Living space Vacancy rate increases marginally in the canton of Zurich

The number of vacant apartments in the canton of Zurich has increased slightly - but the vacancy rate remains "at a low level", according to a statement from the Canton of Zurich Statistics Office on Wednesday.

While around 4,100 apartments were still unsold or rented in the canton in 2023, 4,400 apartments were vacant throughout the canton in 2024. The vacancy rate has thus officially increased from 0.53 to 0.56 percent, which the statistics office describes as "virtually unchanged".

No easing on the housing market

In the previous three years, the proportion of empty apartments in the total housing stock in the canton of Zurich had fallen, in some cases significantly, according to the press release. Zurich's municipalities have now reported slightly higher vacancy rates again.

This is likely due to residential construction. The number of newly built apartments minus the number of demolished apartments has returned to the long-term average. In the two previous years, however, this residential construction balance was clearly below average - in other words, less living space was created.

In its press release, the Statistical Office of the Canton of Zurich writes that the vacancy rate has "stabilized". Whether a trend reversal will take place and more empty apartments will be available in the future is not yet foreseeable.

The data currently available suggests that residential construction is more likely to stagnate or even decline. "If demand remains the same, this would not lead to an easing of the housing market."

Few vacant apartments in large cities

The fewest vacant apartments were registered in the cities of Zurich and Winterthur. The vacancy rate there is 0.07 and 0.14 percent respectively. In the Glattal and Zurich Oberland, the rate is highest at 1.10 and 1.07 percent respectively.

The slight increase in vacancy rates affects almost all apartment sizes. Only one- and five-room apartments have fewer vacancies than in the previous year. Overall, however, the differences between apartment sizes remain small.

The vacancy census takes place annually; it records how many apartments are neither rented nor sold on June 1. It therefore does not reflect how many apartments come onto the market, as the city of Zurich states in a press release.

For the city of Zurich, the statistics for June 1 show 169 empty apartments, which represents a slight increase of 25 compared to the previous year. However, around 2,000 apartments come onto the market every month. "The majority of apartments find tenants or buyers immediately."

SDA