Around 87% of the local population in the Canton of Basel-Stadt rent their houses and apartments. Tenants’ rights are closely protected by corresponding regulations. A fully equipped kitchen and bathroom are always included in the rent, and flats and houses are generally rented unfurnished. There is a communal washing machine and drying room in every apartment block. A 3-month period of notice is common for apartments, while houses are often rented on a long-term lease. A rented room or small flat costs between CHF 800.- and 1,400.- per month, larger flats of three to five bedrooms will cost between CHF 1,700.- and 2,500.-.
Those who are planning to stay in the city for a longer period of time may consider buying a house or apartment. Almost all banks offer mortgages; buyers need to put up at least 20% of the purchase price themselves. In order to be valid, the purchase agreement needs to be attested by a notary, and must be entered in the Land Registry. Foreigners wishing to acquire land in Switzerland are subject to special rules and regulations: prospective buyers who do not have permanent residency status first need to have the deal sanctioned by the relevant authorities.