Zurich First-HandCity buys 64 flats in Seebach for CHF 78.22 million
The city executive has bought a plot with twelve apartment buildings. The flats count towards the goal of making a third of all rental flats non-profit by 2050.
The City of Zurich is buying a plot of more than 10,000 square metres in Seebach with twelve apartment buildings, 64 flats and a commercial unit. The price: CHF 78.22 million. The previous owner sold two plots in Seebach through a two-stage bidding process; the city bid for both and won one.
What the city is buying
- Built in 1952; according to the city, in a condition typical for its age and mostly good.
- Mainly 3- and 4-room flats.
- Under the city’s rental rules, the estate houses at least 156 people.
- The plot has reserves: in future, at least twice today’s living space could be built.
Why the city is buying
The purchase counts towards the one-third goal (Drittelsziel): by 2050, a third of the rental flats in the city are to be non-profit, i.e. let at cost rent. The 2026 rent survey shows the difference: a typical non-profit flat costs about CHF 840 a month less than a for-profit one.
The city executive does, however, want to shrink the budget for such purchases: in the 2027 budget it falls to CHF 150 million a year, with city-owned foundations buying more instead.