More rental apartments advertised for the first time in three years
Published: Tuesday, Dec 17th 2024, 14:30
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For the first time in three years, more apartments have been advertised for rent on real estate portals in Switzerland. Between October 2023 and September 2024, 384,000 apartments were advertised across Switzerland.
This is around 20,000 properties or 5.6% more than in the same period last year. This is the result of the online apartment index OWI published on Tuesday, which is calculated by the Swiss Real Estate Institute on behalf of the Swiss Real Estate Association (SVIT) and the Swiss Homeowners Association (HEV). Despite the increase in the volume of listings, the average listing time has fallen by 2 days to 25 days.
A shorter advertisement period despite more advertisements indicates an increasing demand for rental apartments, it was said. One reason for this may be that tenants are reacting to rising rents by moving. Due to the two-time increase in the reference interest rate from 1.25 to 1.75 percent, the increase in rents is significantly higher than inflation during this period (0.6 percent).
More removals
The rise in rents, combined with sometimes high additional payments for ancillary costs, means that more tenants are moving to cheaper apartments. In return, they would forego living space or move to cheaper, more rural regions, wrote the SVIT association. However, the apartments that become vacant are easily absorbed by rising demand throughout Switzerland.
The increase in the volume of advertisements and a shorter advertising period is also evident in the majority of cantons. The number of advertised rental apartments increased in 21 out of 26 cantons. At the same time, only 8 cantons saw longer advertising times, most notably Appenzell Innerrhoden (+3 days) and Neuchâtel (+4 days).
In 18 cantons, on the other hand, advertising times were shorter. This is most evident in Ticino with a decrease of 18 days.
The range of insertion times between the cantons is extremely wide, it said: In the canton of Zug, the rental apartment market had dried up with 10 insertion days. In the cantons of Baselland, Appenzell Ausserrhoden, Solothurn, Neuchâtel and Jura, on the other hand, there is an oversupply of rental apartments with insertion times of between 35 and 53 days.
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