Communal housing check: Commune of Cham

Transcription

1 Communal housing check: Location 4th quarter 217 Postcode 633 Commune Cham (BFS: 172) Location Cham (FPRE: ZG1) Agglomeration BFS Zug Commune type BFS Workplace commune in a metropolitan region Canton Zug MS region Zug (BFS: 38) FPRE region Zurich Spatial type FPRE Other agglomerations Fusions: - Topics 1 Population 8 Vacancies 2 Segmentation of demand 9 Market values, market rents and price levels 3 Taxes, income and purchasing power 1 Accessibility and commuting 4 Stages in life 11 Building zones, public transport groups 5 Liveability 12 Perspectives 23 (Scenario «unchanged urban planning») 6 Relocation 13 Perspectives 23 (Scenario «restrictive urban planning») 7 Housing market Fahrländer Partner AG Raumentwicklung

2 Macro location text housing Cham is a workplace commune in a metropolitan region in the canton of Zug. Cham belongs to the agglomeration Zug with 54'975 households (216) and 129'62 inhabitants (216). Cham has 16'216 residents (216) and 6'77 households (216) (average number of persons per household: 2.4). The average migratory balance between 211 and 216 is 148 persons. In 213, 39.4% of households belonged to the higher social classes (: 32.5%), 3.9% of households to the middle classes (: 3.2%) and 29.7% of households to the lower social classes (: 37.3%). Between 21 and 216, the tax burden for families decreased strongly and for celibates stayed stable. In 215 the commune of Cham had 1'798 businesses employing 9'868 persons according to FSO business statistics (STATENT). This corresponds to an increase of 156 businesses and to an increase of 247 employees since 211. Of the 7'79 full-time equivalent posts (2%) were in the primary sector, 1'773 (23%) in the industrial sector and 5'89 (75%) in the services sector. The centres most easily accessible from Cham by motorised individual transport are Zug (13 mins), Luzern (18 mins) and Schwyz (21 mins). By public transport the centres within easiest reach are Zug (12 mins), Wohlen (AG) (37 mins) and Luzern (42 mins). At the end of 215 the commune had 7'5 housing units, of which 799 were single family houses and 6'251 apartments in multiple family houses. At 11.3% the percentage of single family houses is significantly below average (22.6%). With average construction activity of 111 apartments (21-215; that is 1.7% of the 21 total), the vacancy rate of.81% (58 apartments) is significantly below the country-wide average (1.47%). This corresponds to 58 accomondation units, whereof 97% are in old builings and 98% are rental apartments. Assuming an unchanged spatial development policy the intermediate scenario of the FPRE housing projection model anticipates between 215 and 23 additional demand for 1'557 apartments (per year: 14) in the commune of Cham. The FPRE hedonic models calculate the price level for owner-occupied homes (average new builds) at 17'526 CHF/m² for single family houses and at 11'858 CHF/m² for apartments. The net market rental price of an apartment in an average location is 287 CHF/m²a. The inner value of building land (developed) is, depending on the micro-situation, for a typical single family house between 2'33-3'225 CHF/m² and for a typical multi-family house between 3'19-4'335 CHF/m² (CON) resp. 1'995-3'235 CHF/m² (RA). This is average in regional comparison. Since the first quarter of 2 the prices of average single family houses in the MS region of Zug have increased by 114.4% (building land for SFH: 199.2%).The percentage price increase for an average condominium is 134.2% (building land for MFH with CON: 267.7%). Since the 1st quarter 28, the market rents changed by 11% (building land for MFH with RA: 117.6%). According to the FPRE assessment, the market in Cham is very high valued.

3 1 Population Key data population Population (permanent) 13'981 14'259 14'552 14'88 14'976 15'2 15'375 15'523 15'954 16'216 Number of households '972 6'88 6'175 6'342 6'44 6'613 6'77 Ø household size Population growth (%) Foreign population share (%) Indexed evolution of population (year 27 = 1) Permanent population Foreign population share MS Zug FPRE region Zurich Population by age class (216) MS Zug FPRE region Zurich Population in retirement age and expectancy of life (216) Population in retirement age (abs.) MS region Zug 5'949 5'319 4'25 2'775 1' Expectancy of life in years () * Men Women * Population between 65 and 99 years; weighted average within each age class

4 1 Population (2) National Council election 215 and 211 in comparison 4 35% 25% 15% 5% SVP CVP FDP + LPS SP GPS GLP BDP Others 215 Canton of Zug Results 211 Source: BFS, Fahrländer Partner. Popular initiative (9 February 214): «Against mass immigration» Canton of Zug Yes No Source: BFS, Fahrländer Partner. Vote (3 March 213): «Federal law on spatial planning» Canton of Zug Yes No Source: BFS, Fahrländer Partner. Popular initiative (11 March 212): «An end to unrestricted construction of second homes!» Canton of Zug Yes No Source: BFS, Fahrländer Partner.

5 Eigentum von Fahrländer Partner AG, Zürich 2 Segmentation of demand Segmentation of demand 213 MS region FPRE region Households Distribution 1 Rural-traditional % 9.4% 1.5% 11.9% 2 Modern worker % 9.6% 1.6% 11.9% 3 Transitional-alternative % 11.3% % 4 Traditional middle class % 7.4% 7.7% 9.1% 5 Liberal middle class % 1.2% 1.2% Established-alternative % 1.8% 1.4% 1.1% 7 Upper middle class % 1.3% 7.9% 7.4% 8 Professional elite % 9 Urban elite % % 16.5% Total 6' Note: Revision of the segments with the update to data status 213. Segments are now based on the new census (register and structural survey). Source: Fahrländer Partner & sotomo. Distribution of the segments in the commune Deviation from nationwide percentages Social stratum Social stratum Lifestyle Lifestyle <5 5 to 1 1 to to 2 2 to 25 Per cent (%) <-1-1 to -6-6 to -2-2 to 2 2 to 6 6 to 1 >1 Percentage point (PP) Note: Revision of the segments with the update to data status 213. Segments are now based on the new census (register and structural survey). Source: Fahrländer Partner & sotomo. Segmentation of demand , commune of Cham Lower class Middle class Upper class 25% 15% 5% Rural-traditional 4 Traditional middle class 7 Upper middle class 2 Modern worker 5 Liberal middle class 8 Professional elite 3 Transitional-alternative 6 Established-alternative 9 Urban elite Note: Revision of the segments with the update to data status 213. Segments are now based on the new census (register and structural survey). Source: Fahrländer Partner & sotomo.

6 3 Taxes, income and purchasing power Proportion of households by social stratum (purchasing power potential, 213) Lower class* Middle class** Upper class*** 29.7% 3.9% 39.4% MS region Zug 3.3% 28.5% 41.2% FPRE region Zurich 34.1% 28.3% 37.6% 37.3% 3.2% 32.5% Note: Revision of the segments with the update to data status 213. Segments are now based on the new census (register and structural survey). Source: Fahrländer Partner & sotomo. 5 Lower class* Middle class** Upper class*** MS Zug FPRE region Zurich * Segmentation of demand: 1 Rural-traditional, 2 Modern worker, 3 Transitional-alternative. ** Segmentation of demand: 4 Traditional middle class, 5 Liberal middle class, 6 Established-alternative. *** Segmentation of demand: 7 Upper middle class, 8 Professional elite, 9 Urban elite. Note: Revision of the segments with the update to data status 213. Segments are now based on the new census (register and structural survey). Source: Fahrländer Partner & sotomo. Ø net income; all natural persons* '11 92'439 95'5 96'151 99'333 1'939 16'863 11'759 12'29 97'249 MS region Zug 96'9 11'888 18' '457 11'938 11'23 136' ' '898 18'462 FPRE region Zurich 79'428 81'687 84'329 86'37 86'375 86'624 91'236 88'951 88'764 89'753 72'418 74'78 76'168 77'766 77'835 78'432 8'868 8'176 8'457 81'24 * Ø net income (federal) normal case. Source: ESTV, modelling Fahrländer Partner. Ø net income; working population* '448 99'25 1'36 11'197 14'43 16'11 113'789 17'714 16'691 13'56 MS region Zug 12'25 18' ' ' ' ' ' '25 121'23 116'14 FPRE region Zurich 84'16 86'969 89'799 91'414 91'784 92'37 98'125 95'269 94'876 95'989 77'342 78'824 81'698 83'274 82'984 83'591 87'44 86'188 86'32 86'784 * Ø net income (federal) normal case. Source: ESTV, modelling Fahrländer Partner. Ø net income; non-working population / pensioners* '324 61'836 71'869 73'986 75'957 77'376 77'312 77'291 82'49 73'284 MS region Zug 72'877 74'534 78'849 81'551 81'25 84'977 84'136 81'67 83'14 81'43 FPRE region Zurich 63'91 64'437 66'852 68'477 69'16 69'478 71'13 7'377 7'689 71'574 61'31 59'938 61'834 63'127 64'674 65'334 67'32 66'781 67'356 68'289 * Ø net income (federal) normal case. Source: ESTV, modelling Fahrländer Partner.

7 3 Taxes, income and purchasing power (2) Tax burden on families (%)* Commune of Baar (lowest tax burden in the canton)** Commune of Menzingen (highest tax burden in the canton)** City of Zug (capital of the canton) * Family with two children, gross income CHF 1'. ** Reference year 216 (commune mergers: weighted average). Source: ESTV, modelling Fahrländer Partner. Tax burden on singles (%)* Commune of Baar (lowest tax burden in the canton)** Commune of Menzingen (highest tax burden in the canton)** City of Zug (capital of the canton) * Unmarried taxpayer, gross income CHF 7'. ** Reference year 216 (commune mergers: weighted average). Source: ESTV, modelling Fahrländer Partner. Comparison of tax burden on families (%) Commune of Menzingen (highest tax burden in the canton)* Commune of Baar (lowest tax burden in the canton)* City of Zug (capital of the canton) Comparison of tax burden on singles (%) Commune of Menzingen (highest tax burden in the canton)* Commune of Baar (lowest tax burden in the canton)* City of Zug (capital of the canton) * Reference year 216 (commune mergers: weighted average). Source: ESTV, modelling Fahrländer Partner.

8 4 Stages in life Stages in life 215 MS region FPRE region Households Distribution Young single (to 34 years) % 8.9% 9.7% 9. Middle-aged single (35 to 54 years) % 11.1% 1.9% 9.8% Older single (55+ years) 1' % 16.8% 17.7% 18.8% Young couple (to 34 years) % 4.2% 4.4% 4.1% Middle-aged couple (35 to 54 years) % 7.3% 6.9% 6.4% Older couple (55 years) 1' % 17.3% 16.8% 17.4% Family with children (regardless of age) 1' % 26.7% 25.2% 26. Single-parent family (regardless of age) % 5.2% 5.3% 5.6% Co-tenants (regardless of age) % 2.6% 3.1% 2.8% Total 6' Source: Fahrländer Partner & sotomo. Distribution of the stages in life in the commune Deviation from nationwide percentages Singles Couples Family with children Single-parent family Co-tenants Singles Couples Family with children Single-parent family Co-tenants Young Young Middle Middle Older Older <5 5 to 1 1 to to 2 2 to 25 Per cent (%) <-1-1 to -6-6 to -2-2 to 2 2 to 6 6 to 1 >1 Percentage point (PP) Source: Fahrländer Partner & sotomo. Stages in life , commune of Cham 45% 4 35% 25% 15% 5% Source: Fahrländer Partner & sotomo. Young single Middle-aged single Older single Young couple Middle-aged couple Older couple Co-tenants Family with children Single-parent family

9 5 Liveability Liveability index (WLQI) 214 Centrality - Travel time to next supra-regional centre 4. good - Travel time to next agglomeration centre (private motorised transport) 4. good - Travel time to next agglomeration centre (public transport) 5. very good Quality of the residential environment - Exposition 2.5 bad-average - Landscape quality 2.5 bad-average Image - Share of upper class households 4. good Stability of the residential environment - Additional demand and building land reserves 3. average Source: Fahrländer Partner. WLQI for groups of demand Commune of Cham MS region Zug Young, traditional singles and couples Middle-aged and older traditional singles and couples Traditional families + ++ Young, liberal singles and couples Middle-aged and older liberal singles and couples + + Liberal families + + Young, individualised singles and couples + +/- Middle-aged and older individualised singles and couples + + Individualised families ++ + Global index + + Significantly below average (- -), below average (-), average (+/-), above average (+), good (++), very good (+++), excellent (++++). Source: Fahrländer Partner.

10 6 Relocation Move notifications * 213* 214* 215* 216* Inward (domestic) Outward (domestic) Inter-municipal relocations * In 212 «Die Post» increased the fee for announcements of address changes. Note: The post data is based on announcements of address changes and don't cover all the relocations. Sources: BFS, Die Post, modelling Fahrländer Partner. Origin of new residents, average p.a (MS regions) Number of households Basel-Stadt Zürich 1-14 Bern Winterthur St.Gallen/Rorschach Lausanne Genève Luzern Lugano Sources: BFS, Die Post, modelling Fahrländer Partner. Migration (persons) Inward 1'322 1'417 1'358 1'263 1'334 1'254 1'49 1'253 1'55 1'496 Swiss (domestic) Swiss (international) Foreigners (domestic) Foreigners (international) Outward 1'162 1'192 1'175 1'71 1'245 1'276 1'128 1'23 1'171 1'34 Swiss (domestic) Swiss (international) Foreigners (domestic) Foreigners (international) Migratory balance Source: OFS.

11 7 Housing market Key data housing market Number of households '972 6'88 6'175 6'342 6'44 6'613 6'77 Housing stock 5'998 6'112 6'388 6'497 6'598 6'664 6'779 6'845 7'5 7'184 Housing stock rooms Housing stock rooms Housing stock rooms 1'341 1'365 1'448 1'472 1'493 1'499 1'536 1'551 1'68 - Housing stock rooms 2'2 2'241 2'414 2'489 2'54 2'563 2'599 2'626 2'674 - Housing stock 5+ rooms 1'65 1'629 1'588 1'598 1'61 1'633 1'658 1'678 1'74 - New construction Net housing stock change Housing units, building permits Note: As of 29 housing stocks are derived from register data. This leads to a structural break between 28 and 29. According to the BFS, data from 29 to 211 is considered to be unreliable. Housing stock by number of rooms (215) MS Zug FPRE region Zurich 1 room 2 rooms 3 rooms 4 rooms 5+ rooms New housing units as % of total housing stock 3.5% % % 1..5% MS Zug FPRE region Zurich

12 7 Housing market (2) Real estate offer and insertion duration: Condominiums Number of ads (index, 2nd quarter 214 = 1) Insertion duration (days) :2 214:3 214:4 215:1 215:2 215:3 215:4 216:1 216:2 216:3 216:4 217:1 217:2 217:3 214:2 214:3 214:4 215:1 215:2 215:3 215:4 216:1 216:2 216:3 216:4 217:1 217:2 217:3 MS Zug FPRE region Zurich Other agglomerations Source: Offer data from real estate portals, data processing: Fahrländer Partner. Real estate offer and insertion duration: Single family houses Number of ads (index, 2nd quarter 214 = 1) Insertion duration (days) :2 214:3 214:4 215:1 215:2 215:3 215:4 216:1 216:2 216:3 216:4 217:1 217:2 217:3 214:2 214:3 214:4 215:1 215:2 215:3 215:4 216:1 216:2 216:3 216:4 217:1 217:2 217:3 MS Zug FPRE region Zurich Other agglomerations Note: The quantity of data in the MS region is not representative. Source: Offer data from real estate portals, data processing: Fahrländer Partner. Real estate offer and insertion duration: Rental apartments Number of ads (index, 2nd quarter 214 = 1) Insertion duration (days) :2 214:3 214:4 215:1 215:2 215:3 215:4 216:1 216:2 216:3 216:4 217:1 217:2 217: :2 214:3 214:4 215:1 215:2 215:3 215:4 216:1 216:2 216:3 216:4 217:1 217:2 217:3 MS Zug FPRE region Zurich Other agglomerations Source: Offer data from real estate portals, data processing: Fahrländer Partner.

13 8 Vacancies Vacancy rate Commune (abs.) Commune (%) MS region (%) FPRE region (%) (%) Vacancies by number of rooms (217) MS Zug FPRE region Zurich 1 room 2 rooms 3 rooms 4 rooms 5+ rooms Vacancies by rented/owner-occupied objects (217) MS Zug FPRE region Zurich Rented Owned Vacancies old and new building (217) MS Zug FPRE region Zurich Old building New building Vacancy rate 1.6% 1.4% 1.2% 1..8%.6%.4%.2% MS Zug FPRE region Zurich

14 9 Market values, market rents and price levels (CON) Market values for condominiums CHF/m2 CHF Apartment 4.5 rooms, new construction (12 m² HNF SIA 416)* 11'858 1'423' Apartment 4.5 rooms, old construction (11 m² HNF SIA 416)** 9'564 1'52' Apartment 3.5 rooms, new construction (1 m² HNF SIA 416)* 12'24 1'224' Apartment 2.5 rooms, new construction (8 m² HNF SIA 416)* 12'725 1'18' * 1st floor, average standard, with balcony, average-good micro-location, 1 parking place. ** Year of constr. 3 years ago, intact/good condition, 1st floor, with balcony, average-good micro-location, 1 parking place. Source: IMBAS Fahrländer Partner. The models are based on transaction data as of 3 September 217. Distribution of market values (CHF/m²) 18' 16' 14' 12' 1' 8' 6' 4' 2' Distribution of market values (CHF), rooms 2'5' 2'' 1'5' 1'' 5' expensive above-average below average low priced Median Transaction data Offer data CON new CON old CON new CON old * Old building: objects with constr. year before 29. Source: IMBAS Fahrländer Partner. Data as of 3 September 217. Inner values of building land (developed) for apartment buildings (condominium)* average location good location Best location CHF/m² 3'19-3'35 3'275-3'62 3'73-4'335 CHF/m² GF SIA 416 (above ground) 4'675-4'915 4'85-5'31 5'475-6'365 * Base: apartment building with 8 apartments which are sold in condominium ownership. Utilisation factor:.63. Source: IMBAS Fahrländer Partner. The models are based on transaction data as of 3 September 217. Price development (indexed, 1st quarter 2 = 1) CON: average segment Inner values of building land for MFH with CON (developed) :1 21:1 22:1 23:1 24:1 25:1 26:1 27:1 28:1 29:1 21:1 211:1 212:1 213:1 214:1 215:1 216:1 217: :1 21:1 22:1 23:1 24:1 25:1 26:1 27:1 28:1 29:1 21:1 211:1 212:1 213:1 214:1 215:1 216:1 217:1 MS Zug* FPRE region Zurich Other agglomerations * Smoothing: gliding and centred mean during three quarters. The most actual data point is provisional. Source: Fahrländer Partner, data as of 3 September 217.

15 9 Market values, market rents and price levels (SFH) Market values for single family houses CHF/m2 CHF Detached single family house, new construction (45m² land, 71m³ SIA 416)* 17'526 2'366' Semi detached single family house, new construction (37m² land 62m³ SIA 416)* 17'225 2'67' Detached single family house, old construction (45m² land 71m³ SIA 416)** 14'34 1'931' * average standard, average-good micro-location. ** Year of constr. 3 years ago, intact/good condition, average-good micro-location. Source: IMBAS Fahrländer Partner. The models are based on transaction data as of 3 September 217. Distribution of market values (CHF/m²) 35' Distribution of market values (CHF), rooms 4'' 3' 3'5' expensive 25' 2' 15' 1' 5' 3'' 2'5' 2'' 1'5' 1'' 5' SFH new SFH old SFH new SFH old above-average below average low priced Median Transaction data Offer data * Old building: objects with constr. year before 29. Source: IMBAS Fahrländer Partner. Data as of 3 September 217. Building land (developed) for single family houses average location good location Best location CHF/m² 2'33-2'45 2'465-2'72 2'775-3'225 CHF/m² GF SIA 416 (above ground) 8'7-9'145 9'19-1'155 1'625-12'345 * For a detached single family house with typical land area, building volume and standard according to the location. Source: IMBAS Fahrländer Partner. The models are based on transaction data as of 3 September 217. Price development (indexed, 1st quarter 2 = 1) SFH: average segment Inner values of building land for SFH (developed) :1 21:1 22:1 23:1 24:1 25:1 26:1 27:1 28:1 29:1 21:1 211:1 212:1 213:1 214:1 215:1 216:1 217: :1 21:1 22:1 23:1 24:1 25:1 26:1 27:1 28:1 29:1 21:1 211:1 212:1 213:1 214:1 215:1 216:1 217:1 MS Zug* FPRE region Zurich Other agglomerations * Smoothing: gliding and centred mean during three quarters. The most actual data point is provisional. Source: Fahrländer Partner, data as of 3 September 217.

16 9 Market values, market rents and price levels (RA) Market rents of apartments CHF/m2 CHF/month (net) Apartment 4.5 rooms, new construction (11 m² HNF SIA 416)* 287 2'635 Apartment 4.5 rooms, old construction (1 m² HNF SIA 416)** 253 2'11 Apartment 3.5 rooms, new construction (9 m² HNF SIA 416)* 31 2'26 Apartment 2.5 rooms, new construction (7 m² HNF SIA 416)* 326 1'9 Apartment 1.5 rooms, new construction (45 m² HNF SIA 416)* 349 1'31 * 1st floor, average standard, with balcony, average micro-location. ** Year of constr. 3 years ago, intact/good condition, with balcony, average micro-location. Source: IMBAS Fahrländer Partner. Data as of 3 September 217. Distribution of net rents (CHF/m²a) * Old building: objects with constr. year before 29. Source: IMBAS Fahrländer Partner. Data as of 3 September 217. Distribution of net rents (CHF/month), rooms 4'5 4' 3'5 3' 2'5 2' 1'5 1' 5 RA new RA old RA new RA old expensive above-average below average low priced Median Transaction data Offer data Inner values of building land (developed) for apartment buildings (RA)* average location good location Best location CHF/m² 1'995-2'1 2'26-2'495 2'785-3'235 CHF/m² GF SIA 416 (above ground) 2'93-3'8 3'315-3'665 4'85-4'75 * Base: apartment building with 8 apartments as investment property. Utilisation factor:.63. Source: IMBAS Fahrländer Partner. Data as of 3 September 217. Price development (indexed, 1st quarter 28 = 1) Market rent indexes for rented apartments Building land (developed) for apartment buildings (RA) :1 29:1 21:1 211:1 212:1 213:1 214:1 215:1 216:1 217:1 28:1 29:1 21:1 211:1 212:1 213:1 214:1 215:1 216:1 217:1 MS Zug* FPRE region Zurich Other agglomerations * Smoothing: gliding and centred mean during three quarters. The most actual data point is provisional. Source: Fahrländer Partner, data as of 3 September 217. Discounting factor for rental apartments real terms (average standard, average micro-location) 2.8%

17 9 Market values, market rents and price levels (4) Market values/market rents in the region Condominiums* Single family houses** Rental apartments*** CHF/m² CHF/m² CHF/m²a Cham 11'858 17' Chämleten (Hünenberg) 9'392 (-21%) 14'622 (-17%) 287 () Lindencham (Cham) 8'433 (-29%) 1'733 (-39%) 279 (-3%) Steinhausen 11'225 (-5%) 14'585 (-17%) 277 (-4%) Choller (Zug) 12'1 (+2%) 16'7 (-9%) 31 (+8%) Hünenberg 12'95 (+9%) 16'43 (-6%) 285 (-1%) Hagendorn (Cham) 1'42 (-15%) 13'326 (-24%) 273 (-5%) Holzhäusern (Risch) 1'183 (-14%) 13'519 (-23%) 34 (+6%) Niederwil (Cham) 9'475 (-) 14'141 (-19%) 291 (+1%) Zug 14'925 (+26%) 23'326 (+33%) 335 (+17%) Berchtwil (Risch) 8'98 (-25%) 12'859 (-27%) 254 (-12%) Knonau 8'442 (-29%) 1'533 (-4) 242 (-16%) Chamau (Hünenberg) 9'342 (-21%) 14'622 (-17%) 275 (-4%) Buonas (Risch) 1'883 (-8%) 14'867 (-15%) 257 (-) Sins 6'33 (-49%) 7'933 (-55%) 222 (-23%) Rotkreuz (Risch) 1'933 (-8%) 13'467 (-23%) 266 (-8%) Oberrüti 6'717 (-43%) 8'43 (-52%) 26 (-28%) Baar 12'158 (+3%) 16'837 (-4%) 274 (-5%) Oberwil (Zug) 14'88 (+25%) 19'289 (+) 351 (+22%) Rossau (Mettmenstetten) 7'517 (-37%) 1'126 (-42%) 232 (-19%) Uerzlikon (Kappel am Albis) 8'258 (-) 1'467 (-4) 238 (-17%) Inwil (Baar) 1'775 (-9%) 13'341 (-24%) 279 (-3%) Ibikon (Risch) 8'883 (-25%) 12'859 (-27%) 247 (-14%) Risch 1'7 (-) 14'281 (-19%) 252 (-12%) Hauptikon (Kappel am Albis) 8'517 (-28%) 1'319 (-41%) 236 (-18%) Dietwil 6'742 (-43%) 8'422 (-52%) 193 (-33%) * 4.5 rooms, 12 m² HNF SIA 416, new construction, first floor, average standard, with balcony, average-good micro-location, 1 parking place. ** 45m² plot area, 71m³ SIA 416, detached, new construction, average standard, average-good micro-location. *** 4.5 rooms, 11 m² HNF SIA 416, new construction, first floor, average standard, with balcony, average micro-location. Source: IMBAS Fahrländer Partner. Data as of 3 September 217. Price level, commune of Cham Comparison with MS region Zug Comparison with canton of Zug Comparison with Evaluation of the current price level Source: IMBAS & RESC Fahrländer Partner. average average very high very high

18 1 Accessibility and commuting Most accessible centres from Cham (public transport, PT) 21 Travel time to Zug* Travel time to Wohlen (AG)* Travel time to Luzern* Travel time to Zürich* * Mean transport times, districts taken into account (time of travel plus time to change), without access times within the commune. Source: ARE, modelling Fahrländer Partner. 12 min. 37 min. 42 min. 51 min. Most accessible centres from Cham (private motorised transport, PMT) 21 Travel time to Zug* Travel time to Luzern* Travel time to Schwyz* Travel time to Zürich* * Time of travel under the load of the average weekday traffic volume. Source: ARE, modelling Fahrländer Partner. 13 min. 18 min. 21 min. 26 min. Accessibility 15 min. 2 min. 25 min. 3 min. 45 min. Population (PT) 83'214 19'42 13' ' '868 Population (PMT) 177' '18 777'714 1'412'752 2'523'555 Employees (PT) 83'252 19' ' '57 292'813 Employees (PMT) 136' ' '935 1'98'74 1'678'966 * Population (215) and employees (215) accessible with public transport (21) and private motorised transport (21). Source: ARE, BFS, modelling Fahrländer Partner. Commuters: Modal split (place of work within commune of residence) * MS Zug FPRE region Zurich non-motorised transport private motorised transport public transport *Number of observations: 36. Remark: Extrapolation based on structural surveys (pooled). Commuters: Modal split (place of work outside the commune) * MS Zug FPRE region Zurich non-motorised transport private motorised transport public transport *Number of observations: 1'625. Remark: Extrapolation based on structural surveys (pooled).

19 11 Building zones, public transport groups Ground areas, building zones and land reserves (212) in hectares in % Total area 1'771 1 Housing units / ha Potential housing units* Potential population* Habitable area 1'518 86% 62'594-67'91 141'8-153'41 Building zone % 1) 24 of which built-up % - 89% 2) of which not built-up % - 15% 2) 1'436-2'267 3'236-5'11 Residential zone % 2) 44 of which built-up % - 89% 3) of which not built-up % - 17% 3) 818-1'366 1'843-3'78 Working zone 64 23% 2) of which built-up % - 8 3) of which not built-up % 3) * At constant average building density and constant surface consumption per housing unit and per person; based on data as of ) In % of the habitable area; 2) In % of the building zones; 3) In % of the residential/working zones. Sources: ARE, BFS, modelling Fahrländer Partner. Change in undeveloped building zones Residential decrease (-1)* Work-use decrease (-1)* * strong decrease (-2), decrease (-1), constancy (), increase (1) of undeveloped building zones. Sources: ARE, BFS, modelling Fahrländer Partner. Share of building zones in 212 by public transport groups MS Zug FPRE region Zurich Sources: ARE, BFS, modelling Fahrländer Partner. PTG A PTG B PTG C PTG D no PTG Residential zone MS Zug FPRE region Zurich Sources: ARE, BFS, modelling Fahrländer Partner. of which built-up of which not built-up

20 12 Perspectives 23 (Scenario «unchanged urban planning») Perspectives 23 (housing) commune of Cham Stagnation Trend Prosperity Population growth '66 1.1% 2' % 3' % Evolution number of households ' % 1' % Additional demand: rental apartments % % % - lower segment - +5% to + (2) - - average segment - +5% to + (2) - - upper segment - +1% to +5% (1) - Additional demand: private properties % ' % - lower segment - > (4) - - average segment - > (4) - - upper segment - + to + (3) - Relative appreciation Potential RA Considerable potential (4)* *-5 to -2: Potential risk of loss, -1: Under-performance, : Neutral, 1 to 2: Potential existing, 3 to 4: Considerable potential, 5: High potential. Source: Prospective model 217 Fahrländer Partner. Perspectives 23 (housing) MS region Zug Stagnation Trend Prosperity Population growth '37 1.1% 19' % 26' % Evolution number of households ' % 11' % 14' % Additional demand: rental apartments ' % 5' % - lower segment - +5% to + (2) - - average segment - +5% to + (2) - - upper segment - +5% to + (2) - Additional demand: private properties ' ' ' % - lower segment - > (4) - - average segment - + to + (3) - - upper segment - + to + (3) - Source: Prospective model 217 Fahrländer Partner. Evolution of the number of households 9' 8' 7' 6' 5' 4' 3' 2' 1' Perspectives 23 (housing) per year, trend Population growth p.a. 174 Evolution number of households p.a. 14 Additional demand: rental apartments p.a. 42 Additional demand: private properties p.a. 59 MS region Zug Population growth p.a. 1'284 Evolution number of households p.a. 795 Additional demand: rental apartments p.a. 345 Additional demand: private properties p.a. 437 Stagnation Trend Prosperity Source: Prospective model 217 Fahrländer Partner. Promising segments of demand in the housing market (commune of Cham) Main segment Complementary segment 1 Complementary segment 2 Source: Prospective model 217 Fahrländer Partner. 9 Urban elite 8 Professional elite 3 Transitional-alternative

21 13 Perspectives 23 (Scenario «restrictive urban planning») Perspectives 23 (housing) commune of Cham Stagnation Trend Prosperity Population growth '66 1.1% 2' % 3' % Evolution number of households ' % 1' % Additional demand: rental apartments % % % Additional demand: private properties % % % Source: Prospective model 217 Fahrländer Partner. Perspectives 23 (housing) MS region Zug Stagnation Trend Prosperity Population growth '37 1.1% 18' % 28' % Evolution number of households 1' % 8' % 12' % Additional demand: rental apartments ' % 4' % Additional demand: private properties 1' ' % 7' % Source: Prospective model 217 Fahrländer Partner. Evolution of the number of households, commune of Cham 8'3 7'8 7'3 6'8 6'3 Perspectives 23 (housing) per year, trend Population growth p.a. 174 Evolution number of households p.a. 72 Additional demand: rental apartments p.a. 23 Additional demand: private properties p.a. 47 MS region Zug Population growth p.a. 1'264 Evolution number of households p.a. 54 Additional demand: rental apartments p.a. 184 Additional demand: private properties p.a ' Stagnation Trend Prosperity Source: Prospective model 217 Fahrländer Partner. Promising segments of demand in the housing market (commune of Cham) Main segment Complementary segment 1 Complementary segment 2 Source: Prospective model 217 Fahrländer Partner. 9 Urban elite 8 Professional elite 6 Established-alternative «Ordinance on second homes» Number of primary homes (including apartments considered as primary homes) 6'696 Number of secondary homes 457 Secondary home ratio 6.4% Commune is affected by the ordinance No Sources: ARE (apartment inventory from , evaluation by ).