Tag Archives: Editor’s Choice

A sharp rise in rent in December 2022 (+1.1%) left the average Swiss rent 4.3% higher than at the beginning of 2022, according to the Swiss Real Estate Offer Index, published on 4 January 2023 by SMG Swiss Marketplace Group. This annual jump of 4.3% exceeds the annual CPI increase of 2.8% announced this week. © Ocskay Mark | Dreamstime.comIncreases varied significantly by region. The highest rent rise was recorded in Ticino (+8.4%). The jump in Greater Zurich (+6.1%) was also above...

In good years the Swiss National Bank (SNB) distributes a portion of its profits to a number cantonal tax authorities, boosting their income. However, there will likely be no payments in 2023, reported the newspaper 20 Minutes. © Santiaga | Dreamstime.comWhen the SNB was trying to moderate the rise of the franc it bought large quantities of assets denominated in foreign currencies. In a rising market, these assets gained in value, producing profits. However, more recently, these assets...

As the end of 2022 approached, there were more than 250,000 unfilled jobs registered in Switzerland, equivalent to nearly one in every 20 jobs1. Out of the 264,069 vacancies recorded, nurses, electricians and managers were the most sought after employees, reported SRF. Together these three categories made up 10% of vacancies. On 15 November 2022, 6,995 nursing professionals were sought, 6,000 electricians and 3,917 software developers. The supermarket Coop was the company seeking...

Switzerland consumed significantly less gas in November 2022, according to the Swiss Federal Office of Energy (SFOE). Photo by Magda Ehlers on Pexels.comIn November 2022, Switzerland imported 3084 giga watt hours of gas, 29% less than the monthly November average of the prior five years, reported RTS. October 2022 saw a similar year on year decline (-40%). However, despite lower consumption the amount spent on gas rose significantly. During November 2022, Switzerland paid CHF 430...

A survey published on 27 December 2022 shows Swiss consumer sentiment is at its lowest since 2017. Photo by Andrea Piacquadio on Pexels.comMore than one in four of those surveyed expects their financial situation to deteriorate. Rises in health insurance premiums and energy costs were cited as the main reasons for financial pessimism by the 27.5% of people expecting their financial situation to worsen. The same percentage was 13% in 2019, 17.6% in 2020 and 16% in 2021. Unsurprisingly,...

Sharply rising health insurance premiums appear to be a key driver behind 27% of people changing insurance provider in 2022, according to a survey by Comparis. © stockcreations | Dreamstime.comAverage premiums for 2023 are 6.6% higher than those for 2022. This sharp rise in premiums was cited as a key factor for changing insurer by 61% of the 3,156 people surveyed by the price comparison website. Other reasons cited were a habit of regularly shopping around (47%) and poor service...

On 22 December 2022, Switzerland’s Federal Housing Office (FHO) published a report entitled Housing preferences in the wake of the Covid pandemic, which shows only a modest shift in preferences for living in less densely populated areas. Photo by Tranmautritam on Pexels.comLiving and relocation behaviour in Switzerland changed only slightly during the Covid pandemic, said FHO. A rising preference for less densely populated areas was observed however it was modest. On 17 March 2020...

This week, after two years of negotiating, France and Switzerland reached an agreement on the tax treatment of workers employed in one country who work remotely in the other, announced the Swiss government. © Itzhaki | Dreamstime.comFrom 1 January 2023, up to 40% of an employee’s annual working hours can be worked from home without having any impact on how they are taxed. Cross-border commuters, who typically live in France and work in Switzerland, are taxed in Switzerland....

On 25 September 2022, Swiss voters voted in favour of raising the rate of VAT to pay for state pensions. On 9 December 2022, the government announced the date the new higher rates will start. Photo by Anna Shvets on Pexels.comFrom 1 January 2024, the standard rate of VAT will rise from 7.7% to 8.1% and the reduced rate will move from 2.5% to 2.6%. The government said it wanted to implement the new rates at the beginning of a fiscal year to avoid the extra administrative burden for...

Passing in the right on multiple-lane roads is illegal in Switzerland and the penalties for those caught are severe. However, confusion abounds when it comes to the application of the rule. As more cases are challenged in court the definition of what is acceptable and the penalties evolve. This week, another case concluded setting a new legal precedent on the level of sanctions in some cases. © Annanahabed | Dreamstime.comWhen the rule was first introduced there was little flexibility....