In Switzerland, rents for apartments on the market continued to rise in October. However, there were clear differences in the individual cantons.
Across Switzerland, rents for new and re-rentable apartments – the so-called asking rents – rose by 0.4% in October compared to the previous month, according to the Homegate rent index published on Monday. The index advanced by 0.5 points to 123.8 points. On an annual basis, asking rents rose by an average of 4% in October in Switzerland.
+ Hundreds demonstrate against rising rents in Zurich
There were clear differences in the development of rental prices in the individual cantons. According to Homegate, the changes compared to September ranged between minus 0.5 and plus 2.9%. Rents rose particularly strongly in October in the cantons of Glarus (+2.9%), Schaffhausen (+2.3%) and Uri (+1.8%), while Obwalden and Nidwalden (both -0.5%) ) and Schwyz (-0.3%) recorded declines.
Compared to the same month last year, however, price changes showed an upward trend in all cantons. Over the year, rents rose the most in Glarus (+7.5%), Valais (+6.9%), in the two cantons of Appenzell (+6.6%) and Zurich (+6.3%).
+ ‘Myth’ of rising Swiss rents under scrutiny
In the cities, the fluctuations were less severe in October. There was a relatively significant increase in Lucerne (+1.8%). Rents only fell in St Gallen and Geneva (-0.4% each). Over the year, the city of Zurich remains the leader with an increase of 10%, followed by Geneva (+4.3%).
The Homegate rent index for asking rents is collected 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-rentable apartments based on current market offers.
Full story here Are you the author?
Tags: Business,Featured,newsletter
