More empty apartments in the Canton of Zurich – another trend in the city – Zurich – Limmattal

This was announced on Wednesday by the city's statistical offices and the Canton of Zurich. 7330 apartments were open at the deadline in the Canton of Zurich. The vacancy rate has risen sharply since 2012, but last year there was less growth with 730 homes than in 2014 (just under 1,200 extra homes).

Vacancy rose from 0.90% to 0.99% last year. Approximately three quarters of the extra empty apartments in the canton are attributable to the region of Glattal, Oberland and Unterland. In the Pfannenstiel region, vacancy in 2018 is the highest again. It rose by about 0.14 percentage points to 2.23 percent.

It is more built than wanted

The vacancy section reflects only a part of the apartments that come on the market is in the message. Most of the apartments are rented out or sold again immediately after the move. On the housing market there is more movement than is expressed in the empty housing number.

The renewed increase in vacancy figures only surprises at first sight. With the average occupancy of currently 2.05 people, it would have required around 53,500 new apartments in the past five years for the 110,000 new residents. In fact, more than 57,000 new apartments have been built.

Old and large apartments are out

It is striking that the vacancy of new buildings of all apartment sizes in 2018 remains at the level of the previous year. This means that more and more households are opting for a new apartment, while older apartments increasingly do not find a tenant.

Small apartments also have the lowest increase in vacancies. In contrast, the number of empty apartments with more than three rooms has risen by an average of about 13 percent.

Small free apartments in the city

Unlike in the rest of the canton, the number of vacant apartments in the city of Zurich has not increased appreciably since a few years. In the city of Zurich, vacancy fell from 0.21 to 0.20 percent.

Striking is the considerable decrease of vacant new homes: in 2017, 142 new apartments were vacant, so there are only 87 from 1 June 2018. In the city of Zurich newly created apartments usually quickly find a tenant.

Vacancy is low in all urban areas. However, there are still differences between the individual districts: the vacancy rate is highest at 0.65 percent in district 1. Practically there are no empty apartments in districts 3, 5, 9 and 11.

Switzerland-wide trend

The fact that the number of vacant apartments outside the big cities is growing significantly is a trend across Switzerland. At the same time, the five major Swiss centers were generally understated.

According to Credit Suisse, their vacancy rate last year was only 0.38 percent. The sub-offer affects Zurich, especially Lausanne. Outside the centers, however, tenants would acquire market power. The pressure on rental prices should rise.

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