The Swiss Times - Swiss News in English

Swiss Apartment Rents on the Rise: A Regional Analysis

  • By The Swiss Times
  • 19 March 2024

February sees a mixed bag of rent fluctuations across Switzerland, with significant hikes in central cantons and diverse changes in major cities.

Swiss Apartment Rents on the Rise: A Regional Analysis
Keystone/ALESSANDRO DELLA BELLA

Asking rents for apartments in Switzerland rose again in February. However, the trend varies from region to region.

The Homegate rent index for asking rents, which is compiled by the real estate marketplace Homegate in collaboration with Zürcher Kantonalbank (ZKB), rose by 0.6 percent in February compared to the previous month, according to a statement issued on Tuesday.

Compared to the previous year, rents even rose by 5.4%. The index measures the monthly, quality-adjusted change in rents for new and re-let apartments based on current market offers.

Differences in the Cantons

There were significant increases compared to the previous month in some central Swiss cantons. For example, asking rents rose by 1.7% in the cantons of Zug, 1.5% in Lucerne and 1.4% in Schwyz.

In the canton of Zurich, the January decline is already over. According to the press release, asking rents there rose to a new high. Compared to the previous year, people there paid an average of 8.2 percent more for a new apartment.

Different Changes in Cities

The eight cities surveyed showed an “unusual picture” in February compared to the previous month, according to the report. While several cities experienced a fall in prices in January, only Zurich saw a fall in new rents of 1.1 percent this time.

According to the data, all other cities surveyed recorded an increase of up to 3.7% (Lugano). Irrespective of this likely short-term reduction in asking rents in Zurich in February, the increase since February 2022 in Zurich is 11.8%.

According to the report, asking rents also rose “across the board” in the other seven cities, with Basel showing the most moderate year-on-year increase of 2.8 percent.

©Keystone/SDA

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