Tag Archive: Editor’s Choice

The new 10 Swiss franc note hand mystery

2017-10-12

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2017-10-12

Money
The third in a series of gorgeous new Swiss franc bank notes will be released by the Swiss National Bank (SNB) on October 18th. The 10-franc note keeps its yellow colour, but most everything else in the design and construction is different. What’s most remarkable about the new bank note? Not the 40 centimes or so it takes to make each note, nor that each note is projected to last only about a year. Not the sophisticated security measures, including...

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3 million francs of gold and silver found in Swiss sewers

2017-10-11

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2017-10-11

Call it “dirty money” if you wish, because there’s about CHF 3 million in gold and silver found each year in Swiss sewage. But no one is going to get rich, according to a just-published report by the Swiss Federal Institute of Aquatic Science and Technology (Eawag). Recovering the estimated CHF 1.5 million in gold, and the same in silver, that passes through Swiss wastewater each year, wouldn’t be cost-effective, says the report. On the bright...

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Talk of cutting Swiss pensions paid to foreign residents

2017-10-08

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2017-10-08

Chair
According to Le Matin, Jean-Luc Addor, a parliamentarian and member of the Swiss People’s Party (UDC/SVP), wants to know what savings could be made if pensions paid to those abroad were adjusted for living costs in those countries. According to the newspaper, after the rejection of the vote to reform Swiss pensions, Addor said that the rejected reform was aimed at guaranteeing the financing of the pension system over the coming years, as well as...

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Swiss 2018 health premiums unveiled. Brace yourself.

2017-10-01

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2017-10-01

Yesterday, the Swiss government released health insurance premiums for 2018. There are price hikes across the board, particularly in French-speaking Switzerland. Next year, the price of standard compulsory insurance for an adult with a CHF 300 deductible will rise 4% on average. The cost varies by canton. Prices rises range from 1.6% to 6.4%. Health premiums for children will rise by an average of 5%, more than those for adults.

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Survey offers clues to why Swiss rejected last Sunday’s pension reform

2017-09-30

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2017-09-30

Kid
A survey by Tamedia offers clues to why 52.7% of Swiss voters rejected the pension reform plan that was put to a vote last Sunday. 20% of those voting “no” thought it was a pseudo reform that didn’t go far enough, while 26% felt it left too much of a burden on younger taxpayers. In 1981, when the life expectancy of an average Swiss woman was 79.2 years, the average time spent collecting the state pension was 15.2 years. Now an average Swiss woman...

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Swiss want TV tax cut by half, according to survey

2017-09-29

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2017-09-29

Kids
Some who move to Switzerland might not be aware that they are almost certainly required to pay one of the world’s highest broadcasting fees. An annual Swiss licence costs CHF 451.10 per household. A successful vote in 2015 changed the rules on who must pay the fee. From 2019, it will be compulsory for anyone with a primary or secondary residence in Switzerland to pay it, effectively making it a tax on all households. At a new lower price of CHF 400...

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Housing in Zurich and Geneva only moderately overvalued, says UBS

2017-09-28

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2017-09-28

The UBS Global Real Estate Bubble Index 2017 describes housing in Zurich and Geneva as only moderately overvalued. The two Swiss cities rank 6th (Geneva) and 9th (Zurich) in a list of 20 selected global cities. The top eight: Toronto, Stockholm, Munich, Vancouver, Sydney, London, Hong Kong and Amsterdam are all classified as bubble risk. Only Chicago is undervalued.

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Geneva and Lausanne remain Switzerland’s toughest home markets

2017-09-16

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2017-09-16

Home vacancy rates in Switzerland’s main cities have all risen over the last few years, bringing some hope to those looking for a place to live. The latest 2017 data confirm this trend. While these percentage shifts might appear big, very low vacancy rates underly them. On 1 June 2012, none of these cities had a vacancy rate above 1%. Zurich (0.29%), Bern (0.48%), Basel (0.13%), Lausanne (0.28%) and Geneva (0.21%) were all well below 1% vacancy...

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Switzerland’s home ownership illusion

2017-09-08

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2017-09-08

House
When 10-year mortgage interest rates fall to 1%, home ownership becomes a very attractive alternative to renting. A recent report on home ownership shows why home ownership remains out of reach of the average Swiss household despite very low interest rates.The report, by Credit Suisse, says that despite the strong desire for people to own their own home, fewer and fewer households are able to afford them as the years go by.

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Switzerland’s most expensive apartments in Zurich, Maloja and Lavaux

2017-09-06

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2017-09-06

According to data from comparis.ch, Switzerland’s most expensive apartments are found in Zurich, Maloja – home to Saint-Moritz, and Lavaux-Oron. One square metre will cost you CHF 12,250 (US$ 13,000) in Zurich, CHF 11,500 in Maloja and CHF 11,250 in Lavaux-Oron. Lavaux-Oron contains posh parts of Greater Lausanne, such as Lutry, and the UNESCO-listed wine terraces of Lavaux on the shore of Lake Geneva.

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Finding a place to rent getting easier in Switzerland

2017-09-04

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2017-09-04

A recent Credit Suisse report, entitled: Tenants Wanted, says capital continues to flow into Swiss real estate, boosting the supply of rental properties. Against a backdrop of negative interest rates at Switzerland’s central bank, investors continue to plough money into constructing new residential properties. At the same time, declining immigration has hit the demand for rental apartments.

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A Swiss parliamentary commission wants to get rid of imputed rent

2017-08-26

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2017-08-26

In Switzerland, home owners have to add a theoretical rent to their taxable income. This means home ownership can increase your annual tax bill, sometimes substantially.

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Higher Swiss health premiums for those with high deductibles challenged by commission

2017-08-20

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2017-08-20

Swiss Health Insurance
In June 2017, Switzerland’s Federal Council announced plans to reduce the discounts offered to those willing to risk paying the first chunk of their annual medical bills. The plan included reducing the maximum premium discounts given for opting for deductibles, the amount paid by the insured before insurance kicks in.

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Number of vacant homes rises again in Vaud

2017-07-19

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2017-07-19

At 1 June 2017, 3,650 empty homes, of which 2,655 were for rent and 995 for sale, were on the market in Vaud. This brought the vacancy rate to 0.9%, a rise of 0.1% compared to the year before. This rise follows an increase of 0.1% in 2016 from a rate of 0.7% in 2015. The market is considered balanced when the vacancy rate reaches 1.5%. The last time it was above this mark in Vaud was in 1999.

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Swiss franc outstrips other currencies over last 117 years

2017-07-06

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2017-07-06

Recent analysis by Credit Suisse, London Business School and Cambridge Judge Business School shows the Swiss franc’s enduring strength. The reports says that for a small country with just 0.1% of the world’s population and less than 0.01% of its land mass, Switzerland punches well above its weight financially.

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Swiss Rail to launch app that lets you pay when you arrive

2017-07-01

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2017-07-01

CFF Smartphone
Swiss Rail plans to test a new smartphone app that will charge you when you arrive. The app will automatically search for the cheapest fare once the journey has ended, promising users the lowest possible fare. The new app, which will be added to Mobile Preview, will be tested in 2018.

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Higher Swiss health premiums for those with big deductables

2017-06-30

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2017-06-30

Health Insurance
The Swiss government announced plans to reduce the discounts offered to those willing to risk paying the first chunk of their annual medical bills. It also plans to adjust deductibles in line with shifts in medical costs. This will be discussed until 19 October 2017.

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Property prices fall in Swiss resorts but climb elsewhere, says UBS report

2017-06-17

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2017-06-17

St. Moritz
A real estate report by the bank UBS, which looks at 25 top resorts in Switzerland, Austria, France and Italy, shows vacation home price drops across Switzerland. These price falls contrast with price rises in resorts in Austria, France and Italy.

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Swiss government moves a step closer to axing capital withdrawals from pensions

2017-06-09

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2017-06-09

Savings
Swiss pensions have three parts. The first is a standard payment based on the number of years you have paid social security taxes (AVS / AHV). The second (2nd pillar) is based on a personal pot of money built up from compulsory salary deductions. And the third is a personal pot derived from optional tax deductible savings, known as a 3rd pillar.

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Switzerland not the most expensive in Europe for some mobile packages

2017-06-08

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2017-06-08

Yesterday, the price comparison website Verivox published a study comparing mobile phone costs across 13 european countries. On most measures Switzerland was the most expensive, and by a wide margin. A plan including 100 minutes of talk and 1 Go (gigaoctet1) of data per month costs an average of CHF 25 per month in Switzerland

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