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Every three months the rate of interest used to set the rents in Switzerland is reviewed. If it goes down some renters have the right to request a decrease in rent. If it goes up landlords can push up rents. This time the rate remained at 1.25%, however it looks set to rise next year. Photo by triemli on Pexels.comThe interest rate used to set the reference rate is the average rate on Swiss mortgage loans outstanding at 30 September 2022. The average rate was 1.18%, up from 1.17% from the...

Close to half of renters is Switzerland could face significant increases in rent, estimates Zürich Kantonalbank (ZKB), with rents potentially rising as much as 15% over the next five years, reported the newspaper Blick. © Beriliu | Dreamstime.comThe reference mortgage rate used to set rents, which was has been 1.25% since March 2020 could rise as high as 2.5% between now and 2027, said the bank in a recently published real estate report. This means that any leases with a clause...

Every year Switzerland’s motorway vignette is a different colour. Next year it’s yellow. Valid from 1 December 2022 until 31 January 2024, the new stickers must be displayed by anyone using Switzerland’s motorway network. The price remains the same. The motorway stickers have cost CHF 40 for 28 years. Introduced after a referendum in 1985, the sticker originally cost CHF 30 before increasing to CHF 40 in 1995. Inflation since 1995 means the sticker costs in real terms around 15% less...

On 23 November 2022, Switzerland’s Federal Council adopted the latest round of EU sanctions against Russia. © Petr Pohudka | Dreamstime.comIn response to Russia’s ongoing military aggression against Ukraine, as well as Russia’s continued efforts to destabilise and undermine Ukraine’s territorial integrity, sovereignty and security, the European Union (EU) adopted new measures against Russia on 6 October as part of the eighth package of sanctions, said the Swiss government. Following...

On 16 November 2022, Switzerland’s federal government announced the sums that will be transferred between the nation’s statelets or cantons in 2023, a mechanism aimed at ensuring wealthy cantons support those with weaker economies. © Eugenesergeev | Dreamstime.comIn 2023, CHF 5.6 billion will be transferred, a sum CHF 290 million greater than in 2022 (+5%). The total sum is equivalent to less than 1% of Swiss GDP. Under the national financial equalisation mechanism, six cantons will...

Around CHF 8 billion is spent annually on medicines prescribed for specific diseases in Switzerland. 20 drugs account for about a fifth of this cost, many of them sold at prices negotiated in secret. These confidential drug price negotiations are one of the reasons the cost of Swiss healthcare is rising so fast, claims Curafutura, an association representing Swiss health insurance companies. Photo by Polina Tankilevitch on Pexels.comAccording to Curafutura drugs aimed at specific diseases...

Many agencies and online platforms get hotels to sign contracts that stop them offering prices lower than those offered by the agency or platform. From 1 December 2022, it will no longer possible to legally enforce these arrangements as they will be deemed an unfair trading practice. © BiancoBlue | Dreamstime.comOn 16 November 2022, the Federal Council brought new regulations into effect aimed at ensuring that Swiss hotels are able to freely set their prices and offers regardless of any...

The Swiss cheese fondu “moitié-moitié”, which means half-half in English, will soon have its own figurative trademark, reports RTS. On 16 November 2022, the cheese producers’ association in the canton of Fribourg announced that it had applied for a trademark for the well-known “moitié-moitié” cheese fondu, which is made up of a 50/50 mix of Gruyere AOP and Vacherin Fribourgeois AOP cheeses made in the canton of Fribourg. According to the association, the trademark is needed because the...

Switzerland’s recent vote on state pension reform on 25 September 2022, divided men and women, reported RTS. Photo by Vlada Karpovich on Pexels.comThe vote was split into two parts. The first asked whether the state pension age for women should rise from 64 to 65 to bring it into line with the pension age for men. The second part asked whether VAT should rise from 7.7% to 8.1% to fund a looming pension funding shortfall. According to an analysis by the survey firm gfs.bern, 64% of men...

After construction workers went out on strike for two days in French-speaking Switzerland, construction workers protested in Zurich over hours and pay on 11 November 2022, reported RTS. Photo by Rodolfo Quirós on Pexels.comWith inflation in Switzerland running at 3%, construction workers are demanding higher pay. However, the construction industry has responded with an offer of better pay tied to higher maximum hours. The industry would like maximum weekly hours to rise to 58 and the...