Living and investing in Switzerland
Everything you need to know about living and investing in Switzerland as a foreigner
With the highest salaries in Europe, Switzerland offers a high standard of living, but it comes with significant costs. Discover everything you need to know to budget effectively and live comfortably in Switzerland.
Switzerland is renowned for its breathtaking natural beauty and alpine lifestyle, but it is also known for being highly expensive.
However, higher costs come with greater rewards: a superior standard of living.
With some of the highest salaries in Europe, exceptionally low crime rates, outstanding healthcare, and its status as a global leader in finance, science, and technology, it’s no wonder Switzerland is a popular expat destination.
Living comfortably in Switzerland isn’t difficult, as residents enjoy the highest salaries in Europe, earning an average of CHF 80,000 annually (~ $88,000) in 2024, according to international consultancy firm Willis Towers Watson.
After tax, the average person living in Switzerland receives a monthly net salary of $5,900, which ensures a decent lifestyle.
The average wages elsewhere in Western Europe seem much lower in comparison, with people in France ($39,000), the UK ($34,200), and Spain ($30,000) earning considerably less.
However, it’s a fact that Switzerland remains the most expensive country to live in Europe, so be prepared to pay two to three times more for services than in Italy or France. For example, you’ll need to cover expenses for insurance, rent (if applicable), utilities, and transport, which might set you back CHF 3,500-4,500 (~ $3,850 - 4,950) per month.
Therefore, to live comfortably in Switzerland (depending on the city), you should have at least CHF 4,500-5,500 in monthly income. If you're a family of four, expenses will increase, as detailed below.
Switzerland is renowned for its picturesque landscapes, but the cost of renting or purchasing property is notably high.
According to Numbeo, Zurich ranks among the most expensive cities globally, with several other Swiss cities also featuring prominently. Consequently, it's crucial to budget carefully when considering housing in Switzerland.
In popular expat destinations such as Zurich, Geneva, and Bern, renting a one-bedroom apartment in the city center averages around CHF 1,650 (approximately $1,875). In suburban areas, the average rent decreases to about CHF 1,300 (approximately $1,476).
For a family of four, monthly rents typically range from CHF 2,500 to 3,500 (approximately $2,841 to $3,977). However, in tourist hotspots like Zermatt or St. Moritz, rents can be higher, averaging around CHF 3,800 (approximately $4,318) per month.
Due to high demand, landlords often require a security deposit equivalent to three months' rent upfront.
The cost of purchasing property varies between city centers and suburban areas, as well as across different cantons. For instance, the average price per square meter for an apartment in the city centers of Zurich or Geneva is CHF 10,819 (approximately $12,285). In suburban areas, this average drops to about CHF 5,409 (approximately $6,142). Overall transaction costs are typically around 3.7% of the property's price, and buyers should be prepared to make a 20% down payment.
Note: Currency conversions are based on an exchange rate of 1 CHF = 1.1366 USD
Expense | Average cost (CHF) | Average cost (USD) | Notes |
---|---|---|---|
Monthly rent (1-bedroom in city) | 1,650 | 1,875 | In popular expat cities (Zurich, Geneva, Bern) |
Monthly rent (1-bedroom outside city) | 1,300 | 1,476 | Average rent in suburban areas |
Monthly rent (family of four) | 2,500-3,500 | 2,841-3,977 | Rent for a family of four in urban areas |
Monthly rent (tourist areas) | 3,800 | 4,318 | For areas like Zermatt and St. Moritz |
Deposit (for renting) | 3 months' rent | 3 months' rent | Typically required upfront |
Property price per m² (city center) | 10,819 | 12,285 | Average cost in Zurich and Geneva city centers |
Property price per m² (suburbs) | 5,409 | 6,142 | Lower cost in suburban areas |
Overall transaction costs | 3.7% of property price | 3.7% of property price | Additional cost when buying property |
Deposit for buying property | 20% of property price | 20% of property price | Upfront deposit for property purchase |
Residents should budget approximately CHF 220 (~$250) per month for utilities (including electricity, heating, water, and gas) for an 85-square-meter apartment. This estimate excludes internet, which typically costs around CHF 60 (~$68) monthly.
Transport in major Swiss cities is relatively affordable. For example, a monthly public transport pass (valid on trams, trains, buses, and ships) costs approximately CHF 98 (~$111). This is about 43% less than the equivalent in London (£143.50 or ~$180).
While public transport is cost-effective, owning a car can be expensive. Fuel costs around CHF 1.85 per liter (~$2.10). Additionally, you'll need to pay for cantonal taxes, parking permits, and car insurance, making the cost of owning a car about 30% higher than in other European countries.
Food in Switzerland is of high quality, featuring world-famous chocolate and cheese, but it comes at a price. For one person, expect to spend an average of CHF 450 (~$511) per month on groceries, depending on whether you buy meat and which supermarket you choose.
The two main supermarkets are Migros and Coop, with Coop being around 10% more expensive. Migros is popular for its self-owned brands. Hard-discounters like Lidl and Aldi are the cheapest, while Manor and Globus are the most expensive supermarkets. For a family, expect to spend at least CHF 1,000 (~$1,137) on food.
Dining out varies in cost. A set lunchtime menu typically costs approximately CHF 22-32 (~$25-36) per person. Fast food options, like a McMeal at McDonald's, are around CHF 13 (~$15).
For a three-course meal for two at a mid-range restaurant, expect to pay around CHF 120-150 (~$136-170), averaging closer to CHF 70 (~$80) per person.
After your meal, if you're seeking entertainment, cinema tickets cost around CHF 20 (~$23) per ticket. Visiting art exhibitions and museums ranges between CHF 10-15 (~$11-17), with many galleries offering free entry on certain days.
To stay active, a no-frills gym membership costs around CHF 80 (~$91) per month.
Expense category | Description | Cost (CHF) | Cost (USD) |
---|---|---|---|
Utilities | Electricity, heating, water, gas (85m² apartment) | 220 | 250 |
Internet | Monthly internet fee | 60 | 68 |
Transport pass | Monthly public transport pass | 98 | 111 |
Fuel | Cost per liter | 1.85 | 2.10 |
Food | Monthly groceries (1 person) | 450 | 511 |
Food (family) | Monthly groceries (family) | 1,000 | 1,137 |
Lunchtime menu | Average cost per person (set menu) | 22-32 | 25-36 |
McDonald's meal | McMeal (fast food) | 13 | 15 |
Mid-range restaurant meal | Three-course meal for two | 120-150 | 136-170 |
Cinema ticket | Ticket for one movie | 20 | 23 |
Art exhibitions & museums | Entry fee | 10-15 | 11-17 |
Gym membership | Monthly fee for a no-frills gym | 80 | 91 |
Total estimated costs (1 person) | Combined cost of utilities, food, transport, etc. | 1,940 | 2,204 |
For parents of preschool-age children, you can expect to pay approximately CHF 2,219 (~ $2,337) monthly for a full-day private nursery or kindergarten. To put a child in a crèche, working parents can expect to pay CHF 2,000 (~ $2,120) a month. To keep costs down, you might consider hiring an au pair, but remember that Swiss law limits them to working no more than six hours per day.
State education in Switzerland is world-renowned for being excellent, but although it is free, there is a catch for expats: children will need to speak one of the official languages of the canton where the school is located (either French, German, Italian, or Romansh). Lessons are taught in that language.
Bilingual Swiss schools do exist (the main canton language plus English) and can have annual fees up to CHF 25,000 (~ $26,500) per child.
The other alternative is the ultra-competitive international schools. These private schools follow curriculums in the native language and cost anywhere from CHF 25,000 to a staggering CHF 100,000 (~ $26,500 to $106,000) per year.
Just like the heavy snow that regularly falls in the Swiss Alps, healthcare is pristine and perfect. There’s no need to worry about waiting lists: highly qualified doctors and the best-equipped medical facilities money can buy are available here.
This is because everyone living in Switzerland is required to have basic health and accident insurance to use the universal healthcare system. Many people also choose to take out supplementary health insurance. Expect to pay around CHF 330 (~ $350) for your health insurance per month. Add the same amount for each family member, except for children under 18 years old, for whom the insurance fee is CHF 100 (~ $106) per month.
Expense category | Monthly amount (CHF) | Monthly amount (USD) |
---|---|---|
Full-day private nursery or kindergarten | CHF 2,219 | $2,337 |
Crèche (for working parents) | CHF 2,000 | $2,120 |
Health insurance (for one adult) | CHF 330 | $350 |
Health insurance (for each additional adult) | CHF 330 | $350 |
Health insurance (for children under 18) | CHF 100 | $106 |
Bilingual swiss schools (annual fees) | CHF 25,000 per year | $26,500 per year |
International schools (annual fees) | CHF 25,000 to 100,000 per year | $26,500 to $106,000 per year |
Total monthly (for 1 adult and 1 child under 18) | CHF 2,649 (approx) | $2,812 (approx) |