Housing is becoming increasingly expensive: rents have risen sharply in the last few weeks

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Jean Claude RaemyEconomics Editor

The reference interest rate is increasing and living in Switzerland is becoming more expensive. This is also evidenced by the latest figures in the “Swiss Real Estate Offer Index”, which Immoscout publishes monthly together with the real estate consultancy IAZI.

Accordingly, rent demands increased by an average of 1.2 percent in all regions in November. The Greater Zurich region recorded the strongest growth (+2.4 percent), followed by Central Switzerland (+1.3 percent). Rather small increases can be seen in northwestern Switzerland (+0.4 percent) or Mittelland (+0.3 percent).

Over the last twelve months, national average asking rents have increased by 4.5 per cent. The market environment remains challenging for new tenants due to ongoing supply shortages. According to SMG (Swiss Marketplace Group) Real Estate General Manager Martin Waeber, rent increases of up to 3 percent may be experienced under current conditions as of April 2024 due to the increasing reference interest rate.

Slight price increase in housing

But buyers also need to set aside more money. Both house and apartment prices increased by an average of 0.3 percent. There were overall increases in both single-family homes (+1.1 percent) and apartments (+2.1 percent) in one year.

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The generally very high price level and low availability in the domestic market also lead to difficulties in searching for the right property.

Source :Blick

Tim

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.