Asking rents continue to rise in October
Published: Monday, Nov 13th 2023, 10:10
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In Switzerland, rents for apartments on the market continued to rise in October. However, there were significant differences between the individual cantons.
According to the Homegate rental index published on Monday, rents for new and re-let apartments throughout Switzerland - known as asking rents - rose by 0.4 percent in October compared to the previous month. The index advanced by 0.5 points to 123.8 points. Over the year as a whole, asking rents thus rose by an average of 4 percent in Switzerland in October.
Significant differences in the cantons
There were significant differences in the development of rental prices in the individual cantons. Compared to September, changes ranged between minus 0.5% and plus 2.9%, according to Homegate. Rents rose particularly sharply in October in the cantons of Glarus (+2.9%), Schaffhausen (+2.3%) and Uri (+1.8%), while Obwalden and Nidwalden (-0.5% each) and Schwyz (-0.3%) recorded declines.
Compared to the same month last year, however, price changes were up in all cantons. Over the year as a whole, rents rose the most in Glarus (+7.5%), Valais (+6.9%), the two cantons of Appenzell (+6.6%) and Zurich (+6.3%).
The swings in the cities were less pronounced in October. There was a relatively significant increase in Lucerne (+1.8%). Rents only fell in St.Gallen and Geneva (-0.4% each). On an annual basis, the city of Zurich remains the frontrunner with an increase of 10%, followed by Geneva (+4.3%).
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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