On the 9 of Februar the Swiss electorate voted on the Popular Initiative ‘More affordable homes’.
The initiative calls on the Confederation and cantons to do more to encourage the provision of affordable homes for rent. It proposes that across Switzerland at least ten per cent of newly built homes should belong to non-profit developers – normally these are housing cooperatives. In order to increase the non-profit construction of homes, cantons and communes should grant themselves a right of pre-emption, i.e. the right to buy a property before anyone else can make an offer. For properties owned by the Confederation or state-owned businesses, the cantons and communes would be given a general right of pre-emption. The initiative also aims to prevent grants for energy-saving renovations being used to turn affordable homes into luxury properties at excessive prices. The Federal Council and Parliament have rejected the initiative . However, Parliament has decided to allocate extra money to the existing fund for non-profit house construction projects. The so-called ‘Working Capital Fund’ (Fonds de Roulement), which is used to grant loans, will however only receive this injection of cash if the popular initiative is rejected.
Last modification 09.02.2020