Geneva faces an ongoing housing crisis. Young people are fleeing the canton, which has become prohibitively expensive for modest wage earners.

No reprieve in sight for Geneva’s housing crisis:

Geneva faces an ongoing housing crisis.
Young people are fleeing the canton, which has become prohibitively expensive for modest wage earners.
Geneva’s housing market is closed to newcomers, shuts out the young and the exodus towards neighbouring France “continues inexorably”.
A third of the canton’s apartments have been under-occupied for the past decade, intensifying the “inequalities,” he says.
These will only be aggravated in the coming years because developers continue to produce large apartments, and also because Mark Muller, the Liberal party member and cabinet minister responsible for housing, favours the development of owner-occupied condominiums rather than rental housing.

Source:
http://www.swisster.ch/guide/no-reprieve-sight-geneva%E2%80%99s-housing-crisis.html