Vacancies fall for the third year in a row: Flats are becoming scarcer

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Will there be a housing shortage soon? The vacancy rate in Switzerland has fallen for the third year in a row. According to the number of vacant apartments of the Federal Statistical Office (BFS), there were 6,731 fewer vacant apartments on June 1, 2023 than in the previous year. This corresponds to a decrease of 10.9 percent.

BFS reported that vacancies fell the most in the cantons of Aargau (-918 units), Bern (-816 units) and Ticino (-773 units). As in the previous year, the highest number of vacant apartments was seen in the canton of Bern with 7 thousand 817 residences. However, the cantons of Geneva (+130 units), Lucerne (+124 units), Jura (+100 units), Zug (+58 units), Nidwalden (+16 units) and Basel had more vacancies than a year ago. -Landschaft (+6 units) reported.

Geneva and Zug were most affected

The vacancy rate across Switzerland fell by 0.16 points, from 1.31 percent to 1.15 percent. There were fewer vacant apartments in all seven major Swiss regions than a year ago, according to the BFS. The biggest decreases in vacancy rates compared to the previous year were in Ticino (from 2.49 percent to 2.17 percent), Eastern Switzerland (from 1.42 percent to 1.17 percent) and Espace Mittelland. (from 1.82 percent to 1.61 percent) was observed in large regions. .

In the cantonal comparison, the two cantons come last: the lowest vacancy rates were seen in the cantons of Zug and Geneva, with 0.42 percent. In the canton of Obwalden (0.43 percent) this rate was also below half a percent. In 21 cantons, vacancy rates decreased compared to the previous year.

Only five cantons have more vacancies

In contrast, only five cantons experienced an increase: the canton of Jura (3.17 percent with +0.21 points) showed the largest increase and therefore the highest number of vacant apartments in Switzerland. Vacancy rates above 2 percent were also seen in the cantons of Solothurn (2.39 percent) and Ticino (2.17 percent).

Additionally, a total of 44,213 vacant flats were offered for rent, according to BFS. This corresponds to an annual decrease of 8,343 rental units, or a decrease of 15.9 percent. The supply of vacant new apartments no older than two years has also decreased. As of the reporting date, only 4,131 newly built apartments were placed on the market. This means 732 apartments, or 15.1 percent fewer than a year ago.

There are more single-family homes on the market

There is also good news when it comes to real estate purchases: the number of houses offered for sale increased by 18 percent compared to the previous year. A total of 10,552 vacant flats were advertised for sale. BFS also counted 6,124 uninhabited single-family houses placed on the market across Switzerland. This corresponds to an increase of 795 units (+14.9 percent) compared to the previous year.

Compared to the previous year, there was a decrease in the number of vacant apartments, especially 1 to 3 room apartments. The supply of vacant 4-room apartments has also decreased. In contrast, larger apartments with five or more rooms were offered at the reporting date. (Snap)

Source :Blick