Residential rents fall slightly in October
Published: Wednesday, Nov 20th 2024, 09:30
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In October, Swiss real estate owners offered their rental apartments at slightly lower prices. The development of asking rents varied considerably from canton to canton.
Overall, the Homegate index for asking rents fell by 0.4 points to 127.7 points in October. Meanwhile, rents increased by 3.2 percent compared to the previous year, as was reported in a press release on Wednesday.
Asking rents fell in 14 out of 25 cantons (the Appenzell cantons are included), i.e. in more than half of them. This was particularly marked in Zug (-2.2%), Glarus (-1.3%) and Geneva (-1%). However, advertised rents also fell by 0.7% in Zurich.
Meanwhile, with the exception of Geneva (-0.1%), asking rents have remained the same or risen in all cantons year-on-year, most notably in Schwyz with an increase of 11%.
Looking at the cities surveyed, some also recorded quite significant declines compared to the previous month. For example, asking rents in Geneva fell by 1.5%. They also fell significantly in Zurich (-1.4%) and Lausanne (-1.2%).
In contrast, there were no signs of a sustained decline compared to October 2023. On the contrary, all cities recorded a significant increase of up to 7.2% (Lucerne).
The Homegate rent index for asking rents is compiled by the real estate marketplace Homegate in collaboration with Zürcher Kantonalbank (ZKB). It measures the monthly, quality-adjusted change in rental prices for new and re-let apartments based on current market offers.
©Keystone/SDA
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