Friday, February 12, 2010

Cheapest Place to Live in Switzerland

Switzerland is typically not known for a low cost of living but a recent study revealed the Cheapest place to live in Switzerland

People who live in Appenzell Inner Rhodes which can be found in the eastern part of Switzerland, have the highest level of disposable income after tax and major expenses like housing. On the other hand Geneva residents have been found to have less than people in any other people in Switzerland making it the most expensive place to live.

Bank Credit Suisse conducted the survey and measured a wide range of costs including taxes, social security, health insurance, utility bills, housing prices and rent.

The survey revealed the cost of living varied tremendously depending on where people choose to live in Switzerland. Individual cantons and local municipalities have the power to set their own tax rates and this can have a big impact on the cost of living in Switzerland.

The rural canton of Appenzell Inner Rhodes again topped the list as the most inexpensive place to live, as it did in 2006 when the survey was last conducted.

The report said the canton was "the most appealing place to live for the broad middle classes". This is due to relatively low real estate prices, moderate tax rates and the country's lowest health insurance premiums.

Geneva remained at the bottom of the list of 26 cantons with high property prices and hefty taxes. Obwalden climbed five places to 2nd place after it slashed taxes in 2007. Zug fell 13 places to 18 as the cost of real estate sky rocketed over the past two years.

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