The small real estate miracle

On the Zurich real estate market is like in the gym: If a for the first Time is a difficult gymnastic exercise is, it could be a coincidence. The second Time, more needs to be tuned. The Free explains the Pride in the face of Urs, President of the Zurich Baugenossenschaft Zurlinden, while he caresses a folder with pictures of five properties. All houses in Zurich, the most expensive locations across the country, and they all belong to recently held cooperative.

The Zurlinden has done it again. Around the turn of the year, you had reported that you have bought a Private in Zurich-Altstetten 51 apartments. Now 74 apartments from the Portfolio of a pension Fund. You are in Altstetten, Neuaffoltern, Witikon, and even on the zürichberg. For Free an occasion to place his own theorem about the real estate market: "the Big will not eat the Small but the Fast the Slow."

a total of 125 apartments make up just half a per Mille of the total housing stock in Zurich. So you could say: hardly worth mentioning. But the sale of capital companies, institutional investors, or Private non-profit housing cooperatives is of particular importance when it comes to the so-called third goal.

arms race on job sites

Since the city decided in Zurich Voters that by the year 2050, a third of all housing non-profit is supposed to be, co-operatives and profit-oriented real estate company to an arms race on the construction sites. Both walls in the chord, wherein the one side is at the front, sometimes the other. In 2017 every second of 2600 new housing was a non-profit, in the previous year, however, only every sixth. Therefore, it is doubtful whether it comes with a Bauoffensive the third goal really closer – in the last survey in 2016, up to six and a half percent were missing the non-profit, depending on the method of counting points.

If, however, apartments from Private transferred to cooperative building societies, that counts for a third of the goal twice. Because when one is eliminated, and what comes out the other. The 125 new dwellings of the Zurlinden, their weight is proportionally as much as 250 apartments. The success of the cooperative on the market is also noteworthy, because such sales in Zurich are rare. On average, only about nine plots of land were last per year to non-profit cooperatives. Or in terms of area is about 11000 square meters spoken:, which corresponds to one and a half football fields. The Zurlinden has exceeded this average in the last three months with almost 13000 bought in square metres alone.

This has to do, according to the President, Urs also so that his cooperative with 1800 homes one of the largest in the Canton, but not the stereotype. In the public perception, the left is dominated by alternative projects, such as the lime width: associations of tenants, which is "more than Living". The approximately 50 members of the Zurlinden, however, are entrepreneurs in the construction industry. You are the garden, builders, Kitchen designers, plasterers – Free self-the window factory Albis headed long reed-bed.

houses create working

The cooperative is a source of income, because there is to do in the many houses again and again, and you can apply for this Work. Their Motivation is not economic in nature, ideological. You have made the scene a name, because they work with innovative construction to the 2000-Watt society, ticking but politically rather civil.

The unusual composition has the consequence that the tenant have the inside and the tenants have no say in the matter, for it makes the cooperative flexible – and benefited from your recent purchase. In General, cooperatives are able to buy because of the overheated real estate prices, only then the houses when the sellers are specifically looking for such a solution. Ten objects in the city changed in the last few years, the Hand, including the one in Altstetten, which went three months ago to the Zurlinden.

In the current case, it was but a normal real estate agent who sold the five real properties on behalf of a pension Fund. He came to the Zurlinden cooperative, was not only due to their good contacts in the construction industry. "The broker also knew that we can handle the business quickly," says Frei.

your bid of 42.5 million Swiss francs was not the highest. Other interested parties, including institutional investors, were able to offer more. The cooperative benefited from the fact that the pension Fund caused by the previous tenant, because it was part of the long-time employee of the company. After two months, the Deal was sealed.

Unusual way

The only catch: The price is from the point of view of the cooperative's good, but he is not because of the overheated market environment, however, so high that it goes without a ten percent increase in the rents – either now, or in the case of tenant change. This, despite the Zurlinden surgery, like all non-profit cooperatives with the cost of rent. You may request only as much as to cover costs and maintenance is necessary.

The cooperative is treading, therefore, an unusual way, as with your last purchase: you requested the town a contribution for Depreciation – a financial assistance for the purchase, which would allow her the previous rent level to maintain.

so Far, the city, such contributions may be granted only to its own Foundation for affordable Housing, the PWG. This receives for your home purchases annually up to 5 million Swiss francs – their properties are credited't even answer the third objective.

The Zurlinden as an active home buyer would like to change that. You are probably coming too early. The city Council and a proposal is pending that requires a Fund with the nonprofit Housing developer in the purchase of houses to be supported. The city Council is open to the call he has for the implementation until the middle of 2020. The impulse came from the Red-and-Green, not the FDP, though this would require the construction of learning, the Zurlinden cooperative politically. The Bourgeois fear that such a Fund works to drive prices upward. They would emphasize urban depreciation contributions most of all.

(Tages-Anzeiger)

Created: 11.03.2019, 21:48 PM