An advertisement for an apartment in the city of Zurich has taken the internet by storm, after the property was listed for 5.350 francs a month. The Zurich Tenants’ Association has condemned the listing, calling it “extremely overpriced.”

Small flat in Zurich listed for 5.350 francs a month

According to 20 minuten, the listing was for an 87-square metre, two-room apartment (with a terrace) near Helvetiaplatz in the busy Langstrasse district (District 4) of Zurich. Real estate agents described the flat as "urban modernity with classic charm." The move-in date was set for October 1.

Once the listing was posted, users on social media baulked at the price, quoted at the time as 5.350 Swiss francs a month. “That shouldn’t be possible,” said one Facebook user, with another noting that the monthly price was twice their salary. “With room service, three hot meals a day and a Netflix subscription?” one user joked.

Tenants' association: Apartment is extremely overpriced

"Although the building was extensively renovated, the rents in this noisy location are extremely overpriced," noted the Zurich Tenants’ Association’s Walter Angst. Speaking to 20 minuten, he said that slightly more than "60 francs per square meter per month” was a price better suited to a property on the moon, not District 4 of Zurich.

It comes as the Swiss Tenants' Association revealed that people who rent a house or apartment in Switzerland are paying up to 14 billion francs too much a year. Housing is also in short supply, with the Statistics Office of Zurich revealing that the city only had 161 apartment listings on June 1, 2022. 

Angst claimed that rents in District 4 are now 1.000 francs a month higher now than they were in 2020. “Many wealthy households and expats are thronging to the centre. This increases prices,” he noted.

So far, the real estate company responsible for the listing is yet to respond to the allegations made by the tenants' association.