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The majority of apartment rents increased in the third quarter of 2023. Newly built apartments in particular are becoming more expensive, while the level of older buildings remains almost the same.
Rents on newly signed leases for new apartments across Switzerland increased by 0.9 percent from July to September compared to the second quarter. Consulting firm Fahrländer announced this on Friday. In contrast, rents for old apartments fell by 0.1 percent.
Market rents increased compared to the previous quarter in all regions except southern Switzerland. Newly rented flats there became cheaper by 1.2 percent, and old buildings by 3.5 percent.
Fahrländer writes that rents will likely continue to rise in the coming months. Continued strong demand continues to be met by low levels of new construction activity.
Regional differences in office space
Rents in the office market increased by 3.6 percent in the third quarter compared to the previous quarter. Office prices increased by 1.7 percent compared to the same quarter last year.
There are many different regional developments. The most significant increases were recorded in Basel (+4.4 percent) and Zurich (+4.1 percent). Significant reductions in office rental prices are observed in southern and eastern Switzerland (-8.9 percent and -6.9 percent respectively).
According to the information obtained, Fahrländer publishes quarterly quality-adjusted rental price indices based on newly signed lease agreements. Therefore existing tenancies are not taken into account. (SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
