It’s getting more expensive to live in: Rents increased by up to 10 percent in May

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Rents of advertised apartments rose in Switzerland in May. All but one of the cantons saw an increase in rent demands. At the same time, rents in most cities rose more sharply than in surrounding areas.

According to the Homegate rental price index published on Thursday, the rental prices of the advertised apartments increased by 0.4 percent compared to April. The related index increased by 0.5 points to 121.2 points in May. Compared to the previous year, this results in a 3.1 percent increase in rents requested across Switzerland.

Neighborhood pays the bill

In the monthly comparison, prices rose everywhere except Bern in the eight cities surveyed. Compared to May of the previous year, advertised flats increased by more than one percent everywhere. The leaders in inflation are Zurich (plus 10.0 percent) and Lugano (plus 7.7 percent).

At the cantonal level, all cantons except Friborg showed a positive price trend in May. However, the canton in western Switzerland recorded new highs in March and April, which somewhat puts the slight month-on-month decline into perspective.

Also getting more expensive in Schwyz and Uri

In May, the Canton of Schwyz reached a new high, but tenants relocating to the rest of central Switzerland are also having to dig deeper into their pockets. During the year, Uri (up 7.8 percent) and Schwyz (up 6.9 percent) also took the top spots.

For asking for rent, the Homegate rent index is collected by the real estate market Homegate in cooperation with the Zürcher Kantonalbank. It measures the monthly quality-adjusted change in rents for new and re-rented apartments based on current market offers. (SDA/dvo)

Source :Blick