The CSL Real Estate Market Report provides facts, figures and estimates on the investment, residential and office market in Switzerland and in particular in the Zurich economic region. The CSL Real Estate Market Report is based on a broad range of rents and prices, data from statistical offices and assessments by experienced market participants, economic promoters and experts. In addition, findings from expert interviews with key players in the sector are incorporated.
 
And last but not least, it also reflects the experience our employees gain in their daily work.

SWISS RESIDENTIAL MARKET

Agglomeration Vacancy Net rents purchase prices
price band
CHF/m² p.a.
price band
CHF/m²
Aarau 2.9 % 165  –  280 4 200  –  8 400
Baden-Brugg 1.9 % 170  –  295 4 800  –  9 200
Basel 1.0 % 180  –  315 4 500  –  10 500
Bern 1.2 % 165  –  310 4 400 –  8 800
Biel/Bienne 2.8 % 150  –  245 3 700  –  7 800
Chur 1.2 % 160  –  300 4 200  –  8 900
Fribourg 1.7 % 160  –  310 4 300  –  7 600
Genf 0.6 % 240 – 510 6 600  –  16 200
Lausanne 0.7 % 195  –  415 5 300  –  12 200
Lugano 2.0 % 170  –  330 4 500  – 13 200
Luzern 1.5 % 180  –  335 5 500  – 11 500
Neuchâtel 1.4 % 160  –  290 4 200  –  8 800
Olten-Zofingen 3.8 % 150  –  245 3 600  –  7 100
Schaffhausen 2.2 % 145  –  255 4 100  –  8 200
Solothurn 2.7 % 140  –  245 3 500  –  6 500
St. Gallen 2.2 % 145  –  270 4 000  –  8 400
Thun 0.8 % 170  –  270 4 700  –  9 400
Winterthur 0.7 % 185  –  325 5 200  –  9 700
Zug 0.5 % 210  –  435 6 300 – 13 600
Zürich 1.0 % 195  –  440 5 700  – 13 500

SWISS RESIDENTIAL MARKET

New-build activity in the residential property sector continued unabated nationwide in 2018. The owner-occupier market is in robust health and enjoyed further growth in 2018. The rental apartment market, however, showed absorption difficulties and hence rising vacancy rates in most Swiss agglomerations.
 
Investment in construction is expected to maintain the same level in 2019. This will increase supply further, with the moderate immigration compared with recent years and weak real wage growth dampening demand in the rental apartment market. This particularly applies to locations with poor public
transport links. Those who want to succeed in such areas will have to tailor the supply specifically to the micro-location and the local market. Demand remains high in the economic centres.
 
Areas with good infrastructure in the agglomerations are sought after provided that the price-performance ratio is right. Nationwide, the oversupply is resulting in declining rents, with no reversal in this trend on the horizon at the present time. Demand for owner-occupier property remains high in view of the attractive interest rate environment. In the centres and areas of the inner suburbs with good infrastructure, there is still potential to be exploited. In peripheral areas, however, the restrictive mortgage lending of the banks and the increased
sale prices in recent years are manifesting themselves in greater price sensitivity. As interest rates will remain low for the time being, demand for owner-occupier property is likely to continue unabated, resulting in rising prices in good locations in particular.


 
"In view of the increased market risks, it will be all the more important to view apartments through the eyes of potential tenants rather than one’s own. Our advice is to remain calm, to trust the experience of local marketing experts and to position properties correctly from the outset."
Stefanie Bigler
Head of Residential Property Marketing, Extended board Management