Apartments were slightly cheaper in August
Published: Wednesday, Sep 18th 2024, 08:50
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In August, Swiss real estate owners offered rental apartments at slightly lower prices. Anyone looking for a new apartment in the month under review had to pay an average of 0.6% less than in July. According to the Homegate rental index published on Wednesday, asking rents fell for the first time since February 2023.
The so-called asking rents were back at the level of April. However, this is likely to be only a temporary easing, as Homegate writes in the press release.
According to the rental index, prices fell not only at a national level, but also in most cantons. The sharpest fall was in Ticino, where apartment seekers had to pay an average of 1.7% less than in the previous month. However, rents also fell in Obwalden (-1.3%), Neuchâtel and Jura (-1.2% each). In contrast, asking rents only rose in the cantons of Graubünden (+1.3%), Nidwalden (+0.9%) and Zug (+0.3%).
However, a comparison of the prices charged for apartments in August with the previous year reveals a significantly different picture: In August 2024, apartments were on average 4.2 percent more expensive across Switzerland than in the previous year, in the canton of Graubünden even 11.7 percent and in Zug 11.4 percent.
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.
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