Basel, Switzerland – Two former bankers are using social media videos to explain the increasingly difficult realities of homeownership in Switzerland, reaching an audience of up to 900,000 viewers. Gazmend Ismaili and Tobias Fringeli, founders of the independent mortgage advisory firm IMMANO, are gaining traction with their straightforward approach to complex financial topics, particularly among younger audiences.
The pair present financial calculations on flip charts, often filmed in public locations like the Rhine ferry or in Basel’s Dreimäli neighborhood, to illustrate the financial hurdles facing prospective homebuyers. “Our trademark is clear communication with numbers,” explained Fringeli in a recent interview. “We honestly show what homeownership costs and then facilitate people find a realistic path to get there.”
According to IMMANO, the firm has already accompanied over 130 homeowners through the purchase process and brokered more than CHF 100 million in mortgages over the past two years. They’ve expanded their team to include three additional employees to meet growing demand. “People come to us for advice because they saw our videos,” Ismaili said. “We’re filling a huge knowledge gap.”
The videos highlight the significant savings required for a down payment and the impact of rising property prices. Ismaili stated, “For a mortgage on a 1.5 million franc house, a typical earner would essentially have to save their entire life.” They also point out that many potential buyers are unaware of how banks calculate affordability, often using a five percent interest rate rather than the actual rate.
Statistics from the Basler Kantonalbank (BKB) show that only 2 out of 100 residents of Basel between the ages of 30 and 40 meet the affordability criteria for a 1.3 million franc apartment. Ismaili attributes this to a cultural shift where young people often delay saving while pursuing education and prioritizing leisure time. Fringeli added that increasing property prices exacerbate the problem, requiring multiple incomes to afford a home.
Basel is consistently ranked among the most expensive cities in the world. Recent evaluations place it among the top six most expensive cities in Switzerland, with average property prices around 1.8 million francs. The limited availability of properties further intensifies competition, with buyers often needing substantial financial resources to secure a purchase.
Over half of the Swiss population lives in rented accommodation, a figure that rises to nearly 80 percent in Basel. Ismaili believes that despite this trend, many people still aspire to own their homes but find it financially unattainable.
IMMANO offers free consultations and earns revenue through commissions from banks and financial institutions. Both Ismaili and Fringeli, both 28 years old, currently rent their own homes, acknowledging the challenges of entering the property market even with their financial expertise. Ismaili expressed a desire to eventually own a home along the Schaffhausen Rhine with a garden, while Fringeli also plans to save for a future purchase.
