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House Hunting in Zurich

House Hunting in Zurich

House Hunting in Zurich

Are you considering moving to Zurich, Switzerland? As one of the most livable cities in the world, Zurich offers a high quality of life, a strong economy, and a beautiful location on the shores of Lake Zurich. However, finding a house in Zurich can be a daunting task, especially for expats. In this article, we will explore the process of house hunting in Zurich, the costs associated with buying a house, and the ideal locations to live in the city.

The Housing Market in Zurich

Before diving into the specifics of house hunting in Zurich, it is important to understand the current housing market in the city. Zurich has a highly competitive housing market, with a limited supply of properties and high demand from both locals and expats. This has led to a steady increase in housing prices over the years, making it one of the most expensive cities in the world to live in.

According to a report by UBS, the average price for a house in Zurich is around 1.5 million Swiss francs (CHF). This may seem like a steep price, but it is important to note that the average household income in Zurich is also higher than most cities, making it more affordable for locals.

The Cost of Buying a House in Zurich

by Maryna Yanul

When looking for a house in Zurich, it is important to consider not only the purchase price, but also the additional costs associated with buying a property. These costs can include:

  • Real estate agent fees: In Zurich, real estate agents typically charge a commission of 3% of the purchase price.
  • Notary fees: A notary is required to oversee the legal aspects of the property purchase, and their fees can range from 0.2% to 0.5% of the purchase price.
  • Property transfer tax: This tax is paid to the canton (state) where the property is located and can range from 0.2% to 3.3% of the purchase price.
  • Mortgage fees: If you require a mortgage to purchase a property, there may be additional fees associated with it, such as appraisal fees, loan origination fees, and mortgage insurance.

It is important to factor in these additional costs when budgeting for a house in Zurich. On top of these costs, there may also be renovation or furnishing expenses to consider.

Ideal Locations to Live in Zurich

Zurich is divided into 12 districts, each with its own unique character and charm. When looking for a house in Zurich, it is important to consider the location and its proximity to amenities, public transportation, and schools. Here are some of the most popular and desirable locations to live in Zurich:

Kreis 1 (City Center)

Kreis 1, also known as the city center, is the heart of Zurich. It is home to the famous Bahnhofstrasse, a bustling shopping street lined with luxury boutiques and department stores. Living in Kreis 1 means being in the center of all the action, with easy access to restaurants, bars, and cultural attractions. However, it is also the most expensive district to live in, with average property prices reaching 2 million CHF.

Kreis 2 (Enge)

Kreis 2, also known as Enge, is a popular residential area for families and expats. It is located on the western shore of Lake Zurich and offers a mix of urban and suburban living. Enge is known for its beautiful parks, such as the Rieterpark and the Belvoirpark, and its proximity to the city center. The average property price in Enge is around 1.8 million CHF.

Kreis 3 (Wiedikon)

Kreis 3, also known as Wiedikon, is a diverse and lively district in Zurich. It is home to the popular Langstrasse, a street known for its vibrant nightlife and multicultural atmosphere. Wiedikon offers a mix of residential and commercial areas, with a variety of restaurants, cafes, and shops. The average property price in Wiedikon is around 1.5 million CHF.

Kreis 6 (Oberstrass)

Kreis 6, also known as Oberstrass, is a quiet and green district in Zurich. It is located on the northern side of the city and offers a mix of residential and commercial areas. Oberstrass is known for its beautiful parks, such as the Irchelpark and the Botanical Garden, and its proximity to the University of Zurich. The average property price in Oberstrass is around 1.6 million CHF.

Tips for House Hunting in Zurich

by Abby Rurenko

Now that you have an understanding of the housing market in Zurich and the ideal locations to live in, here are some tips to help you with your house hunting journey:

  • Start your search early: As mentioned earlier, the housing market in Zurich is highly competitive, so it is important to start your search early and be prepared to act quickly when you find a property you like.
  • Work with a reputable real estate agent: A good real estate agent can help you navigate the housing market and find properties that meet your criteria. They can also assist with negotiations and paperwork.
  • Be open to different locations: While the popular districts may be your first choice, it is worth considering other areas that may offer more affordable options.
  • Consider new developments: New developments in Zurich may offer more modern and affordable housing options. Keep an eye out for new projects in the city.
  • Be prepared for a bidding war: In a competitive market, it is not uncommon for multiple buyers to bid on the same property. Be prepared to make a strong offer and potentially enter a bidding war.

Conclusion

Finding a house in Zurich may seem like a daunting task, but with the right knowledge and resources, it can be a smooth and successful process. Understanding the housing market, the costs associated with buying a property, and the ideal locations to live in can help you make informed decisions and find your dream home in this beautiful city.

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