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Millionaires are living in Zurich’s public housing, and the city wants to kick them out

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Zurich, the most expensive city in Europe, has more than a hundred millionaires living in rent-controlled public housing.

Published   |  Photo by Reuters/Arnd Wiegmann
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At least a third of every residential complex in the city must be rented out at prices “no higher than needed to cover the cost of construction and maintenance,” CityLab reports.

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The city itself has built about 9,000 housing units, without any income limits on who can live there. That’s about to change.

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After finding that many high-income people were taking advantage of low rents, new rules state that incoming tenants can’t earn more than four times times their rent each month.

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