City of Zurich: Residential construction activity remains high
New construction activity in the city of Zurich remained at a high level in 2016 with 2,995 apartments. While fewer cooperative buildings were constructed, private companies completed twice as many apartments as in 2015.
At the same time, more apartments than ever before were demolished in Zurich last year, with 1,329 units. "This suggests a continued high level of construction activity for the next few years," writes the city of Zurich in a statement.
The 2,995 housing units completed represent a decrease of 215 units compared to the previous year, which saw the strongest housing construction since 1953. The citywide housing stock increased by 1,893 apartments in 2016.
In the city of Zurich, 84 percent of new housing was based on replacement projects, of which just under half were conversion projects and a good third were housing replacement projects. Since such projects are preceded by demolitions, more and more apartments are being demolished. At 1,329 units, this figure was higher than ever before last year.
Large projects in circle 9
The net increase in apartments in 2016 was largest in District 9, with 1,122 apartments, where 40 percent of all new apartments were built. This was mainly due to the major Freilager project, the City of Zurich reports. In addition to the 829 apartments in Freilager in Albisrieden, 221 retirement apartments were also built in Altstetten. In the districts 2, 7, 8, and 12, however, more apartments were demolished than completed.
Private companies built the most new apartments in 2016 (67%). In contrast, building cooperatives (11%) completed fewer apartments in 2016 than in recent years. The share of new apartments in condominium ownership (9%) was also lower than in previous years.
