Mr Ginesta, people like living in Chur. This is shown by the few vacant rental flats and the high demand for home ownership. Why?

Sascha Ginesta, Partner Ginesta Immobilien and Head of Marketing Graubünden: Basically, we see that living in the city is actually less sought after due to the pandemic. However, we also see that the city of Chur has experienced an upswing in recent years because it has done many things right. Compared to larger cities like Zurich or Bern, Chur is not a big city. Because of Corona, a shift in the place of residence from large cities to small towns can increasingly be observed. That is one trend. Another - and it existed before Corona - is that more and more people are moving from the valleys to the city. In addition, it is not only Graubünden residents who are currently concentrating on the cantonal capital, but also people from larger cities in Switzerland. In addition, one must not forget that Chur has a growing proportion of students. What is special about the city is that it is not growing significantly further outwards. Chur has a constant supply, which in turn drives up prices. Especially when it comes to single-family homes.

What makes a place like Chur attractive?

It is the infrastructure, the shopping facilities, the transport links, the public transport, the childcare facilities, the schools, the cultural facilities, the leisure facilities and the proximity to the workplace. However, the latter need is changing due to home office options. Today it is no longer a problem to live one and a half hours away from the workplace. This has caused a shift in many regions. Chur has benefited from this. With home offices or partial home offices, workplaces in Zurich or St. Gallen are very easy to reach from Chur. Chur is also close to the large tourist regions of Arosa/Lenzerheide and Flims/Laax/Falera. This makes Chur attractive on the Swiss market.

You mentioned home ownership earlier. In Chur, it is rare and expensive. Has the need for your own property increased in recent years?

The need for property is connected with the need for possession. One wants to own something. There always has been and always will be. The pandemic has not necessarily boosted this market, much more the reason for the short-term popularity is the low interest rates. That makes home ownership attractive. It is currently effectively cheaper than renting. And it is an investment. Once you have bought a property, you are on the merry-go-round of the real estate market.

However, it should not be forgotten that the land price in Chur is over 1500 francs per square metre. Who can afford that? Has living become a luxury?

Home ownership has become a luxury, yes. If a property costs a million, that means I have to raise a quarter of my own funds. So about 250,000 francs. To be able to pay the mortgage of 750,000 francs, I have to generate an income of about 140,000 francs. That's possible if there are two of you, but it's more difficult alone. Nevertheless, the demand is great, which shows that the means are there. But of course - and we don't have to fool ourselves here - not everyone can afford home ownership. Compared to other regions, however, Chur still has moderate prices. The situation is different in Zurich.

How is the rental housing market in Chur?

This one is a bit more liquid. The offers are there, although the trend is downwards, but someone who wants to live in Chur will find a flat. But rents are also rising. On the one hand, this has to do with demand, on the other with the economic situation. Rental prices have increased, but - I dare say - not to the same extent as for home ownership.

Have the needs of tenants changed in the last two years?

Yes, the demands on living space have changed due to the pandemic. Many people had time to be at home and to deal with their own homes. For many, the situation was not satisfactory. At first we observed the trend of people moving from the city to the countryside. We had vacancies in the cities. But that has already changed again. What has also changed due to the pandemic are the space requirements. Today, an extra room for an office is an issue. That was never in demand before. The square metre requirement per capita has generally been rising slightly for a few years. The needs have effectively changed. Whether these changes are sustainable will be seen in a few years. We also used to have certain difficulties renting or selling garden flats. Suddenly these flats were in demand. Everyone wanted a garden. Because many people were dissatisfied with their housing situation in the past two years, the tenant market became more dynamic.

Should the housing offer in the city of Chur look different?

By the fact that Chur has recently had a lot of building activity, I would say that the needs are being met. Not only in the residential sector, but also in the public sector. A lot has happened in the last few years.

Sascha Ginesta: "The demands on living space have changed