View Single Post
  #9  
Old 01.06.2007, 08:12
Bartholemew's Avatar
Bartholemew Bartholemew is offline
Forum Veteran
 
Join Date: Feb 2007
Location: back in Zurich (but pining for Brussels periodically)
Posts: 894
Groaned at 5 Times in 5 Posts
Thanked 622 Times in 320 Posts
Bartholemew has a reputation beyond reputeBartholemew has a reputation beyond reputeBartholemew has a reputation beyond reputeBartholemew has a reputation beyond reputeBartholemew has a reputation beyond repute
Re: Does "Anteilscheine" mean "deposit"?

hi Bozo, my in-laws paid Sfr. 6000.- as an Anteilsschein for their flat in a cooperative-run building, which costs roughly 900.- rent monthly (their rent has actually gone down fractionally since they moved in one year ago). They don't or won't get interest on the amount when they move out and the money is returned to them, but it may vary from cooperative to cooperative. I would think the fact that Baugenossenschafts keep your rent stable even if housing prices go through the roof makes up for the fact that you might not earn interest on your deposit.

The idea of a Baugenossenschaft/cooperative, which is quite common in Zurich, was born out of the idea of ensuring rent stays stable and affordable, esp for families who might have a hard time finding a large enough apartment at an affordable price otherwise. My understanding of how the Baugenossenschaft use your Anteilsschein is to finance upkeep of their buildings and new projects.

I realize it may sound strange giving somebody so much money, but please keep in mind that Baugenossenschafts are actually not-for-profit organizations, so I doubt they would even be able to use your Anteilsschein money for, say securities arbitrage or something like that.
Reply With Quote