My anecdotal case
Wow. In which area / city is this?
8041
More context: I invested some time investigating co-ops in Kreis 2. Mine keeps a building-specific waiting list. I was able to pick a building with a realistic chance of moving in as an “outsider” based on their public annual reports.
Edit: More recent annual reports no longer contain information about “interne Wechsel” vs. “externe Wechsel” by property but checking for this kind of stuff can still prove useful.
Here’s my anecdotal case, also in 8041 Zurich (Manegg):
on the waiting list of all Genossenschaften since 2020
until 2024 didn’t even get invited to Besichtigungen (open door walkthrough)
since 2024 being invited to Besichtigungen, but our applications were rejected before going to the appplication board (Vergabekomission) due to us being relatively “new” (only 4 years) on the waiting list
Most likely by 2028 our applications will reach the application board and by 2032 we’ll have a decent chance of actually getting an apartment with a Genossenschaft.
Here’s another anectodal case, also from 8041 Zurich (Manegg):
Person A ist in the Vorstand with Genossenschaft X (which has 1 building in Manegg), but lives in another building, which belongs to Genossenschaft Y
Person A’s family increases (child is born) and “magically” gets accepted for a bigger apartment in Genossenschaft Z (also having 1 building in Manegg)
The main difference between the 1st and the 2nd anecdotal cases is the amount of “connections” the persons involved have in the Genossenschaften around a certain neighbourhood.
Now, do I know for sure that there are some fraudulent practices involved with gettting an apartment with a Genossenschaft?
No
Does the anecdotal evidence reek of corruption and/or nepotism?
Hell yeah!
If one searches in Google “Genossenschaft Korruption” or “Genossenschaft linker Filz”, one might be suprised what respectable newspapers like the NZZ, the Tagesanzeiger and others have written about this.
It’s a fact that Zurich (and maybe other cities as well) has a 2-tiered residential real estate market:
the “free” market which is available for everyone that can afford it and
the “not so free” market, which, at least sometimes, maybe, just maybe, involves some “informal” criteria in order to be accessed.
Just my 2 cents..
It is actually smart to pay 0 interest on the buy-in (Genossenschaftsanteil). These buy-ins usually correlate with the rent (more expensive flat, higher buy-in). If the Genossenschaft pays an interest to the buy-in, this money is basically coming from rents, it is taxed in the Genossenschaft and it is taxed as income when you receive it.