Monday, March 27, 2023

Rents are rising faster than ever

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Housing hits the budget

Rents are rising faster than ever

New figures show: In 2022, rents have risen more than ever before. Depending on the region, there was an increase of up to six percent.


Rental costs increased in all cantons of Switzerland in 2022. In the picture: The municipality of Winkel in the Zurich Unterland.

In Switzerland, tenants looking for a new apartment had to dig deeper into their pockets in 2022 in all cantons. The bottom line is that last year saw the highest annual rent increase since the figures began to be collected in 2009. And further price increases are very likely.

According to the rent index, which Homegate collects together with ZKB, asking rents – i.e. rents for advertised apartments – increased by 2.8 percent in 2022. According to the study published on Tuesday, this significant increase is the result of an increasing shortage on the housing market and higher heating and ancillary costs. In December, the index rose by 0.2 percent compared to the previous month.

All cantons affected by the increase

In addition to the record high increase in rents, the breadth of the increases was a special feature. Asking rents have not fallen in any of the cantons. Rents have risen even in cantons such as Valais, Ticino and Jura, where the search for new tenants has been rather hesitant in recent years.

Rents rose the most in Graubünden, up 6.7 percent. Cantons such as Aargau, Thurgau and Solothurn, which previously tended to show falling asking rents due to high vacancy rates, also increased.

It will be even more expensive

According to Homegate, there was no urban exodus, as was often discussed during Corona. Rents rose by 6.2 percent in Zurich, by 5.3 percent in Lugano, and by 3.7 percent each in Basel and Lucerne.

In view of the declining construction activity and the stable net immigration, rent increases are also to be expected in the new year 2023, according to the experts. Currently, especially in the urban regions, the supply is still not able to meet the demand.

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