Lichtensteig: Residential development planned

According to the St. Galler Tagblatt the development is to be built on a plot of land above Loretostrasse in Lichtensteig in the Toggenburg region of Switzerland. Currently, there are still commercial buildings on the site.

According to the building application, five three-story apartment buildings with a total of 38 rental and owner-occupied apartments are planned. According to the information, the five buildings enclose an inner courtyard where a playground and seating areas are planned. The development will also include an underground parking garage with 60 spaces. The apartments will have 2.5 to 4.5 rooms and will range in size from 74 to 130 square meters.

It is further stated that a construction period of around two years is estimated. The construction costs will amount to CHF 10.2 million.

The St. Galler Tagblatt points out in its report that, according to figures released by the Federal Statistical Office in June 2018, the vacancy rate in Lichtensteig is 4.8%. According to Robert Weinert, Director at Wüest Partner, a longer marketing period for rental apartments is to be expected. In terms of residential property, however, Toggenburg is attractively priced compared to Appenzell Innerrhoden or the Linth region, for example, Weinert told the newspaper, which is why there is definitely potential for condominiums. (ah)