09.01.2026Oec. Magazine: "Home Sweet Home"

In the current issue of Oec. Magazine “Home Sweet Home: The Economics Behind the Places We Live”, researchers from our department shed light on how real estate markets shape society and everyday life. Readers gain insights into the affordability crisis in housing, the attractiveness of real estate as an investment, and the conditions for more sustainable urban development.

Christian Hilber, Professor of Real Estate Finance and Economics, explains the interdependencies and common misconceptions in today’s housing markets, focusing on how zoning, regulation and an inelastic housing supply contribute to high prices and affordability challenges. He discusses how policy design can either alleviate or aggravate these tensions, and what this means for cities facing rapid population and income growth.

Christian Hilber
Professor of Real Estate Finance and Economics
Website

Francisco Amaral, Assistant Professor of Real Estate Finance, draws on his research on housing markets and real estate finance to show who ultimately bears the cost when housing becomes more expensive. Using the example of rising energy and heating costs, he examines whether tenants or landlords shoulder the financial burden and how these dynamics can exacerbate inequality in the housing sector.

Francisco Amaral
Assistant Professor of Real Estate Finance
Website

In the research section, Olimpia Carradori, Prof. Zacharias Sautner, and Dr. Felix von Meyerinck demonstrate how finance can contribute to a more sustainable future. Their work analyzes how financial market actors and institutions influence decarbonization, highlighting the role of insurance and investment decisions for carbon-intensive activities and climate risk management.

More information:

The new issue of the Oec. Magazine is available as an e-paper and offers additional portraits, facts and figures, and further research stories on real estate and beyond.

Oec. Magazine #24, December 2025: https://www.oec.uzh.ch/en/current/magazine.html