A New report has been released, showing the surprisingly high salary needed to buy a house in Zurich.

The study, conducted by the real estate agency and consultancy Iazi, reveals the income required to purchase a single-family house in Switzerland’s biggest cities. The findings might be a bit challenging to believe.

Iazi examined the average cost of a 140-square meter single-family house in major Swiss cities like Zurich, Geneva, Lausanne, Bern, and Basel. The goal was to determine the minimum income someone would need before a bank would consider granting them a mortgage. The mortgage terms included a 4.5 percent annual interest rate, an additional 1 percent in costs, and a 20 percent down payment.

This report follows a recent study by Wüest Partner, which found that while there are affordable apartments to buy in seven Swiss cantons, only two have reasonably priced single-family houses. Iazi’s study also highlights the sharp increase in house prices in recent years.

Donato Scognamiglio from Iazi explained to SRF that housing prices are rising because Switzerland is highly attractive, leading to significant demand. He pointed out that immigration, coupled with a shortage of new housing, is the primary reason homes have become even less affordable.

So, how much do you need to earn to buy a house in Zurich? Brace yourself: the average cost of a small house in Zurich is 3.19 million francs. According to Iazi’s affordability rules, a person or household would need a salary of at least 525,000 francs per year to even consider a mortgage, along with a down payment of over 600,000 francs.

Geneva comes in as the second most expensive city, with 140-square meter houses averaging 2.94 million francs. This requires an annual salary of 484,000 francs. Following Geneva is Basel (2.25 million francs, requiring 370,000 francs per year) and Lausanne (1.96 million francs, necessitating 322,000 francs per year). Bern is the least expensive, with single-family homes costing 1.87 million francs, requiring a minimum salary of just 308,000 francs per year.

Iazi emphasizes that a yearly income of 100,000 francs is now needed to secure a mortgage anywhere in Switzerland. SRF pointed out that a working couple with the average Swiss salary (80,000 francs per year each) would be just shy of halfway toward securing a mortgage in Bern. Scognamiglio suggests that due to the lack of affordable housing in the cities, prospective homebuyers need to explore areas outside the urban centers to find more reasonably priced homes.

While the Swiss economy remains strong compared to other nations, with lower inflation and unemployment rates, Scognamiglio notes that buying a house in Switzerland will never be cheap, largely due to the positive economic conditions.