Report: Living in 5-Star Hotel Cheaper Than Renting in Zurich

New report reveals shocking findings - staying in luxury hotels abroad may be more affordable than renting in Swiss cities. Read more.

The housing crisis in Switzerland has reached new heights in 2023, with rental costs soaring by 5 percent according to the latest data from UBS. The ongoing shortage of housing, estimated to be increasing by 10,000 homes a year, is predicted to drive costs even higher in the coming years if not addressed promptly.

A recent report from Watson has shed light on just how expensive it is to live in Swiss cities compared to taking a luxurious holiday abroad. The study compared the average monthly rental costs in Swiss cities to the cost of staying at a five-star all-inclusive resort for a month in May. Surprisingly, it was found that staying at a top holiday destination like the Kairaba Aqua Mondo hotel near Hugharda in Egypt, with all expenses included, is actually cheaper than renting an apartment in Zurich or Geneva.

While some residents of cities like Lausanne, Winterthur, and Bern may save money by opting for a beachside lifestyle, other popular holiday destinations like Greece and Turkey were found to be much more expensive for all-inclusive hotel stays. However, it is worth noting that rental costs in all other Swiss cities were found to be lower on average than a month-long holiday in Egypt.

Interestingly, the trend of "workations" is on the rise in Switzerland, with more people choosing to work remotely while on extended holidays. Holiday platforms like Hotelplan, Tui, and Kuoni have reported an increase in the number of individuals opting for workations, blurring the lines between work and leisure.

The housing crisis in Switzerland continues to pose challenges for residents, with rising rental costs making it more affordable to take a luxurious holiday abroad than to rent an apartment in Swiss cities. The trend of workations reflects a changing lifestyle where individuals seek to balance work and leisure even while on vacation.