At the start of 2025, asking rents moved only slightly. There were no major fluctuations compared to the previous month, while asking rents rose again compared to the previous year, in some cases significantly – although cantons with a year-on-year decline can also be observed as an exception. This is shown by the current 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 January and now stands at 129,5 points (up 0,2%). Compared to the previous year, asking rents have risen by 3,1% across Switzerland.
Change in the cantons
Looking at the cantons, there were only slight movements in January, with a maximum of plus or minus 1%. The only outlier was Schaffhausen, with an increase of 1,3% compared to the previous month. In contrast, asking rents fell in Zug (minus 1%) and Glarus (minus 0,9%) in particular. However, the declines compared to January 2024 – i.e. the previous year – are particularly striking for the cantons of Graubünden (minus 0,8%) and the combined cantons of Appenzell (minus 0,5%). While Graubünden was able to counteract the downward trend of the last two months, it still remains below the level of around a year ago. In Appenzell, on the other hand, the decline continued in January, as in the previous month.
Change in the cities
A different picture emerges in the cities analysed for the past twelve months. Here, asking rents have risen across the board, particularly in Lucerne (plus 7,7%) and Basel (plus 6,6%). In the case of Lucerne, this is despite a fall of 1,4% compared to the previous month. However, this is primarily because asking rents there jumped significantly in December, which partially corrected itself in the following month. A decline in asking rents can also be observed in Lugano in particular (minus 2,2%). Meanwhile, the strongest increase in January was recorded in Bern (plus 0,6%).
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.
