The Swiss GDP Capital
Discover Basel's Real Estate
Situated on the River Rhine, Basel is one of the most beautiful and 3rd most populous states in Switzerland. Basel is located on the borders of Germany, France, and Switzerland. Basel is known all over the globe for its big museums. Basel is also second only to Zurich in terms of economic activity that has been driving Switzerland’s growth and development.
Culture, History, and Business
The city of Basel became a member of the Swiss Confederacy in 1501. it has since developed to an important cultural and commercial hub. The city has become the headquarters and home of many international organizations, including Bank of International Settlements, Art Basel, Basel Accords, and the famous football club FC Basel.
Basel is among Switzerland’s most dynamic economic regions. The city had an unemployment rate of 3.7% in 2016. The city’s economic sector is divided into three- primary secondary and tertiary. These subdivisions have within them nine, 1,176, and 8,908 businesses, respectively. Similarly, the number of employed people within these divisions is 18, 34,645, and 82,449 individuals, respectively.
Real Estate Appeal
The majority of the properties and real estate developments in Basel is focused on rental apartments and properties. There is a huge demand for these apartments in the city. This has led to an increase in property prices.
There has been so much demand within the city center; however, there is still some land available in the lower Basel region. This means that it is still possible for the investors to find some land in this region for constructing rental properties.
Reports have suggested that the prices for the apartments have doubled since 2000. The housing property rates are also higher in the city center and the Greater Basel region. Here you will have to spend Fr. 1,230,000 on average.
And this price has increased by around 20% in the past year. The cost of an apartment in the city center is €11,208.33 per sq. meter while outside the city center cost €9,067.83 per sq. meter.
The rents are also appreciating. The cost of renting a one-bedroom in the city center and outside the city is €1,274 and €1,102.94, respectively. Similarly, the cost of renting a three-bedroom outside the city center is €2,018. For details of why you should consider investing and the hottest neighborhoods, see our subsequent related articles.
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