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Breaking News

Boy George makes world art debut in Monaco at G&M Design Gallery

Swiss millionaires in low cost housing

Swiss millionaires in low cost housing

By Staff Writer - November 21, 2017

Photo: Thomas Wolff
Photo: Thomas Wolff

Zurich, the richest city in Switzerland, has discovered that among the 9,000 homes designated for those in need, many are currently occupied by millionaires.

Having found out at the end of 2014 that 132 millionaires were living in ‘social housing,’ the city authorities have introduced a maximum annual income of 200,000 euros to qualify for municipal housing, according to local newspaper Neue Zurcher Zeitung.

Since 2011, the city has insisted that one-third of homes in new developments should be made available to those on low incomes. The authorities had failed to check on the eligibility of those who moved in to social housing before that date.


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