A housing cooperative usually ties up 5–10 % of the investment costs per apartment as Anteilschein (share certificate) capital — typically CHF 5'000–50'000 instead of the CHF 200'000+ equity required when buying. Members are neither classic tenants nor owners in the land register sense, but acquire share certificates in a corporate body under OR Art. 828 ff. that provides living space at cost rent. This results in a rental advantage of 8–20 % below market rent (BWO/BFS 2024). Nationwide, a good 1'500 non-profit providers manage around 4 % of all apartments, in the city of Zurich over 20 %.
Housing cooperatives usually require share capital of 5–10 % of the apartment's investment costs. A study by the regional association of housing cooperatives Zurich (2016, 50 cooperatives surveyed) found an average of around CHF 7'800 per apartment, with a range from CHF 2'500 to CHF 47'000. Older stock is often at CHF 5'000–15'000, properly financed new builds at CHF 25'000–50'000+. The exact amounts are set out in the statutes (OR Art. 853).
On the Swiss average, non-profit rents are 8–20 % below the private market (BWO/BFS 2024). In high-price locations such as the city of Zurich, the difference reaches 30–50 % for older, fully amortised stock. The effect arises from cost rent instead of market rent: the rent covers only interest, amortisation, maintenance, administration and reserves — without a profit margin. In Zurich, a 4.5-room apartment can cost CHF 1'000–1'500 below market rent.
Both. Legally you are a tenant (lease under OR Art. 253 ff.) and at the same time a member, i.e. a co-owner of the cooperative that owns the building. Voting rights follow the personality principle under OR Art. 885: one member, one vote — regardless of whether you hold one or twenty share certificates. At the general assembly, members decide on the statutes, budget, renovations and board.
Waiting lists are the norm. With classic waiting lists, you submit a small share certificate for admission (typically CHF 200–1'000) and in the city of Zurich often wait 5–10 years for a 4.5-room family apartment; some cooperatives have closed their lists entirely. New build projects allocate via a points system (income, need, housing situation) or a lottery. Those who are more flexible — outer district, smaller apartment, younger cooperative — get an apartment sooner.
The Eigenmietwert (imputed rental value) falls away, since you are formally a tenant and not the owner of a property — this can be a considerable monthly advantage compared with condominium ownership. The share certificates are declared at nominal value in the tax return and are subject to wealth tax. Any interest on the shares (usually 0–2 % for non-profit cooperatives) counts as income. The rent itself is not privately deductible.
A new build is typically financed with 60–80 % bank mortgage, 5–15 % low-interest federal loans (Fonds de Roulement, WFG SR 842), 5–10 % members' share capital, plus reserves. Housing security is very high: there are no terminations due to sale or personal need, since the cooperative itself is the owner and does not sell. Rent adjustments follow the reference interest rate (currently March 2026: 1.25 %), inflation and maintenance costs (OR Art. 269 ff.).