Real Estate Residential rents fall slightly in October
In October, Swiss real estate owners offered their rental apartments at slightly lower prices. The development of asking rents varied greatly from canton to canton in some cases.
20.11.2024, 08:13
SDA
Overall, the Homegate index for asking rents fell by 0.4 points to 127.7 points in October. Meanwhile, rents increased by 3.2 percent compared to the previous year, as was reported in a press release on Wednesday.
Rents on offer fell in 14 out of 25 cantons (the Appenzell cantons are included), i.e. in more than half of them. This was particularly evident in Zug (-2.2%), Glarus (-1.3%) and Geneva (-1%). However, advertised rents also fell by 0.7% in Zurich.
Meanwhile, with the exception of Geneva (-0.1%), asking rents remained the same or rose in all cantons year-on-year, with Schwyz seeing the biggest increase of 11%.
In terms of the cities surveyed, some also recorded quite significant declines compared to the previous month. For example, asking rents in Geneva fell by 1.5%. They also fell significantly in Zurich (-1.4%) and Lausanne (-1.2%).
In contrast, there were no signs of a sustained decline compared to October 2023. On the contrary, all cities recorded a significant increase of up to 7.2% (Lucerne).
The Homegate rental 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.
