Immigration influences rents in metropolitan areas
Rental prices in the ten largest Swiss cities have developed in opposite directions over the past five years. In the metropolises, prices rose sharply. In smaller centers, prices fell. The reason for this is the exodus from the smaller to the larger centers.
"The gap in apartment rental prices in the Swiss metropolises is widening," Comparis introduces a statement on a study on rental price developments over the past five years. The online comparison service evaluated more than 683,000 advertisements from 2017 to 2021 for them. According to the results, the average rents in the ten largest Swiss cities developed in opposite directions. "The main reason for the development is the migration away from the smaller towns to the large centers," Comparis real estate expert Leo Hug is quoted as saying in the press release.
In major cities such as Geneva, Zurich and Lucerne, rental prices rose sharply over the reporting period. With an increase in the median price from CHF 3,360 to CHF 3,500, Geneva recorded the highest growth for 4.5-room apartments. The average rental price for 3.5-room apartments also increased the most in Geneva, from CHF 2,410 to CHF 2,640. The prices for 2-room apartments rose the most in Lucerne in the reporting period, by 4.8 percent to CHF 1,300. Currently, however, you have to dig the deepest into your pocket in Zurich at CHF 1,650 for a 2-room apartment.
The Comparis analysts observed the most significant declines in median rents in Lugano. Here, the average rental price for large apartments fell from 1,900 to 1,700 francs, for medium-sized apartments from 1,650 to 1,450 francs and for small apartments from 1,295 to 1,150 francs. At CHF 985, a 2-room apartment is currently the cheapest to rent in Biel.
The analysts give the median as the mean rent. In contrast to the calculated average, the median represents the mean value across all rental prices.