A sharp rise in rent in December 2022 (+1.1%) left the average Swiss rent 4.3% higher than at the beginning of 2022, according to the Swiss Real Estate Offer Index, published on 4 January 2023 by SMG Swiss Marketplace Group. This annual jump of 4.3% exceeds the annual CPI increase of 2.8% announced this week.
Increases varied significantly by region. The highest rent rise was recorded in Ticino (+8.4%). The jump in Greater Zurich (+6.1%) was also above average. Around Lake Geneva, a typical hot spot, rents rose by 3.8%. Across all the other regions, increases were lower.
In addition, buying a home became more expensive. Across 2022, average home prices rose by 4.7%. Apartments led the way with an average price increase of 6.2%. During December 2022, stand alone homes leapt 1.4% in price.
So far rising mortgage rates appear to have had little impact on home prices, said Swiss Marketplace Group.
More detailed data by building type and region can be found here.