As temperatures rise in February, so do asking rents in Switzerland

While asking rents got off to a hesitant start in January, this seems to have come to an end along with the rising temperatures in February. Advertised prices are rising in almost all cantons, making up for the declines of the previous month in many places. Zurich has also become the first canton to break the 150-point mark.  This is shown by the latest figures from the Homegate Rent Index.

The Homegate Rent Index for asking rents is compiled by the property marketplace Homegate in collaboration with Zürcher Kantonalbank (ZKB). It measures the monthly, quality-adjusted change in rental prices for new and re-let flats based on current market offers. Compared to the previous month, the index increased by 0,5 points in January and now stands at 132,9 points (up 0,4%). Compared to the previous year, asking rents have risen by 2,4% across Switzerland.

Change in the cantons
When looking at the development of asking rents at the cantonal level, one figure immediately stands out: 150.2. This means that the canton of Zurich is the first to break this barrier, proving that advertised rents have risen by more than 50% since January 2009. This comes after prices in the city on the Limmat rose again by 0,8% in February. Meanwhile, the largest increase was recorded in the canton of Nidwalden (up 2,9%), which also reached a new high after a decline in January. In contrast, advertised rents fell compared with the previous month only in the canton of Graubünden (down 1,8%), Glarus (down 0,6%) and Valais (down 0,5%). Compared with February last year, prices rose particularly in Nidwalden (up 6,6%), Glarus (up 5,9%) and the combined cantons of Appenzell (up 5,7%).

Change in the cities
Looking at the cities surveyed, Lucerne stands out in particular, where advertised rents rose significantly by 3,4% in February, clearly outperforming the cantonal trend (up 1,1% compared with the previous month). This is also the case for the annual trend (7,4% compared with 4,9%). This means that asking prices in the city of Lucerne have risen significantly for the first time since June 2025. Advertised rents also increased in Zurich and St. Gallen in February (both up 1,0%), while they fell by 1,2% in Lugano. Compared with the previous year, however, asking rents rose across the board in all cities without exception.

Method of quality adjustment
The development of asking rents in Switzerland is adjusted for the different quality, location and size of the flats. The advantage of this so-called hedonic method is that the real rental price development for new and re-let flats is reflected on Homegate. The Homegate Rent Index is the oldest quality-adjusted rent index in Switzerland and is considered a reference source for real estate professionals to determine the price of rental properties.