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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)

Rimac Nevera Takes the Hypercar Market by Storm

Rimac Nevera Takes the Hypercar Market by Storm

June  2021 – ZAGREB, CROATIA –Today, hypercar manufacturer and electric technology specialist, Rimac Automobili, unveiled the production version of the C_Two, now becoming the Nevera, an all-electric, 1914hp, 258mph, €2m hypercar designed and engineered to unleash an unprecedented level of performance.

The Nevera is the production-ready iteration of the Rimac C_Two concept car, which was revealed at the International Geneva Motor Show in 2018. Since then, Rimac’s engineers have refined their new flagship on every level during an extensive development program, in the pursuit of the ultimate electric hypercar driving experience. With the majority of key components of the Nevera developed in-house at Rimac’s HQ in Croatia, all systems have been improved and enhanced since the initial prototypes to deliver on the ambitious performance targets set for at the beginning of the project in 2018.

Rimac Nevera: Dare to Feel

“This is it. This is the car I had in mind when I embarked on the ‘impossible’ journey ten years ago. All our hard work has resulted in the Nevera – our record-breaking hypercar. This car was born to outperform, and to raise the bar, redefining the norm for performance cars. And not only in performance – but as an all-around package.

When we first revealed the C_Two, we set our targets extremely high. There was nothing else that could even come close to matching the car’s cutting-edge electric powertrain and extreme performance. But for us, that was only the starting point,” explains Mate Rimac, Founder and CEO of Rimac Automobili.

“Everyone at Rimac is driven by curiosity and a desire to push things to the absolute limit. With its combination of everyday use and 1914hp performance, the Nevera proves what is possible when there are no restraints placed on technology, development, or ambition. We have now unveiled a car that pushes the hypercar market to a higher level, we have utilized the full potential of the electric powertrain today, proving what we’ve always been saying – that electric hypercar, in the form of the Nevera, is beyond exciting, and that is as thrilling on the track, as it is cosseting crossing continents.”

“We will be making just 150 examples of the Nevera, every single unit crafted in Croatia from passion and admiration for cars.”

Underlining his own commitment to the project, Mate Rimac will personally test and sign off each of the Neveras, before they are delivered to customers from the company’s current production site on the outskirts of Zagreb, Croatia.

Fittingly, the Nevera bears a proud Croatian name and one that truly reflects the prodigious performance the car can unleash in the blink of an eye. The name given by the locals to a quick, unexpected and mighty Mediterranean storm, that races across the open sea off Croatia, a nevera is extremely powerful and charged by lightning.

Appearing with exceptional speed and potency, Rimac’s next-generation hypercar shares the Nevera’s name and looks set to leave a similarly disruptive effect on the global hypercar market. And, like the force of nature it is named after, it is just as adept at transforming its character in an instant – from assured and comfortable grand tourer to ultra-focused performance machine.

Rimac favors lean and effective engineering at every stage, and that philosophy is exemplified in the form-follows-function nature of the Nevera’s timeless, elegant design. It is applied to every single detail, including Rimac’s signature ‘cravat’ feature, which is incorporated into its flanks.

“Since the 17th Century, the necktie has provided a symbol of Croatian strength and identity, and we first paid tribute to it on our Concept­_One hypercar in 2011,” reveals Rimac Director of Design, Adriano Mudri ‘And, like every element of the car’s design, it is there to provide a key function of the Nevera’s performance, serving as an air intake for the rear cooling systems.”

A comprehensive raft of changes to the Nevera’s bodywork, air diffusers and intakes has delivered a 34 per cent improvement in aerodynamic efficiency over the early prototypes­. The profile of the bonnet, the shape of the pillars and the design of the diffusers, splitters and radiators have all been intensively analysed and refined to improve airflow and downforce. Inlets and cooling channels have been painstakingly developed to increase the cooling efficiency of both the brake and powertrain systems, resulting in a 30 per cent improvement at low speeds and a seven per cent enhancement at high speeds.

Rimac has also created numerous new innovative active aerodynamic elements to elevate the Nevera’s cooling, performance, stability, and efficiency abilities. The front bonnet profile, underbody flap, rear diffuser and rear wing can each move independently, driven by complex algorithms that provided the optimum aerodynamic configuration for every driving situation. Switching from ‘high downforce’ to ‘low drag’ mode reduces aerodynamic drag by 17.5 per cent to create a 0.3 coefficient of drag. Changing back into ‘high downforce’ mode increases downforce by 326 per cent.

Despite incorporating a wealth of active aerodynamic elements, as well as many cameras and sensors that enable the Driver Coach feature, the Nevera’s body design remains a coherent graphic. It combines both the drama and beauty of a hypercar and appears simultaneously shaped by the air and forged with technology. The stunning butterfly doors elegantly carve away from the car’s wide sill as they open, creating a generous space for ease of entry and egress.

Lightweight, forged alloy wheels feature a unique aerodynamic design that channels cooling air to the Brembo carbon-ceramic braking system and ensures smooth airflow down the car’s flanks.

World’s most advanced monocoque construction

Nevera’s groundbreaking monocoque, developed by the former C_Two Chief Engineer Daniele Giachi, includes a bonded carbon roof, integrated structural battery pack and rear carbon subframe, is forming the largest single carbon fibre piece in the entire automotive industry. Weighing less than 200kg and utilising 2200 carbon fibre plys and 222 aluminium inserts, the monocoque encases the car’s battery to form a compact yet incredibly strong structure with a torsional stiffness of 70.000 Nm/degree. The level of unmatched strength and safety this provides has contributed to the Nevera meeting strict global homologation standards, and delivering the most rigid structure of any car ever made.

Driving the future

The key to the Nevera’s exceptional performance is Rimac’s pioneering electric powertrain. Every component of the Nevera’s electric powertrain has been exhaustively reworked since its inception to deliver more torque, greater performance and enhanced efficiency.

The unique H-shaped, liquid-cooled, 120kWh, 6960-cell battery was designed from scratch by Rimac and sits at the very heart of the Nevera. Capable of producing 1.4MW of power, the Lithium/Manganese/Nickel battery also forms an integral part of the car’s core, adding 37 per cent structural stiffness to the carbon fibre monocoque. The battery’s optimum positioning low and central within the car’s floor contributes to an ultra-low centre of gravity. This helps create an excellent 48/52 front/rear weight distribution and the best possible handling balance.

Developments of the advanced battery cooling system have made it even more efficient since the introduction of the C_Two, enabling more power to be delivered for greater periods. Four bespoke surface-mounted permanent magnet motors drive the Nevera’s four wheels individually. Together, they enable 1914hp and 2360Nm of torque, which is triple the output of a ‘conventional–engined’ supercar. The front and rear wheels are each connected to a pair of single-speed gearboxes.

Capable of instantly summoning maximum torque from the first moment, the Nevera’s electric motors are 97 per cent efficient – compared with 40 per cent for the most effective internal combustion engines – and completely maintenance-free throughout their operating life.

Out of this world acceleration – beating the ambitious targets

With the ability to sprint to 60mph in 1.85 seconds and continue the acceleration all the way to a 412 km/h (258mph) top speed, the Nevera opens up a new dimension in hypercar performance. Accelerating from rest to 161 km/h (100 mph) requires just 4.3 seconds and it maintains its eye-widening acceleration throughout a full-throttle cycle, achieving 186mph (300 km/h) from rest in 9,3 seconds, shredding a whole 2,5 seconds from the initial targets. Finally, it achieves a record-breaking 8,6 seconds quarter-mile time.

Perfect power delivery, impeccable stopping power

Rimac’s All-Wheel Torque Vectoring 2 (R-AWTV 2) system replaces traditional Electronic Stability Program and Traction Control systems to further bolster grip and traction. Meanwhile, the Nevera’s R-AWTV 2 system enables infinitely variable dynamic responses to road and track conditions by calibrating the amount of torque supplied to each wheel. R-AWTV 2 calculates the precise level of torque to channel through each wheel for ultimate stability and exceptional agility. Both predictive and responsive, R-AWTV reads the road and makes over 100 calculations per second to tailor the level of torque to achieve the desired driving style.

“Our torque-vectoring enables new level of drivetrain calibration,” explains Miroslav Zrnčević, Rimac Test and Development Driver, and depending on the driving mode selected, the R-AWTV 2 technology can enable the Nevera to be drifted sideways or provide optimum levels of all-wheel-drive grip, traction and safety – no matter how challenging the road and weather conditions.Thanks to a four-individual-motor drivetrain, the driver can also change the torque distribution, and personalize the performance delivery even further, for a completely bespoke drive – ranging from front to rear wheel drive biased car. ”

The Nevera is also equipped with cutting-edge braking technology. A complex electro-hyrdaulic brake booster with brake pedal feel simulator distributes the braking force between the friction brakes and electric powertrain, depending on the battery, powertrain and brake state. For instance – it dissipates kinetic energy through the friction brakes if the battery is close to its thermal limits, or activates more regenerative braking in case the friction brakes are hot. All those transitions should remain in the background, not noticeable to the driver. This enables the Nevera to make the highest use of regenerative braking of any other car on the market now. In addition to a maximum range-enhancing regenerative braking of 300 kW provided by the electric motors, substantial stopping power comes from 390 mm Brembo CCMR carbon-ceramic brake discs and six-piston callipers. Combined they provide consistent, fade-free and exceptionally powerful braking, even when the car is subjected to extreme forces on the track.

Double wishbone suspension with electronically controlled dampers and active ride height adjustment provides a combination of a smooth and comfortable ride, exemplary body control and ultra-agile handling.

Further emphasising Rimac’s technology-first approach, the Nevera utilises the very latest electric power steering with steer-by-wire function, enabling adaptive driver-feedback, depending on the drive mode. Additionally, it works as a drive-by-wire system when in Driver Coach mode to demonstrate optimum racing lines and vehicle control to the driver.

Rimac’s versatile and responsive R-AWTV 2 system enables drivetrain calibration for the Nevera to facilitate any driving style through seven different driving modes.

For a truly engaging drive on the road, SPORT mode sharpens the response of the throttle, brakes, suspension and steering, while DRIFT mode supplies more torque to the rear wheels to accentuate oversteer and help hold the car in a controlled power slide on the track. COMFORT mode strikes a perfect balance between a relaxing ride, efficiency and driving pleasure, while RANGE mode enables the Nevera to achieve maximum mileage from each battery charge. In expert hands, TRACK mode sets the Nevera to full, unrestrained configuration to help drivers exploit the car’s full potential. Finally, two CUSTOM modes enable drivers to access their personal, pre-selected performance characteristics.

World’s first AI Driving Coach

To enable drivers of all abilities to extract maximum performance from the Nevera and help them further develop their track driving skills, Rimac has developed the world’s first AI (Artificial Intelligence) Driver Coach. Adding a new, immersive dimension to the driving experience, Nevera’s Driver Coach evaluates performance and provides guidance to optimize and enhance the driver’s on-track performance.

By accessing 12 ultrasonic sensors, 13 cameras, 6 radars, and the very latest NVIDIA Pegasus operating system, the Rimac Driving Coach adds an additional, immersive experience behind the wheel. The system overlays selected race circuits in real-time, offering clear and precise audio and visual guidance, to enable drivers to perfect their racing lines, braking and acceleration points and steering inputs.

The Driver Coach feature will become available in 2022 and launched via over-the-air upgrades to already delivered Nevera cars whose hardware is ready for this unique feature.

Minimalist design cabin, maximum comfort and control

With space for two occupants in full race regalia and their luggage, Nevera is as much a capable grand tourer as it is a performance hypercar. Digital screens soak up needless toggles and switches, leaving only essential tactile controls, giving more space to enjoy Nevera’s carefully designed interior.

The cockpit features a trio of high-definition TFT screens, which present as much, or as little, information as the user requires. Configured for both track driving and comfort, the layout of the cockpit is divided into two zones. The focus of the top segment is entirely placed on driving pleasure and performance, while the lower part houses the infotainment system, comfort controls and driving data.

Tactile billet aluminium rotary controls and switches – including three displays with rotating control – provide a resolutely analogue feel, tailored to enable the driver to utilise the cutting-edge digital technology in an even more engaging manner. From the cockpit, the driver can monitor every aspect of the car’s performance with real-time telemetry – downloadable to a laptop or smartphone for later review.

Connectivity and Mobile App

Rimac M2M system delivers a wealth of real-time data to the manufacturer as well as the owner. While the user is connected to the vehicle through our intuitive mobile app, the manufacturer receives anonymised performance data.

Using intuitive mobile applications developed in-house at Rimac, Nevera owners can track live data, such as GPS location, charging speed and battery status while also using it to analyse driving performance, metrics and map previews on Android & iOS.

Near-unlimited personalisation programme

No two Neveras will leave the Rimac factory looking the same or bearing the same specification, thanks to customers’ ability to choose from a comprehensive range of bespoke trims and material options. In addition to the company’s premium individual personalization program, Rimac will offer its flagship in various editions: GT, Signature, Timeless or the customers can choose to go Bespoke.

Ultimate customer experience

As part of the customer journey, each Nevera owner will be invited to Croatia to design his or her car to their exacting requirements. The Nevera itself will be exclusively available through Rimac’s global dealer partners network, taking in 19 sites and many of the world’s major cities across Europe, North America, Latin America, Europe, Middle East and Asia.