Switzerland sees slight rise in rent prices
The average cost of renting a home in Switzerland increased in May, after falling in previously months due to the outbreak of the coronavirus.
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While the cost of rents on average increased by 0.5 percent in May, this largely offset the decrease of 0.7 percent seen in April.
The news wasn’t all bad for tenants with the costs of condominiums falling slightly over the same period.
The options grew for people searching for a new apartment, with the number of available rentals rising by 3,000 from April to May.
READ: Eight things you need to know before renting in Switzerland
The current figure of 20,000 available apartments across Switzerland is roughly the same as that seen before the outbreak of the coronavirus in February.
The data was produced by Swiss property firm ImmoScout24 and reported in Swiss media outlet Watson.
Buying a house also more expensive
The news was also bad for anyone looking to buy, with a slight increase in property prices over the set period.
Prices rose by 0.8 percent for single-family houses in May, however condominiums fell by 0.6 percent over the same period.
On a year-to-year comparison, prices have increased even more - with condos rising by 1.4 percent and single-family homes rising by 2.4 percent.
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While the cost of rents on average increased by 0.5 percent in May, this largely offset the decrease of 0.7 percent seen in April.
The news wasn’t all bad for tenants with the costs of condominiums falling slightly over the same period.
The options grew for people searching for a new apartment, with the number of available rentals rising by 3,000 from April to May.
READ: Eight things you need to know before renting in Switzerland
The current figure of 20,000 available apartments across Switzerland is roughly the same as that seen before the outbreak of the coronavirus in February.
The data was produced by Swiss property firm ImmoScout24 and reported in Swiss media outlet Watson.
Buying a house also more expensive
The news was also bad for anyone looking to buy, with a slight increase in property prices over the set period.
Prices rose by 0.8 percent for single-family houses in May, however condominiums fell by 0.6 percent over the same period.
On a year-to-year comparison, prices have increased even more - with condos rising by 1.4 percent and single-family homes rising by 2.4 percent.
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