Asking rents rise again in August

In August, asking rents rose slightly again, primarily in Nidwalden. In the rest of Switzerland, there were only minor movements in both directions. Lucerne, on the other hand, recorded the largest decline, both in the canton and in the city. 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 0,3 points in August and now stands at 131,2 points (up 0,2%). Compared to the previous year, asking rents have risen by 2,6% across Switzerland.

Change in the cantons
At 1,5% compared to the previous month, advertised rents rose most sharply in the canton of Nidwalden, continuing the trend that has been evident since spring. This is also reflected in the year-on-year comparison, with advertised prices in the Central Swiss canton rising by an impressive 10%. Schwyz is the second canton in Central Switzerland to show an above-average increase compared with August 2024 (up 8,4%). The only canton to see a slight decline in advertised rents during this period was Graubünden (down 0,2%).

Change in the cities
A look at the cities analysed reveals a more diverse picture. Although advertised rents in the city of Lucerne fell significantly by 2,1% compared to the previous month, the city recorded the largest increase compared to twelve months ago, although advertised rents rose in all eight cities during this period. In Lucerne, this decline is primarily due to a temporary increase in June and July 2025, which has now returned to normal (at the same time, it is notable that the canton of Lucerne is the only one to show a significant decline in advertised rents in August 2025, down 0,6%). Meanwhile, the largest increase in advertised rents in cities in August was recorded in Lugano (up 1,8%), reaching a new high.

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.