Residential rents slightly lower in the third quarter
Published: Friday, Oct 25th 2024, 14:20
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Rents for newly built apartments remained stable or fell slightly in almost all regions of Switzerland in the third quarter compared to the previous quarter. In a year-on-year comparison, however, rents have risen significantly.
Rents for new buildings in Switzerland as a whole fell by 0.7 percent in the third quarter compared to the previous quarter, as reported by the consultancy firm Fahrländer Partner Raumentwicklung (FPRE) on Friday. Rents for older apartments fell by 0.3 percent. Compared to the same quarter last year, however, rents have risen significantly. The increase was 5.0 percent for both new and old apartments.
A look at the regions shows a predominantly stable or declining trend compared to the previous quarter. Only the Alpine region recorded an increase in prices (+1.1%). The Zurich (-1.0%), Lake Geneva (-0.9%) and Central Plateau (-0.8%) regions, for example, recorded declines.
Rents for newly occupied office space also fell slightly overall compared to the previous quarter (-0.6%). Compared to the same quarter of the previous year, the trend remained stable (+0.1%). Increases were recorded in the Lake Geneva (+2.1%) and Eastern Switzerland (+1.1%) regions. By contrast, office rents fell in Basel (-2.2%), Zurich (-1.3%) and Southern Switzerland (-0.9%).
©Keystone/SDA
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