Currently more than 5,000 people from 85 countries work for Google in Zurich. Photographer: Pascal Mora/Bloomberg , Photographer: Pascal Mora/Bloomberg
While Paris, Vienna and Berlin posted year-on-year declines in their latest monthly figures, prices in the bulk of markets monitored by the Bloomberg City Tracker are still rising — albeit trends have slowed or flattened. Zurich though is a clear outlier. UBS Group AG, which is based in the city, ranked it as having the highest risk in the world of suffering a real estate bubble.
Located between mountains and a large lake, Zurich has natural limits to how much housing it can offer. But high salaries and the beautiful surroundings is a big draw for people from around the world. About one-third of the city’s nearly 450,000 residents are foreigners.