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Do you think you need to be a millionaire to live in Switzerland? Au contraire! While it’s no secret that the cost of living in Switzerland is high, don’t let that stop you from experiencing everything this gorgeous Alpine country has to offer! keep reading to learn all about the cost of living comfortably in Switzerland.
Cost of living in Switzerland and minimum viable income
In Switzerland, the cost of living in Zurich is a little high. You’ll need a good income account to get by in some of Switzerland’s most expensive cities. However, the rent of an apartment is an important consideration. Therefore, the cost of living is significantly lower if you choose to reside outside the major cities.
The cost of renting a home is an important factor in determining the total cost of living. When on a tight budget, try moving to a smaller city or town or becoming one of the numerous people who work in Switzerland but reside on the other side of the Swiss-German border.
If you live in Zurich, a one-bedroom apartment costs about half what it does in Berlin. Childcare in Berlin costs about CHF 115 per month instead of CHF 2,000, which is a lot less than in Zurich.
The cost of transferring money from your home currency to Swiss francs is a substantial expense for ex-pats in Switzerland. This is true even if your bank claims to offer money exchange without a fee. Exchange services like ‘Wise’ apply the same mid-market rate found on Google and Reuters, so you’ll get the greatest value. However, when it comes to money transfers, this can be a lot better option than going through your bank at home.
Switzerland average income | Full breakdown
In line with the cost of living, salaries in Switzerland are very high all over the country. The salaries shown here are for Geneva, and they are based on real-time data that Teleport has taken.
However, the interesting part is that there isn’t a national minimum wage in Switzerland. If you live in one of these cantons, you’ll have to pay at least 20 CHF an hour. At the time of this writing, that’s just over 21 dollars an hour.
Annual salary in Switzerland
|Average annual salary
Average monthly housing cost in Switzerland
It doesn’t matter if you live in the U.S. or Switzerland; housing is always going to make a big portion of your total cost of living. However, it’s fair to say that the cost of housing does add to the overall cost of living in Switzerland. The average rent in Switzerland is quite high in comparison to the rest of the world. However, many people work in Switzerland but live in Germany, France, or Italy. If you’re on a tight budget, think about moving to a smaller city or town.
Since the Swiss rent and utility prices are very high, where you live will affect how much you pay for rent. Here are a few examples of major cities, taken from Numbeo, that show how much rent you can expect.
To keep things simple, we’ll look at the Switzerland cost of living in dollars, so you can see how much rent you’ll pay each month if you move here.
|Rent 1 bed, city center
|Rent 1 bed, outside of city center
A 915-square-foot apartment that needs electricity, gas, water, and garbage service will cost about-
|Average utility prices
How much does it cost to buy a house?
As an investment and a place to live while you’re in Switzerland, you could buy a home there. The average cost can be around 1,190,000 Swiss Francs.
Food and entertainment
The amount you pay for food and drinks will depend a lot on how you live and what you like. There are a lot of events to go to and places to eat out if you want to be a part of the lively Swiss culture. So it entirely depends on what you choose. On the other hand, you can eat more at home and enjoy the great outdoors for free.
Swiss health and dental care costs
In Switzerland, you must have your own health insurance. Within three months of moving to a new country, you have to make sure you have health insurance. There are a variety of plans that range from basic to comprehensive.
However, you must keep in mind that Switzerland’s healthcare is expensive. In fact, the percentage of money spent on health in Switzerland is second only to the amount people spend in the United States, which is a lot. A huge 12% of GDP is spent on health and medical costs together. Switzerland has seen a rise in the cost of healthcare, dental, and social care each month, with private households that pay extra or out-of-pocket costs for healthcare instead of having medical coverage.
- Switzerland has something for everyone, from picture-perfect alpine landscapes to lively, beer-fueled festivities held around the country.
- You can move to Switzerland for studies or a job as per your goals, but make sure you know all about the cost of living in Switzerland.
- Simply assess your financial situation to ensure that you have sufficient funds to enjoy it.
We hope you enjoyed reading this blog. In case of any queries, reach out to us or drop a comment below!
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Q1. How much money do you need to live comfortably in Switzerland?
Answer- In most Swiss cities, a single person would need a net salary of 3,500 CHF per month to live comfortably, while a family of four would need a net salary of at least 9,000 CHF per month.
Q2. Is healthcare in Switzerland free?
Answer- Although there is no free state-provided health care in Switzerland, private health insurance is required for all residents.
Q3. Is it possible to live in Switzerland without a job?
Answer- Citizens of EU/EFTA1 member nations have the right to enter and stay in Switzerland without having to work, according to the Agreement on Free Movement of Persons (AFMP) between Switzerland and the EU.