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Abstract
Zürich is a highly sought-after residential area. In the past 3 years, the number of inhabitants has grown to 427,721, which amounts to a population increase of 1.79%.
Population data
Average income totals CHF 87,515. 15.98% of residents are currently completing compulsory education, 30.8% have an SEK II qualification, 11.17% have a higher vocational education qualification and 42.05% of the population have a university degree.
Currently, 1.04% of the population is unemployed.
Taxes
10.99% is the rate of taxation in the region. However, the individual tax burden varies from person to person and is based on income, marital status and the overall level of deductions, among other factors. In Zürich, single people without children pay an average of 15.46% tax, a married couple on a pension pays 14.45%, a married couple with two children pays 6.87% and a couple with no children pays 10.08%.
Summary of the property market
New buildings
Over the last 5 years, 11,704 new apartments have been created in Zürich. A total of 1,072 1-room apartments have been built. In addition to apartments that had already been built, 3,368 new 2-room apartments have been constructed. Additionally, 3,871 3-room apartments and 2,699 4-room apartments have been constructed. The housing stock available in the area was also expanded to include 567 5-room apartments and 127 apartments with at least 6 rooms.
Housing stock
The new builds provide further living space in the area. There are a total of 232,937 apartments in Zürich. One-room properties comprise a total of 27,732 apartments in the region. What's more, there are 54,203 apartments with 2 rooms, 82,472 apartments with 3 rooms and 48,855 apartments with a full 4 rooms. Finally, 13,534 5-room apartments and 6,141 spacious apartments with a minimum of 6 rooms are available on the market.
Empty apartments
The rate of vacant apartments in Zürich is 0.06%. This means that 0.11% of the 1-room apartments, 0.06% of all apartments with 2 rooms, 0.05% of apartments with 3 rooms, 0.04% of apartments with 4 rooms and 0.1% of apartments with 5 rooms are presently unoccupied. The vacancy rate for apartments with more than 5 rooms is 0.13%; 0.2% of those empty properties are apartments with a minimum of 6 rooms.
Housing market (letting only)
Rental properties are offered at an average price of CHF 1,980 per month. 25% of the available rents are cheaper than or equal to a monthly rent of CHF 1,550 (25th percentile). In addition, 75% of all monthly rents are less than or equivalent to CHF 2,540.
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