Zurich

1. Zurich is home to the world's largest clock face, the clock tower of St. Peter's Church, which has a diameter of 8.7 meters (28.5 feet). This iconic landmark is not only a timekeeper but also a symbol of the city's rich history. 2. The city has an extensive network of underground tunnels known as the "Zürich Unterland," which were originally used for transporting goods and have now been repurposed for various functions, including pedestrian walkways and art installations. 3. Zurich hosts one of the world’s largest street festivals, the Street Parade, which celebrates love, peace, and music. This vibrant event attracts over a million visitors each year and showcases a colorful display of electronic music and dance culture, often taking place along the picturesque shores of Lake Zurich.

The Zurich housing market in 2025 is characterized by high prices and limited availability. The city has an extremely low vacancy rate of just 0.1% for rental apartments and 0% for owner-occupied properties, indicating severe housing scarcity. In Switzerland overall, 58% of residents rent their homes while 42% own them. In Zurich specifically, approximately 45% of rental properties are owned by individuals, while the remainder are owned by various entities including government (4%), cooperatives (7%), property developers (7%), and real estate investors (33%). Housing prices in Zurich continue to rise. The average price per square meter for apartments is approximately CHF 15,633 (€14,500). For high-end apartments, prices reach around CHF 41,300 (€38,300) per square meter. The average cost of a detached house in Zurich is CHF 2.5 million (€2.32 million). Cooperative housing plays a significant role in Zurich's market, with over 141 cooperative organizations operating more than 42,000 apartments. These cooperatives follow a cost-rent formula that keeps prices affordable and stable. Unlike social housing, Zurich's cooperatives are open to anyone regardless of income, with rents calculated based on costs rather than tenant income. The city supports cooperative housing by leasing public land and requiring architecture competitions for projects on this land. This approach has helped develop diverse housing options and innovative designs while maintaining affordability for middle-income families, elderly residents, and others who might otherwise be priced out of the city.

Zurich is experiencing one of the most acute housing crises in Europe, with an exceptionally low vacancy rate—recently measured at just 0.07%. This has created a situation where finding an available apartment is extremely challenging, leading to long queues and intense competition for every vacancy. High demand is driven by steady inward migration, a buoyant local economy, and the city's reputation as a financial and cultural hub. At the same time, the supply of new housing has failed to keep up, as construction is hampered by high land prices, strict regulations, and limited space. Rents have risen dramatically, with an increase of over 60% since 2000 and double-digit rental growth reported in the past year. The median rent now exceeds €410 per square meter annually. These rising costs disproportionately affect lower-income residents, migrants, young people, and families, who are frequently displaced by redevelopment and gentrification. Many longtime residents are pushed to the suburbs or to lower-quality housing as profit-driven institutional investors expand their share of the market, contributing to social and economic divides. Even middle-income earners now struggle to secure housing within the city, highlighting the broad impact of Zurich’s housing crisis.

Zurich's city administration is addressing affordable and sustainable housing through targeted goals and programs. The city aims to increase the share of non-profit housing to one-third of all rental apartments by 2050, up from about 25% currently. To achieve this, Zurich implements several concrete initiatives: 1. Active land policy - The city purchases land and leases it to cooperatives and non-profit developers at favorable rates, offering long-term leases of 60-100 years instead of selling publicly-owned land. 2. Housing fund - In 2023, voters approved a €280 million housing fund to support land and property acquisition for affordable housing. The city has also invested €300 million in affordable housing for 2023-2024 to buy land, build new apartments, and renovate older housing associations. 3. Financial support - Zurich provides low-interest loans and loan guarantees to cooperatives and non-profit developers. The housing fund enables non-profit developers to apply for financial contributions for land purchases and new buildings. 4. Inclusionary zoning - The city requires a percentage of affordable units in new developments and offers density bonuses for projects with a high proportion of affordable housing. 5. Innovative programs - Initiatives like "Wohnen für Hilfe" (Living for Help) pair students with seniors for discounted housing in exchange for assistance with daily tasks. These efforts have already resulted in nearly 830 new non-profit apartments in housing estates like Leutschenbach, Letzi, Hard, and Hardau I, plus the acquisition of 24 properties in recent years.

Housing cooperatives play a central role in Zurich’s housing market, accounting for about 18% of all dwellings in the city, or roughly 42,000 apartments. Altogether, over 140 cooperative organizations operate in Zurich. These cooperatives provide affordable, stable homes through a cost-rent model, with rents often much lower than those of private landlords. Cooperative apartments are not individually owned; instead, residents own shares in the cooperative and rent their units. The sector continues to grow steadily, with cooperatives replacing older buildings, investing heavily in new construction, and offering innovative living arrangements—such as shared or clustered micro-units—which cater to a wide range of household types and income groups. Demand remains high, and many cooperatives have had to close their waiting lists due to ongoing housing scarcity. The city of Zurich actively promotes cooperative housing through long-term land leases rather than selling public land. Cooperatives benefit from architecture competitions for new projects, which foster diverse housing solutions and high-quality design. Financial support also plays a key role: Zurich offers low-interest loans, guarantees, and a substantial housing fund to help cooperatives acquire land and property. Policy tools such as inclusionary zoning and density bonuses encourage affordable housing in new developments. As a result of these measures, the sector now provides one-quarter of Zurich’s housing, with an official target to increase non-profit housing to one-third of the rental stock by 2050.