Asking prices for new houses in Switzerland reached new heights in February 2022, while the cost of renting has also seen significant increases. Experts believe that the costs will continue to increase as the year progresses.

Cost of housing in Switzerland reaches record high

The price per square metre of floor space in Swiss condominiums increased by 1,4 percent in the last month alone to 8.156 Swiss francs. Single-family homes also saw an increase, now costing 7.241 Swiss francs per square metre.

The latest data, commissioned by the Swiss Real Estate Offer Index, said that only a large increase in the interest rates of mortgages - and therefore a large increase in the cost of buying a house - would contain price rises. However, due to the deteriorating situation in Europe regarding Russia and Ukraine, the report called on Swiss banks to hold back on raising interest rates for the time being.

Rent rises in Zurich while Ticino sees rent costs fall

In the rental sector, rents rose again by 0,7 percent overall in the last month, with rises recorded across many Swiss cities. The biggest increases were seen in Canton Zurich, which saw a 1,6 percent rise in the average cost of rent over the last month.

However, not all rent costs increased during the month. Eastern Switzerland, which includes the cities of St. Gallen, Rorschach and Sargans, saw a small decline of 0,1 percent in February, while Canton Ticino saw a considerable decline of 0,6 percent.