A demonstration is currently taking place in Zurich due to the proposed renovation of three "Sugus" buildings. These buildings are valued at 200 million francs and are located a short distance from Zurich main station.
Currently, there are 105 apartments in these buildings with rents ranging from 1,000 to 2,300 francs per month. However, if the refurbishment plans go ahead, rents could potentially double, with estimates suggesting that new prices could reach 5,000 francs for updated units.
There has been investor interest, but an offer of 75 million francs has been deemed insufficient by "Sugus" manager Goran Zeindler and heiress Regina Bachmann. The owners anticipate a significant increase in property value after the renovations, which are expected to include extensive updates such as pipe replacements. The media response to this situation has been intense, leading to Bachmann withdrawing from public view and Zeindler's online presence being taken offline.