According to the Economist’s annual ranking of cities, Zurich came out top in the report published on 29 November 2023. Tied in first place this year were Singapore and Zurich. Singapore is no stranger to the top spot: it has ranked as the priciest place to live in nine of the past 11 years. Groceries, […]
Swiss deficit: federal government discusses higher taxes
Switzerland, a nation with a reputation for well managed finances, like much of the world is struggling to cover rising costs. Projected spending on the military and state pensions are key challenges. Spending on refugees and healthcare are additional head winds. The federal government has been looking hard for savings. However, this week talk turned […]
Swiss rents set to rise after mortgage rate rise
On 1 December 2023, Switzerland’s Federal Housing Office announced the reference mortgage interest rate for rental agreements will rise from 1.50% to 1.75%. The reference rate is mentioned in many Swiss tenancy agreements. If the rate goes up landlords can increase rents. If the rate goes down tenants can demand lower rent. The rate is […]
Rising Swiss health premiums reduce disposable income once more
Since 1999, the cost of health insurance has more than doubled. Basic compulsory insurance is now 2.36 times what it was in 1999, while complimentary optional insurance is up by 30%. Overall, disposable income has been reduced by 5.3% by the rising cost of insurance over the last 25 years. Six of the last 25 […]
Sharp rise in tenancy disputes in Switzerland
The number of tenancy disputes in Switzerland jumped 42% in the first half of 2023 compared to the second half of 2022, reported the government this week. Across Switzerland a total of 17,519 tenancy or lease arbitration proceedings were initiated between January and June 2023. The rising number of disputes follows rent hikes, often triggered […]
Swiss government launches plan to stop rising rents
Switzerland, where only 36% of the population own their homes, is sometimes referred to as a nation of renters. So when rents rise, as they have recently, the subject becomes political. On Wednesday, Switzerland’s Federal Council announced that it was looking for ways to temper short term rent increases. Across Switzerland, 64% of the population […]
Cross-border shopping – Swiss government intends to cut tax free allowance
This week, the newspaper Tages-Anzeiger reported that Switzerland’s federal government is working on reducing the tax free allowance granted to people returning home from a shopping trip abroad. The amount is currently CHF 300 per person per day. The government is looking at cutting this allowance to CHF 150 per person per day, according to […]
Swiss pay rises won’t keep up with inflation in 2024
A report by UBS predicts average Swiss salary growth of 1.9% in 2024, set against expected inflation of 2%. If correct, real pay will be slightly lower by year end than it was at the start of the year. The bank said that rising health insurance premiums will mean many workers face a loss of […]
Swiss government wants to cut broadcasting fee
Switzerland, like the UK, charges households an essentially unavoidable broadcasting fee. The money raised is used to fund public news and entertainment. However, the fee is divisive. Some view it as a necessity to ensure the public is well informed. Others see its unavoidable nature as an affront to personal liberty. A public vote to […]
Electric vehicles to be taxed next year in Switzerland
From 1 January 2024, electric vehicles (EV) will be taxed like their petrol and diesel equivalents, announced Switzerland’s Federal Council this week, reported RTS. Cars imported into Switzerland suffer a 4% tax. EVs are currently exempted from this tax. From the beginning of next year all cars including EVs will be taxed. The exemption, introduced […]
