Monday , December 23 2024
Home / SNB & CHF / Swiss fact: Switzerland has one of the world’s lowest home ownership rates

Swiss fact: Switzerland has one of the world’s lowest home ownership rates

Summary:
In Romania, 96.1% of the population owns the home they live in. In Switzerland the percentage is 37.4%. © Dirima | Dreamstime.com - Click to enlarge Home ownership rates vary significantly across the country. The lowest rates are found in the canton of Basel-City (16.0%) and Geneva (18.3%). Relative to these two cities, home ownership abounds in Valais (57.2%), the highest. Vaud (31.4%), Zurich (28.5%), Bern (39.9%), and Luzern (34.8%) are all in between. In addition, there is a correlation between age and ownership. 47.5% of those 65 and older own, while only 26.1% of those between 25 and 65 do. Rising prices probably explain some of this difference. While Swiss home ownership lags behind much of the world it increased from 31.3%, in 1990, to 37.4% in 2014, a 19.5% rise. The biggest gainers were Basel (+45.5%), Zurich (+36.4%), and Geneva (+32.6%). Only one canton, Obwalden (-9.0%), saw a decline. In nations like the UK, where buying a home is considered a cultural rite of passage, ownership rates have gone in the opposite direction. After peaking in April 2003, at 71%, UK home ownership slumped to 64% in February 2016, according to the Resolution Foundation. Outer London (-13.5%) and Greater Manchester (-14.5%), declined the most. The US shows a similar trend.

Topics:
Investec considers the following as important: , , , ,

This could be interesting, too:

Investec writes Federal parliament approves abolition of imputed rent

Nachrichten Ticker - www.finanzen.ch writes Krypto-Ausblick 2025: Stehen Bitcoin, Ethereum & Co. vor einem Boom oder Einbruch?

Connor O'Keeffe writes The Establishment’s “Principles” Are Fake

Per Bylund writes Bitcoiners’ Guide to Austrian Economics

In Romania, 96.1% of the population owns the home they live in. In Switzerland the percentage is 37.4%.

Swiss fact: Switzerland has one of the world’s lowest home ownership rates

© Dirima | Dreamstime.com - Click to enlarge

Home ownership rates vary significantly across the country. The lowest rates are found in the canton of Basel-City (16.0%) and Geneva (18.3%). Relative to these two cities, home ownership abounds in Valais (57.2%), the highest. Vaud (31.4%), Zurich (28.5%), Bern (39.9%), and Luzern (34.8%) are all in between.

In addition, there is a correlation between age and ownership. 47.5% of those 65 and older own, while only 26.1% of those between 25 and 65 do. Rising prices probably explain some of this difference.

While Swiss home ownership lags behind much of the world it increased from 31.3%, in 1990, to 37.4% in 2014, a 19.5% rise. The biggest gainers were Basel (+45.5%), Zurich (+36.4%), and Geneva (+32.6%). Only one canton, Obwalden (-9.0%), saw a decline.

In nations like the UK, where buying a home is considered a cultural rite of passage, ownership rates have gone in the opposite direction. After peaking in April 2003, at 71%, UK home ownership slumped to 64% in February 2016, according to the Resolution Foundation. Outer London (-13.5%) and Greater Manchester (-14.5%), declined the most.

The US shows a similar trend. After peaking at 69% in 2004, the rate was 64.5% by 2014. And like Switzerland, home ownership in America’s principal cities is much lower than the average – it was 49.9% in 2014. Unlike Switzerland however, the ownership level in key US cities has stayed flat at 49%, showing few signs of growth.

More on this:
Swiss home ownership rates (in French) – Take a 5 minute French test now
European home ownership rates (in English)
UK home ownership rates (in English)
US home ownership rates (in English)


Tags: ,,
About Investec
Investec
Investec is a distinctive Specialist Bank and Asset Manager. We provide a diverse range of financial products and services to our niche client base.

Leave a Reply

Your email address will not be published. Required fields are marked *