A new analysis from Immoscout24 has revealed that the number of apartments for sale in Switzerland has risen to the highest level seen in nearly a decade. While rental apartments remain in severely short supply, high prices mean fewer and fewer people are in a position to buy a home.

Nearly 100.000 apartments listed for sale in Switzerland in 2024

According to the report, 99.856 apartments were listed for sale in Switzerland in 2024. This is a 19 percent increase compared to 2023 and the highest number ever reported since Immoscout24 started the study in 2015. 

This is in major contrast to the situation on the rental market, which continues to see acute shortages. In fact, a recent analysis from Wüest Partner found Switzerland has one of the worst housing shortages in Europe.

On average, apartments took 92 days to sell once listed, a 17-day increase compared to 2023. Canton Zurich (67 days, 11 more than 2023) no longer has the most eager buyers, having been overtaken by central Switzerland (62 days, +4). Sellers in Ticino have to be the most patient, with homes selling 168 days after they are listed on average.

Writing in the report, Swiss Marketplace Group director of real estate Martin Waeber noted that considering that interest rates on Swiss mortgages have been falling precipitously since mid-2024, “one would rationally expect an upturn in demand for residential property.” With this not happening, he predicted that it would take a while for the better interest rates to translate into rising demand for housing.

Why are homes to buy so plentiful and rental homes so scarce?

The new findings have also raised questions about how the supply of housing is so plentiful for buyers and so scarce for renters. For Markus Meier, director of the Swiss Homeowners’ Association, the problem lies in the fact that fewer and fewer people can afford to buy a home, and therefore demand is lower. "Financing a home remains a challenging hurdle," he told 20 Minuten, adding that "the biggest challenge is not the current mortgage interest rate, but raising capital and meeting affordability criteria."

Despite the increased supply of homes to buy, a recent report from UBS found that the cost of apartments continues to rise, and will increase further in 2025. They found that a couple with the average salary in Switzerland - approximately 150.000 francs a year combined - is only able to afford 31 percent of homes on the market, while those who earn 200.000 francs can only afford 49 percent.

The high prices are most pronounced in Zurich. There, couples with a 200.000-franc income are not able to afford anything in the city itself, but could secure a home within a 30 to 45-minute commute by public transport. UBS found that it is impossible to find anything affordable near Zurich for those who earn less.

"Real estate prices are increasingly decoupled from household incomes," UBS economist Maciej Skoczek told 20 Minuten. With fewer people able to buy, these prospective homeowners are forced to continue renting, further exacerbating shortages in the rental market.