immo!nvest – Die Plattform für Standorte und Immobilien

Tag: CSL Immobilien

  • CEO Yonas Mulugeta Resignation at the end of September 2023

    CEO Yonas Mulugeta Resignation at the end of September 2023

    CSL Immobilien has already begun the search for a suitable successor to ensure a smooth transition and uninterrupted business operations.

    “On behalf of the Board of Directors, I would already like to thank Yonas Mulugeta for his many years of tireless commitment to CSL Immobilien. He has done an outstanding job together with the management and has made the company a leading player in the real estate industry,” says Markus Schawalder, VRP of CSL Immobilien. “We are confident that we will find a suitable successor who will further develop the company into the next phase on the successful path that Yonas Mulugeta has taken. Our goal is to continue to drive innovation and growth at CSL Properties.”

    Yonas Mulugeta will remain closely connected to the real estate industry after his retirement as an active entrepreneur and will take on new entrepreneurial challenges.

  • Investors are lining up for key properties

    Investors are lining up for key properties

    The real estate market in 2021 was turbulent for investors. This is how the real estate market report 2022 from CSL Immobilien summarizes the situation in the past year. Prices for central locations reached record highs. Yields fell accordingly.

    In a press release , CSL Immobilien cites the “Zurich Gold Coast community” Zumikon as an example of bidding processes that drive prices for office and residential buildings well connected to city centers to new record highs. There, the community had an empty fire station building next to a public transport station estimated at 8.7 million francs. It was sold for around 21 million Swiss francs. But first-class real estate “still has no alternative”, CEO Yonas Mulugeta explains this development, which can be observed in the centres.

    The periphery, on the other hand, is seeing rising vacancies: in the past six months, the office space on offer in the greater Zurich area has increased to 910,000 square meters (previous year: 812,000 square meters) or by 12 percent. The same can be seen in the economic areas of Berne (+14 percent) and Geneva (+12 percent).

    This price development led to new lows in net initial yields in most segments of the investment market last year. A sideways movement was expected. Residential properties of first-class quality yielded a national average of 1.9 percent compared to 2.35 percent in the previous year. At 1.9 percent (previous year 2.35 percent), top office properties fell to the level of residential properties.

    Private individuals had to dig deeper into their pockets to buy their own homes. Due to the pandemic, there was also an increase in demand for large rental apartments that also offer space for working from home. Accordingly, the proportion of vacant 1 to 2.5 room apartments in the canton of Zurich rose to 27 percent (previous year 22 percent). Viewed across the country as a whole, the vacancy rate fell to 1.54 percent (previous year: 1.72 percent).

  • Pandemic accelerates real estate trends

    Pandemic accelerates real estate trends

    Yonas Mulugeta, CEO of CSL Immobilien , sums up the findings from the current CSL Real Estate Market Report 2021 . According to a corresponding press release, this applies in particular to the office market. The vacancy rate for offices has reached a high: the available supply of commercial space has increased by 23 percent to 2.26 million square meters in the course of the past year. That is the highest value since 2014.

    At the same time, however, the demand for central locations in major centers such as Zurich increased. The authors of the report deduce from this that the home office is not the end of the office. Instead, office space would be used more as social meeting and collaboration places. Because "Location factors such as an urban environment with attractive lunch or leisure options or proximity to customers and industry meeting points have become more important as a result of the pandemic".

    The vacancy rate in the residential market has also reached a high. In the previous year, the Swiss average rose from 1.66 to 1.72 percent – a value that was last reached in 1988. Outside the major centers, high vacancy rates of over 2 or 3 percent are not uncommon in all of Switzerland. CSL expects vacancies to continue to rise and rents to fall in 2021. Residential property has benefited from the increased value of a beautiful home during the pandemic. Because of the increasing number of homeworkers, real estate in more peripheral locations would have found buyers more easily.

    For multi-asset investors in particular, real estate investments have become a replacement for bonds with negative interest rates. Returns in all real estate asset classes continued to decline.