Facts about the housing market in Switzerland

On 31 December 2025, Switzerland’s permanent resident population stood at 9,124,300, compared with 9,051,000 the previous year (+73,300 people, +0.8%). The population increased in all cantons. The strongest growth was recorded in Schaffhausen (+1.6%), Basel-Stadt (+1.4%) and Valais (+1.3%). The smallest increases were seen in the cantons of Glarus and Ticino (both +0.2%) as well as Bern, Jura and Neuchâtel (all +0.4%).

In 2025, the number of people aged 65 and over in Switzerland exceeded the number of those under 20 for the first time. This trend highlights the accelerating demographic ageing of recent years. The birth rate fell in 2025 for the fourth consecutive year, although the rate of decline slowed.

In 2025, 204,600 immigration entries were recorded, of which 23,100 were Swiss nationals and 181,500 were foreign nationals. Net migration (the difference between immigration and emigration) fell from 82,800 in 2024 to 77,300 in 2025 (-6.6%).

According to the reference scenario calculated by the Federal Statistical Office (FSO), Switzerland's permanent resident population is expected to rise from 9.1 million at the end of 2025 to 10.5 million in 2055. This growth will be primarily attributable to migration. Its extent will depend on socio-economic and political developments in Switzerland. In addition, the population will continue to age in the coming decades.

In addition to the reference scenario, two further scenarios have been calculated. The ‘high’ scenario assumes higher net migration, a slight increase in the birth rate and a faster rise in life expectancy. This scenario leads to a permanent resident population of 11.7 million in 2055. The ‘low’ scenario anticipates lower net migration, a slight decline in the birth rate and hardly any increase in life expectancy. If this scenario materialises, the population is expected to reach 9.3 million in 2055.

The vacancy rate fell by 0.08 percentage points from 1.08% to 1.00% within a year. This marks the fifth consecutive year of decline, with a total decrease of 0.72 percentage points since 2021.

In a comparison of cantons, the lowest vacancy rate was in Geneva (0.34%), followed by Zug (0.42%) and Zurich (0.48%). A total of 15 cantons had a vacancy rate below the 1 per cent mark. The cantons of Jura (3.03%) and Solothurn (2.05%) had the highest vacancy rates and were the only ones above the 2% mark. In 19 cantons, the rate decreased compared to the previous year, in six it increased and in the canton of Graubünden it remained unchanged.

On the reference date of 1 June 2025, a total of 37,194 unoccupied flats were available for rent. This represents a year-on-year decrease of 3,229 rental flats, or 8%. The supply of vacant rental flats has been declining steadily over the past five years.

On 1 June 2025, 3,959 vacant new-build flats (not older than two years) were advertised for long-term rent or sale in Switzerland. That was 251 units or 6% fewer than a year earlier. Most vacant flats have three (14,664 units) or four rooms (12,804 units).

At the end of 2024, there were 1.8 million residential buildings and 4.84 million dwellings in Switzerland. Half of these buildings were constructed after 1970. The canton of Fribourg has an exceptionally new building stock: 29% of its buildings date from the 21st century. In contrast, the proportion of buildings constructed during this period in the canton of Basel-Stadt is only 5%.

In 2024, 52.2% of all residential buildings in Switzerland were heated with fossil fuels (heating oil and gas), despite the steady decline in heating oil use over the last 40 years. 23% of buildings are equipped with heat pumps, a proportion that has risen sharply. 12.4% of buildings were heated with wood and 7.1% with electricity. While most buildings constructed before 2001 are heated with heating oil, this applies to less than 2% of buildings constructed since 2011. Almost three-quarters of buildings constructed since 2011 have a heat pump installed, compared with less than 11% of buildings constructed before 1971. In 2024, 28.9% of residential buildings in Switzerland used electricity to heat their water. The second most common energy source for hot water production was heating oil, with a share of 26.1%.

The average household size is 2.18 people. Around 36% of all permanently occupied dwellings are owner-occupied. This is the lowest proportion of any European country. The home ownership rate rose steadily between 1970 and 2015, mainly due to the rapid growth in condominium ownership. Since then, a slight decline has been recorded due to the level of prices reached and the resulting difficulty in meeting affordability guidelines.

In 2024, 2.5 million households were renting. The urban cantons of Basel-Stadt (85%) and Geneva (78%) have the highest proportion of rented dwellings, whilst the cantons of Valais (43%) and Jura (48%) have the lowest.

The two increases in the reference mortgage rate in 2023 led to rent adjustments for some tenants. The average net rent for a four-room apartment stood at CHF 1,708 at the end of 2024, which is CHF 38 more than at the end of 2023. However, rents vary significantly depending on the length of tenancy. Furthermore, new flats are significantly more expensive than older flats of the same size. Households that had been living in a four-room apartment for more than twenty years paid on average almost CHF 1,000 less than those who had recently signed a tenancy agreement for a new apartment of the same size (CHF 1,355 net rent compared with CHF 2,304). The highest rents were found in the cantons of Zug, Zurich and Schwyz. The cheapest cantons are Jura, Neuchâtel and Uri.

In 2025, 45% of rented flats were privately owned. Two-thirds (67%) of flats built before 1946 were privately owned, whereas for those built after 2000 the figure was just under a third (33%).

https://www.jll.com/en-ch/insights/market-perspectives/switzerland-living

_{Source: Federal Statistical Office (FSO), Federal Office for Housing (FOH)}