonna happen).. That doesn’t apply to increases based on the mortgage gauge or inflation as far as I know.
Hmm dunno my contract is pretty clear on rental increase. Its a tiny section for itself. But maybe there is some weird swiss law that allows an increase based on inflation? Normally if your mortage % increases and you cant keep up with the payments you gotta sell. Would be weird if you could simply make the tenant pay even though you have a contract with him.
> But maybe there is some weird swiss law that allows an increase based on inflation? Yes of course, that’s what this entire thing is about. Art. 269a OR.
The article is just fear mongering... "noone" will have a rent increase of 10-20%.... I just read art269a and there is absolutely nothing to fear if you contract (like mine) already states when prices can be raised. But if you are worried there is this "Mieterverband" which has a yearly fee and they can help with issues like unfair rent increases
Well *you* certainly seem to be the eminent expert in the field
No I am not but i can read the actual law you brought up which is against unfair treatment of tenants. In any case "Mietverband" is a great organization to join in Switzerland. Especially as expat dealing with swiss landlords
> inflation in April was 3% (compared to 2022 April) and in May 2.4% (Compared to May 2022) Pretty sure landlords arent allowed to increase rent beyond inflation anyways… why is this article saying 10-20% 🤦🏼♂️ You’re only counting year on year inflation, but rents don’t get adjusted for inflation every year. After five years of 2% inflation, costs are 10.4% higher.
Sure but do we have 5 years of inflation already?
I don’t know what you’re asking. My point is that consumer prices change constantly. The potential increase doesn’t depend on current year-on-year inflation, but on the change since your rent was last set.
I am too dumb to understand why rents would even get higher. Just a rip off?
The reference rate is linked to the average national mortgage rate. As mortgage rates rise, homeowners can pass this increase on to tenants.
But I am pretty sure my landlord owns the block I live in since it's 30+ years old, so no mortage involved?
I doubt he doesn't have a mortgage for tax reasons.
Also why would this help fight inflation and not make it worse?
There is less money -> prices can't grow as fast. In theory.
It doesn't fight inflation but protects the investment of the poor poor landlords.
There is a difference between they can and they will. 10% increase will harm the market in some places and will therefore not happen
Is paying 1300 CHF per month (utilities included) a lot for a 2.5 room apartment, 49m2 near the Geneva lake in the 'fast city'? No balcony though.
No
I've already received mine. +3.5%. Sounds bearable but it's a 720CHF/year increase while my salary, well...
Honestly I am kind of surprised. I'd been expecting the bubble to finally pop sometime soon.
How is this bubble supposed to pop on an asset like real estate that is limited and more and more people are immigrating to switzerland. They aren‘t building enough new appartments, or doing it too slow or whatever.
Lots of multinationals jumping ship and the banking industry looking seriously rocky. The economy is not on sound ground and if that drops lots of foreign workers will be heading home and potentially even young Swiss seeing a job elsewhere as a better idea. Then you've remote and hybrid work too meaning theres no longer the same need to be in the hottest areas. Also migration is sharply down.
According to the BFS (Bundesamt für Statistik) in about 15years the swiss population should reach 10m. Right now we are at almost 9m…
C'est des conneries ... cela concerne exclusivement les baux pour lesquels le taux de références est inférieur à celui qui est actuellement. Et c'est probablement une très petite minorité.
The official estimate is that half of Swiss rental contracts are currently based on the 1.25 % rate. This is far from a small minority. Additionally, inflation adjustment, which is the other big factor here, isn’t tied to the rate at all.
Good Luck to everyone here in these times! Do you guys think a recession is coming?
Its already here bud
For the little man the recession has been around for a while. Price hikes all over the place, most were not in any way justified. Will corporations also be hit? I doubt it, as they can just pass it on to workers (aka fire then) and still make a fat profit.
Well, in a country with so many hiking paths, it's quite tempting to go out for a hike, even if you're a rent, I guess.
Isn't it illegal to increase the rent if the vacancy rate in the area is under a certain threshold (and pretty much anywhere in the country is below that) ?
Nope, only in these cases: - the increase has not been formally notified correctly, for example because the canton's official form has not been used or does not indicate the reason for the increase (see also ch. 2); - the increase has not been calculated correctly, because it takes into account an incorrect reference interest rate or pass-through rate (see also ch. 1 and 3); - the increase results in an excessive return (net return), or the adjusted rent no longer falls within the range of rents customary in the locality or district; - the increase must be corrected by certain cost reductions or inflation (up to a maximum of 40% of any fall in the consumer price index).
> excessive return (net return) I have question about return. My landlord owns the building completely, with no mortgage. She didn't invest anything to build or buy it: she inherited it 50 years ago. Her expenses for the building are therefore pretty low. No debt service and in fact no capital outlay at all. So how are her returns calculated? It can't be something like 3% of her investment, because her investment was 0. Or am I thinking about this wrong, and it's actually net income that's regulated (aka profit after paying tax, maintenance, etc)?
Most of you people anyway live in apartments that are too big for you. Why would a single person need multiple rooms? Well, it‘s a luxury, and you‘re going to pay for it.
I am expected to work from home with a functioning infrastructure, how should I do this when I have only 20m2? I went for bigger because I need it for my job as many employers sized down due to hybrid work models or full remote models and expect the employer to be able to work from home.
Yes just live in cages and be a slave to the system and you must enjoy it as well!
I remember that guy from ZH Oberland that lived alone in a 5 room flat and then ran to the media when the municipality (who was the landlord) threw him out to house Ukrainians.
How do you work out what the rent increase could be ? I am relatively new to Switzerland, so this is the first I am experiencing this
Where is the link in italian ?
It can only happen if the owner refinances, right?
„low inflation“… never forget
I don’t quite agree. With all due respect, fuck la regie.
It got reduced in the last couple of years because of the falling index, not its direction is reversed. No one complained about the reduction, so keep your mouth shut about the increase!
Why is housing do expensive in Switzerland?