High Rents Make People Leave Swiss Cities

Many people are leaving Swiss cities because rents are too high. A new report from UBS says that families and individuals are moving to the countryside to find cheaper places to live. The report found that rents go down a lot the further you get from big cities.

15,000 People Leave Swiss Cities Every Year

The UBS study found that, even though the five biggest Swiss cities are growing because of people moving in from other countries, about 15,000 people leave these cities for other parts of Switzerland every year. This is the most people leaving in 40 years. In Zurich, Bern, and Geneva, more people are leaving now than in the last 10 years. The bank says this is because there aren’t enough houses in big cities and rents are going up. Families and individuals are now looking for cheaper places in the suburbs or countryside.

Housing in Switzerland Cheaper Away from Cities

The report also noted that in 2023, rents for homes just 10 minutes away from big cities were 16 percent cheaper than in the city centers. With more people working from home, living further away is easier. In Canton Zurich, people can save the most by moving out of the city. Homes less than 10 minutes away from Zurich are 20 percent cheaper than in the city center. Homes 20 minutes away are 33 percent cheaper, and homes an hour away are half the price. In June 2023, a survey found that 92 percent of Zurich residents are worried about being able to afford living in the city. The same is happening in Geneva, where suburbs are 15 to 21 percent cheaper than the city center. In Lausanne and Basel, rents in nearby towns are 5 to 11 percent cheaper.

Rural Housing Projects are Cheaper and Faster

With fewer houses being built in big cities, UBS thinks more people in Switzerland will move to the suburbs and countryside in the future. The bank says this is good for construction companies because it is easier and cheaper to build houses in rural areas than in the city.