The vacancy rate in Switzerland is with more than 75’000 uninhabited apartments as high as in the past twenty years. And he continues to rise – no end in sight, although construction activity is slowly subsiding. In some places, but it is built still more. Often where the demand for new housing is low.
This development has now a new impact on the Swiss residential population. In a number of regions where in the past years, an above-average amount of living space was created, increasing the frequency of removals. The current realty shows Monitoring of the consulting company Wüest Partner. And: Who curbs, often remains in the same Region living.
“We see that people move increasingly within their community,” says Robert Weinert, head of the Immo-Monitoring Wüest Partner. Not because it requires a change of job, but, because of the strong construction activity of recent years in some regions, an Oversupply of housing was created. “The offer has increased the demand,” he says.
“keep the Trend to smaller house”
The reins boom comes about because under the pressure of increasing vacancy rates in many places, the Rents are reduced. In addition, a variety of apartments with the latest expansion of the standard by the new buildings being constructed. For people who previously lived in an old building, is also likely to be an incentive to move. In addition, the income and assets have increased in the past few years. Many could afford a slightly more expensive new apartment is so quite, says real estate expert Weinert.
A Region in which a lot in recent years and the demand was over built, the Canton of Aargau. According to the Federal office of statistics, stood at 1. June more than 8000 homes empty. Prompt, the proportion of people who have based in the Aargau, a new apartment is located in the Immo-Monitoring in relation to the permanent resident population at 12 to 13 percent. This is in comparison of Swiss high.
A significant increase in removals, the upper Emmental and the Kandertal in the Canton of Bern showed that between 2013 and 2017. Here, too, many of the apartments are above average empty.
Geneva and the adjacent surrounding areas have also experienced a significant increase in relocation activity. This is a Swiss special case: Because, in the Geneva agglomeration municipalities in the past few years, many new apartments were built, the relocations within the Region. “In addition, Geneva has a lot of WGs, within which the removal activity is high,” explains Weinert. Also Geneva has a high percentage of foreign people on the move more often than in the Swiss average.
“In Basel and Zurich, we see that the situation in the housing market continue to be tense,”Robert Weinert, head of the Immo-Monitoring Wüest Partner
Away from the major urban centers, such as Geneva or Zurich, does still more: The profiteers of the Vacancy are the Singles: “In the last five years, says the Trend to smaller households, more,” Weinert. So 100 additional residents would have been distributed in 2013 to 52 households, which accounts for just under two persons per household. In the past year, the number of additional people distributed already to 65 households.
A further reason for the increase in single-person households Weinert sees in the larger supply of housing. Increasingly smaller apartments were built up to 2.5 room. “In Basel and Zurich, we see that the situation in the housing market continue to be tense,” says Weinert, “one-person households have not increased, because of the lack of Offers.” In Geneva, they were even on the decline.
low interest rates fueling construction boom
the main trigger for the boom in construction that leads to stalls to high idle, is the persistently low interest rate environment. It funds, pension funds, and wealthy private investors to search for yield in the real estate market. Because with the construction of multi-family houses, a decent return can still be achieved.
So it was diligently built and built, not in the centers, where the demand for housing is great, but where land is still affordable in the conurbation, away from the big cities. Today, the real estate portfolio in Switzerland, has a value of 1.15 billion Swiss francs. Ten years ago, he was still half as high.
However, the new dynamics decreases: In 58 out of a total of 106 of the Wüest Partner-defined regions of Switzerland are currently being filed fewer applications for planning permission. The reduction is particularly strong in the southwest of Switzerland, In the cantons of Geneva, Vaud, Fribourg and Valais, the new building are permits under the average for the past five years. Also, the vacancy-ridden conurbations feel slowly the Ebb of the construction boom.
Created: 24.10.2019, at 17:08
