Expats fuel the boom Gold Coast is now suddenly cheaper than Pfnüsel Coast
The left bank of Lake Zurich has overtaken the Gold Coast in terms of real estate prices. The boom on the so-called Pfnüselküste is largely fueled by wealthy expats, mainly from Germany.
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- For a long time, the right bank of Lake Zurich, with municipalities such as Küsnacht, Zollikon and Erlenbach, was considered the most expensive area on Lake Zurich.
- Because the sun shines longer there than on the opposite shore, the region is known as the Gold Coast.
- Recently, however, according to a media report, the most expensive properties on Lake Zurich are on the opposite shore - on the somewhat disparagingly named Pfnüselküste.
The left bank of Lake Zurich, long considered the less prestigious, has overtaken the right bank - the Gold Coast - in terms of real estate prices. This development is being driven primarily by demand from expats and brisk construction activity in the region, as reported by Blick. In Kilchberg, one of the most sought-after communities on the often disparagingly named Pfnüsel Coast, buyers are now paying up to CHF 35,000 per square meter, according to the report. In Küsnacht, a privileged and prestigious residential area for many wealthy owners on the sunny Gold Coast, the price is 30,000 francs.
The real estate boom opposite the Gold Coast is largely fueled by wealthy expats, mainly from Germany. According to Niki Thomet, Managing Partner at Engel & Völkers, demand far exceeds supply. Despite numerous construction projects between Kilchberg and Horgen, demand remains unbroken. Developers are particularly interested in projects in this region, which continues to drive up prices.
In addition to expats, a number of celebrities and successful entrepreneurs have also settled on the Pfnüselküste. Musician Bligg and "Arena" presenter Sandro Brotz are among the well-known faces who live here. Monika Ribar, Chairwoman of the Board of Directors of SBB, has also opted for the left bank of the lake. This mix of new and established residents contributes to the attractiveness of the region, the report continues.
Luxury properties and high sales prices
In Thalwil, another hotspot on the left bank of Lake Zurich, the most expensive apartment in the region is currently being marketed. The Lake Ville new-build project is offering a 5.5-room apartment with 186 square meters for 6.28 million francs, which corresponds to a price per square meter of 33,000 francs.
The Left Bank continues to attract new residents, causing prices to rise further. According to Thomet, the high net immigration will ensure that demand will continue to increase in the coming years. On the Gold Coast, on the other hand, it is becoming increasingly difficult to sell new builds, as it is mainly old money that resides there. The Pfnüselküste, on the other hand, is benefiting from the increase in new capital.
The editor created this article with the help of artificial intelligence (AI).
