Journalist Raphael Meier Interviews Claude Ginesta<\/strong><\/p>\n\n Claude Ginesta on the lack of building land, invasive plant hunters in his garden\u2014and houses that even he can’t get rid of.<\/p>\n\n When a multimillion-dollar villa changes hands on the Gold Coast, Claude Ginesta is often not far away. A resident of K\u00fcsnacht, he has headed the family business of the same name since 2010, now in its third generation of leadership. Under his leadership, the company has grown significantly and now brokers real estate throughout Switzerland. Ginesta will soon open its tenth office in Davos. In this interview, the 53-year-old talks about a shortage of building land, hard-to-sell villas, and invasive plants in his own garden\u2014and doesn\u2019t hold back. <\/p>\n\n Mr. Ginesta, other people saved up to buy a moped when they were 14. You bought a tennis racket stringing machine. Why? <\/strong><\/p>\n\n The racket cost me 1,200 francs back then. My parents told me I was crazy. But I quickly recouped the investment: After school, I restrung two or three racquets every day\u2014and charged 17 francs each time. In the first season alone, I restrung over 200 racquets that way. Not a bad amount of pocket money. <\/p>\n\n Was that what drove you?<\/strong><\/p>\n\n Money has never been my top priority. I’ve just always enjoyed working. Even today, you can still find me at the office almost every Sunday. Saturday is family day. <\/p>\n\n Today, you sell villas worth millions. You’ve been doing this for almost exactly 25 years. Do you remember the early days? <\/strong><\/p>\n\n My father was the big shot. He knew corporate lawyers, entrepreneurs, and celebrities. For the first few years, I tagged along with him a lot. After a few years, I started handling my own clients. One of them once told me quite bluntly, \u201cYou\u2019re not doing a bad job, but you\u2019re still not quite at your father\u2019s level.\u201d <\/p>\n\n Who bought homes on the Gold Coast in the early 2000s?<\/strong><\/p>\n\n Before the flat-rate taxation system was abolished in the canton of Zurich in 2010, we had many wealthy foreign clients\u2014Germans, but also Russians. When asked what they wanted to spend, they often simply replied, \u201cThe sky\u2019s the limit.\u201d <\/p>\n\n Then came the turning point.<\/strong><\/p>\n\n Yes. The financial crisis and the elimination of flat-rate taxation in the canton of Zurich marked a turning point. About half of these clients moved away, and new buyers were few and far between. In 2009, we had only two transactions in a single quarter, instead of the usual thirty or so. That\u2019s when we realized how quickly a market can turn. <\/p>\n\n How’s it going today?<\/strong><\/p>\n\n Right now, we have an extremely resilient market and a solid economy. At the same time, homeownership is virtually out of reach for many people unless they inherit a home. <\/p>\n\n Does that bother you? The name Ginesta isn’t exactly associated with affordable housing. <\/strong><\/p>\n\n What upsets me: I\u2019m not just \u201cthe luxury real estate agent.\u201d There are more than 80 of us at Ginesta. Three colleagues and I focus on the premium segment. Otherwise, we\u2019re a real estate service provider: We appraise, manage, and provide brokerage services for properties. As an employer, I\u2019m now also feeling the housing shortage: there are hardly any employees left who can afford an apartment here in K\u00fcsnacht. <\/p>\n\n So what’s the problem?<\/strong><\/p>\n\n I recently attended the town meeting here in K\u00fcsnacht. First, there were calls to expand social housing. That\u2019s all well and good. Later, some of the same people brought several proposals regarding tree protection to the table. That\u2019s just crazy: People want more affordable housing, but at the same time they\u2019re creating new obstacles to construction. <\/p>\n\n <\/p>\n\n “This is madness: People want more affordable housing, but they’re creating new obstacles to construction.”<\/em> <\/p>\n\n That seems to bother you.<\/strong><\/p>\n\n Let me give you another example: I\u2019m currently planning to remodel my house. My architect told me, \u201cYou\u2019re lucky\u2014there aren\u2019t any birds in your house.\u201d But the houses to the left, right, and next door all have one. If certain birds are found on a property, the project can become more difficult or even impossible. That\u2019s unbelievable. We value birds\u2019 living space more than people\u2019s. <\/p>\n\n The FDP recently reignited the discussion about rezoning land for development. They said as early as 2023 that Switzerland needs new land for development. Why? <\/strong><\/p>\n\n Because we\u2019ve tied our own hands with all these initiatives and the Spatial Planning Act. In reality, it\u2019s almost impossible to rezone new land these days. So the only option left is densification. But often, the public doesn\u2019t want that either. Many simply want to preserve everything: bird and tree conservation. Whether housing is created is secondary to them. This is nothing more than a government-organized scheme to create scarcity; it can only drive prices up. <\/p>\n\n <\/p>\n\n “In fact, it’s almost impossible to rezone new land these days.” <\/em> <\/p>\n\n So, would you like to continue zoning?<\/strong><\/p>\n\n Yesterday I flew over the cantons of Central Switzerland in a helicopter. From above, I could see that Switzerland isn’t actually that densely populated. There’s still plenty of land available for development. <\/p>\n\n More land available for development is likely to lead to falling real estate prices. Is that what you want? <\/strong><\/p>\n\n If the supply increases, it will lead to a price correction. That would be wonderful. It would be great if more people could once again afford to buy their own homes. <\/p>\n\n When people are looking for a home to buy today, what do they pay more attention to than they did in the past?<\/strong><\/p>\n\n The need for space has grown. Since the pandemic and the shift to working from home, an extra room has become necessary. Children\u2019s rooms used to be 10 to 12 square meters in size; today they\u2019re more like 14 to 16. And ceiling height is a huge issue: Homes are often still built with 2.40-meter ceilings, but buyers prefer 2.50, 2.60, or even 2.70 meters. <\/p>\n\n Does the heat play a role, too? Doesn’t it get too hot too quickly behind those large windows? <\/strong><\/p>\n\n Of course, people are clamoring for air conditioners. My advice to everyone is: Just have one installed. In the summer, the solar panels on the roof collect plenty of energy anyway. So why not cool down the apartment a little? <\/p>\n\n Let’s shift our focus to the sellers: Are there sometimes unrealistic price expectations?<\/strong><\/p>\n\n There are people who simply want too much. In those cases, we have to wish them good luck and decline the assignment. An unrealistic price doesn’t benefit anyone. <\/p>\n\n I noticed a villa right on the lake in St\u00e4fa that has been on the market since 2023. What’s going on there? <\/strong><\/p>\n\n Architect Hans Senn designed this house and thought of every detail. It\u2019s a wonderful architectural style: expensive, but incredibly stylish. People used to line up for properties like this. Today, the market for them is smaller. Many are looking for more modern homes with large windows and efficient floor plans. <\/p>\n\n So, has the house fallen out of time?<\/strong><\/p>\n\n I wouldn’t put it that way. Luxury properties can stay on the market longer. But with this property, we’re talking about a price of around 20 million francs. For example, there’s a car lift big enough for a Maybach. That’s not for everyone. However, we just had two viewings again this week. <\/p>\n\n Does Zurich’s location also play a role when it comes to luxury properties like these?<\/strong><\/p>\n\n Yes. With homes priced at around 10 million Swiss francs or more, we simply have a problem with taxes. I hear from many wealthy clients: \u201cI\u2019m looking to buy a home\u2014but please, not in the canton of Zurich.\u201d The tax authorities are doing everything they can to keep such clients from coming here. <\/p>\n\n Taxes, zoning, tree protection: Why do you find yourself at odds with the authorities so often?<\/strong><\/p>\n\n I’m not a member of any political party, but I like to speak up when things go wrong. Robert F. Kennedy once said, \u201cThe hottest places in hell are reserved for those who on earth nodded in agreement to everything.\u201d <\/p>\n\n On LinkedIn, you recently expressed frustration over a letter from the municipality. You were informed that Henry’s honeysuckle, an invasive species, was growing in your garden. What bothered you about that? <\/strong><\/p>\n\n According to municipal regulations, my garden wall must be covered with climbing plants. The previous owner did this in 2005. Now, however, we\u2019re being told to remove the plant. What exactly is the point of this warning? Why do we need a ranger paid by the municipality to patrol the neighborhoods? Either we ban and remove all invasive species\u2014or we leave them alone. <\/p>\n\n So, are you going to leave Henry’s honeysuckle alone for now?<\/strong><\/p>\n\n At the moment, yes. Using AI, I\u2019ve calculated that new border planting acceptable to the state would likely cost between 25,000 and 50,000 francs. This also includes my neighbor\u2019s cherry laurel hedge along the approximately 50-meter-long boundary. To replace all the invasive plants, we\u2019d have to tackle this together. <\/p>\n\n