Cost of living in Switzerland - Things you need to know.

Cost of Living in Switzerland Summary

Switzerland has unavoidable expenses, like health insurance, internet, and electricity. These costs can quickly add up, so it's important to consider balancing them with investments such as vacation time or savings. On the bright side, Switzerland has a high cost of living because so many luxuries are available here. Renting an apartment in Switzerland is cheaper than renting luxury condos--the average room rent is $780-4100 per month. 

And although the gas price is high at $6 per gallon, other expenses are low compared to other countries. For example, the cost of a housekeeper is only around $10 per hour. So while the cost of living in Switzerland may be high overall, some affordable options are still available.

Rent in Switzerland

In general, it is expensive to rent a place in Switzerland. This expense can vary greatly depending on the location and size of the property. Here at Packimpex, we support clients to find their ideal home at a price that's right for them. However, some general trends can help give you an idea of what to expect.

Shared apartments cost approximately $780-1200 per month, while private apartments cost from $1600 to $2300 per month. Luxury apartments cost roughly $3000-4100 per month, depending on the location and size of the property.

With accommodation costs ranging from CHF 150 to 400 per month. In addition to rent, you will likely need to pay a monthly provision for hot water and heating, which will be added to your basic rent. Once a year, your landlord will send you a breakdown of the actual costs, showing the balance either in his or your favor.

It is important to note that Switzerland has a highly localized tax system, so check the taxation rate in your chosen canton before budgeting for living expenses.

Short Term Rental in Switzerland

If you're looking for a short-term rental in Switzerland, you can expect to pay anywhere from CHF 800 - 2,000 per month, depending on the municipality. A 500 ml beer costs CHF 5, while a cocktail drink costs CHF 6. The cost of living in Switzerland is high, but their recycling and waste disposal are free.

Transport in Switzerland

Switzerland is known for its railway tracks, connecting all major cities and towns. There is over 5300km of railway tracks in Switzerland - enough to stretch from Canada's Pacific Coast to its Atlantic coast!

Switzerland has an excellent public transport system, allowing citizens to avoid owning a car. Taxis are cheaper than driving in the long-term, with fares starting at USD 60. For example, one zone on the tram costs only USD 4 and takes 30 minutes to travel between Basel and Zurich at rush hour (7 am - 8 pm). Train travel in Switzerland costs $35 one way.

Food in Switzerland

Switzerland has a diverse cuisine. You can find everything from Italian to Thai food here. However, eating out is super common in Switzerland and can get really expensive! A full meal at a restaurant will cost you about $30, while the most luxurious places can charge up to $130. That said, there are some cheaper options. The grocery stores Migros and Coop, as well as Lidl, are the most affordable in Switzerland.

And if you're looking for something specific – like eggs or milk – check the prices first. The cost of eggs is $6.54 a dozen; milk costs $6.79 a gallon; bread costs $2.56 a 1lb loaf (16 slices); cheese costs $12.94 for 1lb; chocolate costs $7 per 100g; chicken fillets cost $14.20 per pound and onions are only one dollar each! If you're feeling starving, why not try a rösti? This Swiss dish is made from potato and flour and fried in butter or oil – and it's only two dollars at most restaurants!

Keeping Busy and Active in Switzerland

Switzerland's role as a tourist destination means that it has affordable activities and is easy to keep active. Here are some examples:

Sports group – $20

Gym membership – $10

Bike hire is free for 30 minutes and costs $10/day after that.

Art museum – $30

School in Switzerland

Education is free in Switzerland for all residents, including international students. The country offers several different educational tracks in public and private school systems.

The Swiss education system is internationally recognized for its high-quality standards. Many schools offer English, French, German, or Italian instruction, so parents can choose the language of education that best suits their family.

International schools in Switzerland typically charge between $30K and USD 40K per year for tuition and other associated costs. However, these schools often provide a superior education compared to local schools. Additionally, they offer a sense of community among expatriates living in Switzerland.

Medical Costs in Switzerland

The canton governs healthcare in Switzerland. This means that healthcare costs vary depending on which canton you reside in. Healthcare in Switzerland is a complicated topic. The cantons each have laws and regulations, which can lead to very different costs for healthcare, depending on where you live! For example, an annual premium could range from $310-to 390, while hospital stays typically cost around 17 CHF per day (USD 15).

Employers in Switzerland are required to offer their employees accident insurance, except for pharmaceutical scientists and those employed solely in private health care institutions. If a Swiss company does not hire you or your employer does not offer accident/healthcare coverage, you must purchase an individual healthcare plan.

Insurance for Living in Switzerland

In Switzerland, personal liability insurance is not required, but it is strongly suggested. Most Real Estate agencies in Switzerland demand that their renters are covered by private liability insurance. It might be pretty beneficial since, without realizing it, one may inadvertently harm the third party and be held responsible for the damages. The price of coverage varies from CHF 200 to 400

Although household insurance is not required, it is highly encouraged. This coverage covers break-in robbery, water damage, and other risks. It costs between CHF 200.– and CHF 800.– each year on average.

Taxes in Switzerland

In Switzerland, you will be charged income tax based on your earnings. The Swiss Tax Calculator can help determine how much you will be taxed. Switzerland has the lowest personal tax rates in the world so you can keep more of your hard-earned money. However, you will have to file your taxes in this country. Make sure to consult a local expert first!

The cost of living in Switzerland is less than in the US. Different online jobs include teaching English abroad, which can offset some of those expenses.

What to expect if you are family/ a single person living cost in Switzerland

If you are a family, you can expect to spend between 4000 and 8000 Swiss francs per month on living expenses. If you are a single person, you can expect to pay between 2500 and 4000 Swiss francs per month on living expenses. These costs can vary depending on your lifestyle and where you live in Switzerland.

You don't need to go out clubbing or spend much money on expensive dinners - 2500 CHF should be more than enough. Keep in mind that the average salary in Switzerland is 4000 CHF a month, so you can save plenty of money by not spending it all on cable cars and fancy food.

Which is the cheapest city in Switzerland?

The cost of living varies significantly from city to city in Switzerland. For example, the cost of an apartment in Geneva is much higher than in Lausanne or Zurich. However, the cheapest city is Zug when looking at all prices, including food, transportation, and utilities. The most expensive city is Geneva.

What is the typical cost of living in Switzerland?

Switzerland's monthly cost of living generally includes rent, electricity, water, and garbage costs. It may also have things like heat, internet, and TV. The average rent for a single person is around $ 1900. However, this varies depending on the city you live in. For example, Zurich has higher rent prices than Geneva. Monthly costs for other items vary as well:

Electricity bills typically cost between $50-$100 per month

Water bills are about $30-$40 each month

Garbage collection fees cost about $10-$15 each month

Most restaurants in Switzerland charge an average of $23 for a meal. Domestic beers can be had for about $ 6 at most places, while wine usually costs around $10-$12 per glass.

What is a good salary in Switzerland?

The average annual salary in Switzerland is approximately USD 60,000 or around USD 5,000 per month. However, this varies depending on occupation and other factors. For example, the average teacher salary in Switzerland is about CHF 87,000 annually. This high salary reflects Switzerland's high cost of living and the excellent working conditions and benefits offered. Although the cost of living is high in Switzerland, Swiss citizens can still live a comfortable life thanks to the availability of jobs that offer high salaries and quality working conditions.

If you're still on the fence about relocating to Switzerland after reading this, know we can help! Packimpex Relocation Consultants is a team of experts with years of experience assisting people in relocating to Switzerland.

We can answer your questions about living here, from finding accommodation and settling to navigating the country's complex tax system.

So if you're curious about making a move, book a free guidance call with us today. We would be happy to chat with you and help make your transition as smooth as possible.