Real Estate Noticeably fewer empty apartments in Basel for the first time in ten years
There are fewer empty apartments in the canton of Basel-Stadt. The number of empty apartments has fallen by 332 to 897 units within a year. The vacancy rate is currently just under 0.8 percent. A year ago, it was still 1.1 percent. In contrast, the supply of commercial space increased by 31 percent.
16.08.2024, 10:58
SDA
The reasons for the decline include population growth and the significantly lower level of residential construction compared to the previous year, the Presidential Department (PD) announced on Friday. The decrease in the vacancy rate was somewhat greater for smaller apartments.
In a nationwide comparison, Basel's figure is higher than that of other large cities such as Bern (0.4 percent) and Geneva (0.5 percent). The 2024 vacancy rate for Switzerland as a whole is not yet available.
According to the press release, the highest number of vacant apartments as of June 1, 2024 was in the residential districts of Altstadt Grossbasel and Rosental, each with a vacancy rate of 1.3 percent. The city's Bachletten, Bruderholz and Wettstein districts had the lowest vacancy rate at 0.4 percent each.
According to Cantonal and Urban Development, there has been a "noticeable decline" in vacant apartments in the canton of Basel-Stadt this year for the first time in ten years.
More empty commercial premises
The canton recorded a higher vacancy rate for commercial premises. The supply of vacant commercial space has increased by 31 percent to 249,000 square meters. This is mainly due to the higher number of vacant office spaces, the report continues.
The vacancy rate for apartments also fell in the canton of Basel-Landschaft - from 0.9 percent to 0.7 percent. On June 1, 2024, 1087 apartments were vacant. There is also less vacant commercial space in the Basel region. The supply of vacant commercial space fell by 11 percent to 153,000 square meters.
