Geneva housing crisis to persist despite international job cuts

The director of the Swiss Federal Housing Office (FHO), Martin Tschirren, does not expect the thousands of redundancies in International Geneva to have a major impact on housing in Geneva. “Demand will still far outstrip supply,” he said on Wednesday in Geneva. +Get the most important news from Switzerland in your inbox “The federal administration is keeping a very close eye on what is happening in Geneva and in International Geneva,” he told the press on the sidelines of a ministerial meeting of the UN Economic Commission for Europe (UNECE), which he chairs. Thousands of employees of international organisations have lost their jobs as a result of funding cuts by the US and several other countries. But this situation will not solve the housing crisis in Geneva. “I don’t think it will affect the market very much,” insists Tschirren. “Demand is so high that, even if fewer people are looking for accommodation in the region, the pressure will be eased somewhat, but it will far outstrip ...