Facts about the housing market in Switzerland

At the end of 2024, the permanent resident population of Switzerland stood at 9,051,000. This is 88,800 people (+1.0%) more than at the end of 2023. Net international migration (+82,800 people) is boosting population growth throughout Switzerland. Population growth was observed in all cantons. The strongest growth was in Schaffhausen (+1.8%), Fribourg, Valais and Thurgau (each +1.5%). The smallest increase was recorded in Ticino (+0.3%), followed by the cantons of Appenzell Ausserrhoden and Jura (each +0.4%).

According to the reference scenario calculated by the Federal Statistical Office (FSO), Switzerland's permanent resident population is expected to rise from 9.0 million at the end of 2024 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%.

In 2023, 1.4 million households lived in owner-occupied housing, representing 36% of all private households in Switzerland. Half of these dwellings were characterised by their size, with five or more rooms. This is partly due to the dominance of single-family homes, which account for almost 730,000 of all owner-occupied dwellings.

In 2024, 43% of rental dwellings were privately owned. Two-thirds (63%) of dwellings built before 1946 were privately owned, while only just under a third (32%) of dwellings built after 2000 were privately owned. The proportion of privately owned rented dwellings was by far the lowest in the canton of Geneva (23%). In the cantons of Valais (66%) and Ticino (68%), the proportion was significantly higher.

At the end of 2023, 2.4 million households (61%) in Switzerland lived in rented or cooperative dwellings. The urban cantons of Basel-Stadt (83%) and Geneva (78%) have the highest proportion of rented dwellings, while the cantons of Valais (42%) and Jura (44%) have the lowest. Rental households are mainly single-person households (45%) or couples with or without children (43%). These two household types account for 37% and 53% of all households respectively.

Taking all apartment sizes together, the average rent in Switzerland in 2023 was CHF 1,451. The highest rents were found in the cantons of Zug, Zurich and Schwyz, while the lowest rents were paid in the cantons of Jura, Neuchâtel and Valais.

The average rent for four-room apartments was CHF 1,670. The longer an apartment is occupied, the lower the rent tends to be. For example, a household that had been living in the same four-room apartment for over 20 years paid an average of CHF 1,325 per month. That is CHF 490 less than a household that signed a new lease for an apartment of the same size.

When signing a new tenancy agreement, new-build flats cost more than older flats of the same size. For a four-room flat, the difference was 28%. The average rent for new flats of this size was CHF 2,266, compared with CHF 1,774 for flats that were two years old or older.

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

_{Source: Federal Statistical Office (FSO)}