Implications change Eigenmietwert in ZH

As you know there will be a change of Eigenmietwert in ZH coming up in 2026. According to this article (cash.ch) an increase is expected mainly for newly build apartments/homes.

Worth to check: interactive map by ZKB: https://zkb.maps.arcgis.com/apps/webappviewer/index.html?id=b1b5d4d4d3f243e395e0a3707e864b75

5 Likes

I took a look but am confused by the arrows and colors. Some of them are downwards blue and if you click on it it says "Eigenmietwert deutlich sinkend), but if you compare the value before (bisher) vs. new (neu), the new value is still ~6x as high as the old value.
Am I missing something or is this color/arrow coding bullshit?

I would be very surprised is anywhere there would be reduction

Real estate in Switzerland has increased significantly over the years , so everyone should be getting an increase

It’s about effective rent that you save, not about the value of the property.

But isn’t it based on certain percentage of value of property?

So how do you actually get to these two outcomes below?
They are both in the same area (hence the same Lagewert), but one has the Eigenwert going down and the other one going up.

That would imply that the one that goes down you could get less rent when renting it out in 2026 than before the change, even though the overall area value increased, correct?


They have much more details in their blog article (German) https://www.zkb.ch/de/blog/immobilien/neue-eigenmietwerte-im-kanton-zuerich.html

There are two factors, one is the value of the land (which has increased everywhere) and the second factor is that the deduction based on the age of the house can now be more (before it was max 30 years and calculated until 2009, new will be max 40 years and until 2026).

So in 2024 a house from 1990 could only deduct 19 years, with the new it will be able to deduct 36 years.

1 Like

Agreed, that’s a confusing way to show it.

You can find ZKB’s own explanations here, including some examples.

Basically, imputed rent is a mix of land and building value. Land value generally goes up, whereas building value might go down due to additional years of depreciation. Hence you have these blue arrows that in sum go down, even though the land value goes up a lot.

edit: tarioch beat me to it by a few seconds. I’ll leave it here, anyway :wink:

2 Likes

Wow
They have prepared a chart including age of property. I thought it was only the gemeinde. Impressive work

1 Like

Thanks to both of you! @Brndete and @tarioch

I read the blog and it clarified most things.
What I still find interesting, is how the Eigenmietwert is somewhat detached from the situation of the real market rent of available rental property in Zurich City. The Eigenmietwert should in theory represent 60-70% of market rent. A reduction in the Eigenmietwert (for 16% in Zurich) would also mean that the real market rent of these property would have gone down.

Assumed (!) the rental properties are similar (age, location,…) to those that are owned, then that would mean you would find at least 10% of rental property today where you pay less than in 2009. Where are those? :smiley: