Offer prices for rental apartments rise again
Published: Thursday, Nov 2nd 2023, 08:10
Updated At: Friday, Nov 3rd 2023, 00:54
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These are not easy times for tenants at the moment. Due to the shortage of supply, asking prices for rental apartments rose again in October. By contrast, the situation for owner-occupied homes has eased somewhat.
Asked rents rose again in October. This is shown by the Swiss Real Estate Offer Index, which is compiled by the Swiss Marketplace Group (SMG) in cooperation with the real estate consulting firm IAZI. Specifically, asking rents rose by 0.4 percent last month, bringing the year-to-date increase to an impressive 2.7 percent.
Depending on the region, the trend deviates from the national average. While increases in eastern Switzerland (+1.1%), the greater Zurich region (+0.8%), northeastern Switzerland (+0.7%) and the Lake Geneva region (+0.5%) were above the national average, no change was observed on the Central Plateau. Central Switzerland (-0.6%) and Ticino (-0.7%), on the other hand, even saw rental price declines.
Relaxation for single-family homes
Meanwhile, the situation for owner-occupied homes is mixed. After a brief pause in the previous month, advertised prices for owner-occupied apartments rose again strongly in October, by +0.7%. In contrast, the offer prices for single-family homes (-0.3%) have decreased slightly.
The asking prices for these types of residential property also diverge over the course of the year: The asking prices for condominiums increased noticeably (+2.1%), while no further increase was recorded for single-family homes (-0.2%).
The Swiss Real Estate Offer Index is an index that shows the development of offer prices for residential property and offer rents in real time. It is compiled in collaboration between SMG and its online real estate marketplace ImmoScout24 and the real estate consulting firm IAZI.
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