Switzerland is known for its cheese, chocolate and watches. Nevertheless, there’s one sector that’s a lot much less within the limelight, however is equally necessary to the nationwide economic system: actual property. In a report printed this Tuesday by the Confederation, we discovered particularly that its contribution to GDP is 11%. Moreover, if we add the rental earnings and rental values of these households, this share will increase to 16%.
Total, the Swiss actual property inventory consists of roughly 2.8 million buildings, with an estimated worth of three.1 trillion francs, with a complete space of greater than 1.1 billion sq. metres. Nevertheless, the distribution of those constructions could be very uneven, as one third of all buildings within the nation are concentrated in solely three cantons: Bern, Zurich and Aargau.
Total, taxes associated to actual property usher in roughly 17.4 billion francs. That is equal to 11% of tax revenues in Switzerland. Moreover, this sector represents 14% of all jobs in our nation, or 592,000 full-time equivalents. In the end, gross worth creation attributable to actual property grew by 23% between 2011 and 2021, whereas development for the whole economic system over the identical interval was 17%.