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Luxury real estate Zurich: Residential real estate market – Prices flatline on a high after period of growth

  • Price highs of 35,000 Swiss francs (approx. 35,000 euros) per square metre
  • Sustained upward trend for modern urban apartments and historic mansions

Hamburg / Zurich, 18 January 2022. Zurich is among the cities in the world offering the highest quality of life. As one of the leading financial and economic centres in Europe, the city attracts many private buyers and institutional investors. With its population now having reached 440,000, more people are currently live in Zurich than ever before. “In Q3 2022, residential property prices in Zurich only rose slightly (+0.6%) over the same quarter last year. In view of the continuing demand from national and international buyers, along with the extremely limited supply of properties in prime locations, we expect prices to flatline on a high in 2023,” says Axel Kühn, Licence Partner at Engel & Völkers Zurich Paradeplatz & Oerlikon. The average price per square metre for apartments in the luxury segment is currently between 22,000 and 35,000 Swiss francs (approx. 22,000 to 35,000 euros). The average sales price for mansions and detached properties with living interiors of some 300 square metres is 9 million Swiss francs (approx. 9 million euros). The steady growth in the population will continue to drive this excess demand – meaning that, despite the current economic outlook and rising interest rates, prices can be expected to remain stable in the city centre, in prime locations, and the surrounding regions. The high quality of life, the diverse array of cultural offerings and educational institutions, and the proximity to the mountains make Zurich an attractive primary residence. Alongside traditional banks and insurance firms, many tech companies and start-ups have recently relocated their headquarters to Zurich. This trend alone will mean that the appeal of the city as a place to live and work will continue to increase.

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Appealing location factors and a high standard of living attract international buyers

Around 120,000 companies are based in Zurich, forming a dynamic network of major international corporations, innovative medium-sized companies and highly specialised small businesses. “The burgeoning start-up scene gives a further boost to its status as a business hub, which in turn is prompting lots of young talent and a highly qualified workforce from all over the world to settle here and, after initial rental experiences, act on their long-term purchase plans,” says Lars Keller, Licence Partner of Engel & Völkers Zurich & Zurichberg. While domestic clients account for around 75 percent of the real estate market, 25 percent of all property transactions in Zurich can now be attributed to foreign buyers living in Switzerland – and this figure is on the rise. The majority of prospective buyers come from Germany, the Benelux Union, the UK, France, Italy, Eastern Europe and Scandinavia.

Top prices for residential property in hillside locations on Lake Zurich

Among the most exclusive locations are Fluntern and Hottingen at the foot of the Zurichberg. These two residential neighbourhoods are east of the historic city centre and combine the benefits of suburban living with the luxury of expansive natural surroundings. The many opportunities for jogging and mountain biking make this location particularly popular with clients who enjoy a sporty, active lifestyle. Historic estates on large plots with magnificent gardens and unobstructed views of Lake Zurich and the Alps are in high demand here. In 2022, just a small number of properties of this calibre changed hands for tens of millions. Top prices per square metre in excess of 33,000 Swiss francs (approx. 33,000 euros) were fetched for high-end apartments.

The Enge neighbourhood is situated southwest of the city centre. Residential properties here are set over a hillside dotted with large parks filled with mature trees. This area is especially popular with young families due to it being within walking distance to Zurich’s business centre and lakeside bathing spots. In 2022, townhouses sold here for up to 10 million Swiss francs (approx. 10.1 million euros). The top price per square metre for loft apartments was as much as 24,500 Swiss francs (approx. 24,500 euros).

Höngg is located above the Limmat River on the slopes of the “Käferberg”. Thanks to its south-facing location overlooking the city centre, Lake Zurich and the Limmat Valley, this neighbourhood is highly sought-after by families and commuters. Residents here also value the proximity to the local recreation areas of Waidberg / Käferberg, as well as the convenient transport links to the city centre and Zurich Airport, which can be reached in just 15 minutes by car. In 2022, mansions in Höngg sold for an average of 4 to 5 million Swiss francs (approx. 4 to 5 million euros).

Zurich West is the former industrial quarter and one of the city’s up-and-coming districts. This trendy district has a captivating alternative flair and makes for an architectural contrast to the picturesque Old Town. A host of different cafés, vibrant craft shops and second-hand boutiques add to the charm of Zurich West. This area of the city is particularly popular with students and young entrepreneurs. Top prices per square metre for freehold apartments here in 2022 reached 23,500 Swiss francs (approx. 23,500 euros).

luxury real estate Outlook: Thriving economic area to safeguard high prices

New construction projects such as “Europaallee” directly next-door to Zurich’s main railway station, the “Käferholz” residential complex with over 200 premium freehold apartments and “Hamberger Park” with luxury apartments are all playing their part in the ongoing structural evolution of the city, and  attracting renowned corporations such as Google. Zurich is becoming increasingly cosmopolitan with the accompanying influx of expats, without losing any of its historical heritage as a centre of culture. The sustained price rises in recent years prove that Switzerland’s regional real estate market is witnessing stable growth. For 2023, prices are expected to level out on a high. “Thanks to their stable value, residential properties in and around Zurich are a sound and future-proof investment,” says Kerstin Kühn, Licence Partner of Engel & Völkers Zurich Paradeplatz & Oerlikon, who goes on to make a recommendation: “Focus on properties in well-developed communities in suburban or rural areas that offer space to set up a home office, or, alternatively, focus on micro-apartments in the city centre.”

Captions:

Classic mansion in Wollishofen

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Located in the heart of Zurich’s Wollishofen neighbourhood, Engel & Völkers currently has this historic mansion dating from 1895 listed for sale (price on request). The property is set on a plot spanning some 2,000 square metres, with a total of 15 rooms spread over three floors. The mansion is impressive for its refined details that include original parquet flooring, restored stucco ceilings and specially made silk wallpaper. (Image source: Engel & Völkers Zurich Paradeplatz)

Exclusive freehold apartment on the Sonnenberg

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Situated on the “Sonnenberg”, this exclusive apartment is on sale for 4.3 million Swiss francs (approx. 4.4 million euros). The 2.5-room apartment is located in a building with five residential units in total. It affords state-of-the-art comforts throughout its interiors, which span 113 square metres. The property also boasts a large covered terrace and, thanks to its southwest orientation, it is ideal for owners looking to enjoy a panoramic view over the city and the surrounding vineyards. (Image source: Engel & Völkers Zurich Zurichberg)

El #FR2NCK MULLER Vanguard une la relojería de lujo suiza y la moda callejera japonesa al fusionar los elementos de cada universo, con los toques característicos de sus creadores. Esto es inmediatamente evidente en la esfera, donde la estética atemporal pero vanguardista de Franck Muller ha adquirido sensibilidades de estilo urbano. Una base de esfera blanca mate comienza estableciendo una estética de clave alta, sobre la cual se encuentran las manecillas negras, las marcas y los índices aplicados.

El aspecto monocromático de alto contraste se completa con una encantadora peculiaridad a las siete en punto. Aquí, Franck Muller ha situado el provocativo motivo Fxxking Rabbits de #FR2 en lugar de marcadores de hora, con el ojo rojo de un conejo como único punto de color en la esfera. En la oscuridad, el #FR2NCKMULLER Vanguard también ofrece un giro idiosincrásico. Super-Luminova se ha aplicado selectivamente de manera que las manecillas, los índices y el motivo gráfico del obelisco esqueletizado sobresalen de la esfera en ausencia de luz.

El diseño audaz y audaz se extiende al resto del reloj. Esto incluye la caja Vanguard en forma de tonel de Franck Muller, que se ha fabricado en un nuevo compuesto de fibra de vidrio y carbono, una novedad para la marca y que se reservará para el sudeste asiático, solo modelos exclusivos. Para crear el material ligero pero resistente, se combinan polvo de carbono y fibras de vidrio, antes de que la masa resultante se impregne con una resina adhesiva. Luego, la mezcla se hornea a 150 grados centígrados durante tres horas bajo 200 toneladas de presión, para finalmente producir un compuesto que luego se puede mecanizar en los componentes necesarios. Debido a las variaciones aleatorias en la forma en que se comprime la mezcla, cada caja de reloj ofrecerá un patrón único de estrías. El toque final aquí es la correa de nailon blanco, adornada con texto negro en un estilo tipográfico que resultará familiar para los aficionados a la moda callejera.

El trabajo de Franck Muller con #FR2 es un raro ejemplo de la colaboración del relojero suizo con marcas externas, que se ha limitado a un pequeño y selecto grupo de socios. “El fundador de #FR2, Ryo Ishikawa, no es solo una figura icónica en la escena del streetwear de Tokio”, comparte Sharon Lim, CEO de Franck Muller SEA. “Como la fuerza creativa detrás de Fxxking Rabbits, ha adoptado un enfoque multidisciplinario para las creaciones de su sello mientras mantiene un espíritu ferozmente independiente. Estos son valores en los que creemos y con los que nos identificamos en Franck Muller, lo que hace que esta exclusiva del sudeste asiático sea una colaboración natural. Por supuesto, el producto que hemos creado habla de eso”.

El #FR2NCK MULLER Vanguard es una edición limitada de 800 piezas y está disponible en el sudeste asiático y Australia desde el 6 de enero de 2023.

Acerca de #FR2

#FR2, también conocido como Fxxking Rabbits, es una creación de Ryo Ishikawa, un anciano estadista en el mundo de la moda callejera japonesa, quizás mejor conocido por fundar la marca de moda Vanquish. Tras su establecimiento en 2014, #FR2 rápidamente atrajo seguidores con su característico conejo y los motivos “Fumar mata”, así como con las audaces impresiones fotográficas de sus productos. En el camino, Ishikawa también ha diferenciado a la marca con imágenes de campaña provocativas, que él personalmente tomó como lentes, y un enfoque irónico de la moda. Desde sudaderas con capucha y cámaras desechables dispensadoras de caramelos, la marca ofrece una gama ecléctica de prendas y objetos de arte que posiblemente sean los más íntimos de Ishikawa hasta el momento.

A Piece of Your Time: What Does It Mean to Gift a Woman a Watch?

From as far back as the 16th-century, watches have been a luxury that holds far more sentimental value than merely telling the time. Today, giving a watch as a gift still contains a great deal of meaning. If that gift is from a man to a woman, it’s even more significant. 

If you’ve received one of our high-end, luxury timepieces as a gift from the special man in your life you might be wondering what it signifies. To offer some insight, we’ve outlined just some of the wonderful reasons men have bought their girlfriends, fiancées or wives a Backes & Strauss watch.

THE GIFT OF STYLE

Wristwatches have been a must-have fashion accessory since they became popular at the beginning of the 20th century. As small as they are, they say a lot about the wearer, and classic designs can complement even the most dedicated follower of fashion.

Our timepieces have been designed to be worn for decades, and tie into changing tastes in the world of what’s in vogue. When you’re given the perfect watch, you’re getting the result of careful thinking about your specific taste and lifestyle. You’ll hopefully receive an accessory that complements your overall style and makes you look that much more fabulous.

Whether it’s a streamlined chronograph or a frothy rose gold timepiece with a delicate strap, every Backes & Strauss watch has a character of its very own. Just like you do. The person who purchased your watch will have considered the essence of you, and your watch should express this.

THE GIFT OF PRACTICALITY

Even the sumptuous, diamond-encrusted, handcrafted masterpieces we create are utilitarian items. However advanced we may be technologically, people still need watches!

It’s good to stay organised, and this means keeping track of time throughout the day. But as many women can agree, it’s not always the most straight forward task to root around in your handbag to find your cellphone! A quick glance at a beautiful timepiece on your wrist is much easier and far more satisfying. Plus, it provides a subtle yet constant reminder of the special person who gifted you your watch too.

THE GIFT OF LUXURY

There’s nothing that can quite compare to unboxing a luxurious gift and Backes & Strauss makes this part of the process especially enjoyable. The sumptuousness of our designs extends into how our pieces are packaged, and we make sure every second you spend with one of our items counts!

Like jewellery, there is the exquisite suspense in sliding the box open to reveal what’s inside and then the pure joy at the thing of beauty you find. Whether it’s a birthday gift, a present for the holiday season or just because, when you gift a woman a watch, you’re also gifting her a symbol of opulence and splendour.

THE GIFT THAT KEEPS ON GIVING

Another significant metaphor that comes into play with a watch gift is that of giving someone time. This is a commodity we all wish we had more of with the ones we love. Watches can even become treasured heirlooms, handed down to the next generation of powerful women in the family to mark important milestones. In that sense, the strong sentimental value of your watch has no time limit – it is to be enjoyed for generations to come.

Wearing your new gift may even help you be more on time! After all, it elevates you and makes you look more polished and professional. This goes a long way towards readying you for the challenges you face every day.

THE GIFT OF A DAILY REMINDER

There’s nothing throwaway about the gift of a watch. After all, they’ve been carefully designed to be worn, used, and enjoyed each day. They’re also one of the only things that can be worn all the time and giving someone a timepiece means they’ll think of you more often.

A wristwatch will remind a woman of the person who gave it to her every time she puts it on, each time she looks at it during your day or night. And then once more when she takes it off before a shower, bath, swim, or to get a good night’s rest.

For betrothed couples, watches can make a poetic, romantic gift symbolising the couple’s time together. Classic timepieces are ideal as an anniversary gift as they signify the past, present and future. A man who gives you this kind of present is communicating the depth of his commitment and his abiding affection for you.

If you’re not yet betrothed and have received something of this calibre from the man in your life, it almost always means that he’s committed to you. It signifies the depth of your relationship and cements the idea that he would like to share every second, minute and hour together.

A PERSONAL, UNIQUE GIFT

What makes the perfect wristwatch such an ideal gift for women is the fact that so much care and attention goes into choosing it. You’ll treasure not only the handcrafted excellence that defines our pieces but how personally meaningful it is too. It tells you that the giver values your wants and needs and deepens your relationship with recognition of your individuality.

The gift of wristwatch shows that a lot of thought has gone into the present and that the giver is interested in you and wants to know what you like. As complex a process as this is, it’s simplicity itself and is evidence of a deep and abiding connection between two people.

Giving something as personal and meaningful as a Backes & Strauss wristwatch requires the giver to make a calculated risk because he has to understand you to buy you something you’ll love. It’s a way to establish even more of an emotional tie between a couple and is about your beloved taking a more active role in your life.

Many literal and figurative meanings can be ascribed to the gift-giving of a watch. But at the end of the day, it’s up to you to decipher what the intention is behind it. However, it’s a pretty safe assumption that if someone has taken the time to try and figure out what kind of timepiece would suit you and your needs best; he’s been hit by Cupid’s arrow!