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Report: Swiss rents set to fall in 2017

Good news for apartment-hunters: rents are likely to fall during 2017 as the building of new homes leads to an increase in the number of vacant apartments.

Published: 26 April 2017 10:25 CEST

Report: Swiss rents set to fall in 2017

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That’s the analysis of real estate consultants Wüest Partner in the latest edition of their Immo-Monitoring report, published on Tuesday.

Rents are likely to decrease by 0.9 percent on average across Switzerland this year, with Geneva and parts of the Valais set for larger reductions.

“The fundamentals of the Swiss rental market remain solid,” said the report. However “construction activity remains high, which will increase the number of available apartments in the coming months”.

“Due to the increase in homes, it has become more difficult to find tenants, particularly if rents don’t match their expectations,” it added.

In certain places rental prices are likely to go down as a result, it said.

Geneva and the Valais should see decreases of 2.1 percent, while Zurich expects a drop of 1.5 percent and eastern Switzerland 0.8 percent, reported news agencies.

It’s a different picture for buyers, with the purchase prices of condominiums and single houses continuing to rise slightly.

Condos are likely to increase by 0.5 percent across Switzerland this year due to high demand, said the report. Single houses should go up by 0.8 percent on average, with the biggest rise in Zurich, at 1.9 percent.

However prices in the Lake Geneva region and Valais are set to fall.

Only around 30 percent of people own their homes in Switzerland, since most people rent — despite the fact that rents are among the most expensive in the world.

Property prices can also be steep, however wages are among the highest in Europe and interest rates on mortgages are currently extremely low.

READ MORE: Why now’s the time to buy a home in Switzerland

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Checklist: What you need to do if you move house in Switzerland

Anyone who has ever moved, whether in Switzerland or elsewhere, knows it is not just a matter of simple logistics.

In fact, whether you are relocating to another town or canton, or just to another neighbourhood, moving is a big, expensive, time-consuming, and stressful experience.

These are various tasks you will have to cross off your list, one by one.

Getting your old apartment in order

It goes without saying that before you move out, you must make sure to leave the place clean and in order. Most people hire a cleaning company to do so, though you can, of course, do this yourself.

If, for instance, you broke or damaged anything while living in the apartment, you must repair it before you leave.

The condition of the apartment will be assessed during the final inspection process, when the landlord or the management company will write down all damages which you are responsible for either repairing yourself or paying someone else to do it for you.

You are not officially off the hook with your previous landlord until this process is completed.

De-register your old address and register the new one

Whether you are moving across the country or just across the street, this is an obligatory step.

You must let your ‘old’ commune’s population office (Einwohnerkontrolle / Contrôle des habitants/ Controllo abitanti) know you are leaving, and from which date.

You can do so either in person or (if available) online.

Then, when you settle in a new home, you have 14 days to announce your arrival in your new municipality, though in some places the deadline may be longer.

You will need the following documents:

A passport or ID card for each member of the family, in addition to a passport-sized photo for everyone
Documents relating to your family status — whether you are single, married, and with children
Your work or residency permit
Your lease contract or proof of home ownership
Your health insurance card or proof of your current health insurance policy.

The rules are the same regardless of where you arrive from, that is, if you are Swiss, an EU citizen or from a third country, however the supporting documentation may vary.

Some cantons may require other or additional documents, which you can find out ahead of time on your commune or canton’s website.

READ ALSO: Why you need to tell Swiss authorities where you live

Inform the post office about your change of address

To ensure that your mail arrives at your new home, fill out the ‘change of address’ form online at least four days before your move.

Four days is a minimum required time for the post office to process the address change and register it in the electronic database.

If you wait longer, your mail will continue to be delivered to the old address.

You also should notify these companies of your move and new address:

Your mobile telephone / internet provider (if you still have a fixed phone, you should have it switched off at the old address and re-activated at the new one)
Your bank
Your insurance companies (health, car, and any other ones you have, both mandatory and optional)
Your doctor / dentist

If you forget to inform anyone of your new address, no worries — the post office will automatically forward the letters to you, provided your notified them of the change (see above).

What about the tax office?

You don’t have to do a thing.

Your local commune will automatically inform tax authorities of your move, so there is no chance whatsoever that they won’t find you.

Rental versus owned property

If you move into a rental property, you don’t need to, in most cases, notify utility providers like the electric company of your move.

But if you are going to live in your own house, then you must let the local power company know to switch on your electricity supply.

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