Rental costs in Switzerland reach a historic all-time high
A new report by the Zürcher Kantonalbank (ZKB) and Homegate has found that the cost of renting a house or apartment in Switzerland has reached a record high. The Swiss bank said that average rental prices across the country are now 2,6 percent higher than they were a year ago, with the biggest rises recorded in Swiss cities.
Rental costs in Switzerland reach an all-time high
According to the study, reported by 20 Minuten, rental costs across the country have risen by 2,6 percent on average between March 2022 and 2023. The corresponding real estate index has risen to 120,2 points, a new record for the ZKB study.
The skyrocketing prices between February and March follow a few months of relative stability in the Swiss housing market which saw the cost of buying a house decline while the price of renting rose gradually. Now, the study reported that prices have risen significantly in 18 of the 26 Swiss cantons.
Which Swiss canton has seen rental costs rise?
When it comes to annual rent rises, only one canton has seen rental costs fall between March 2022 and 2023: Zug, which registered a 2 percent fall in costs. All others have seen rental costs rise, with four (Glarus, Valais and both Appenzells) recording annual rises of more than 4 percent.
Despite this, with the exception of Nidwalden (1,3 percent) and Solothurn (1 percent), monthly price rises remained below one percent in March 2023. Some cantons have even seen prices fall compared to February 2023, with rental costs in Schwyz (-1,3 percent) and Graubünden (-1,2 percent) declining the most. Read More…
