Swiss Vacancy Rate Drops to 0.93 Percent

The vacancy rate in Switzerland fell to 0.93 percent on June 1, 2026. This marks the first time the figure has dropped below one percent since 2013. The number of empty homes stood at 45,493 units. This represents a decrease of 2,962 units from the previous year. The decline equates to a 6.1 percent drop in available housing.

The market has experienced six consecutive years of declining vacancy rates. Since 2021, the rate has fallen by 0.79 percentage points. The Federal Statistical Office reports that this squeeze coincides with rising rents. Ownership of rental housing has shifted significantly toward institutional investors.

Institutional investors capture market share

Institutional investors increased their share of the rental housing stock from 31 percent to 44 percent between 2000 and 2023. This group includes pension funds, insurers, and property companies. Private and non-profit landlords lost market share during this period. The shift reflects a broader trend of professionalization in the Swiss housing sector.

Of the total vacant homes, 34,690 were available for rent. Another 10,803 units were listed for sale. Vacant rental properties declined by 6.7 percent year-over-year. Vacant homes for sale fell by 4.1 percent. The trend extended to newly built homes and detached houses.

Regional disparities persist in supply

Six of Switzerland’s seven major regions recorded lower vacancy rates. Eastern Switzerland, north-western Switzerland, and Ticino saw the sharpest declines. Greater Zurich was the only region where the rate increased, edging up to 0.52 percent. Fifteen cantons now report vacancy rates below one percent.

Zug recorded the lowest vacancy rate at 0.20 percent. Geneva followed at 0.31 percent, while Obwalden stood at 0.38 percent. Vaud recorded a rate of 0.87 percent. Jura had the highest vacancy rate in the country at 3.35 percent. Solothurn followed with a rate of 1.91 percent.

Affordability concerns grow among tenants

The Swiss Tenants’ Association warns that new construction does not guarantee affordability. Much of the new supply is concentrated at the expensive end of the market. Cheaper housing stock is steadily disappearing from the market. The association argues that this dynamic exacerbates the housing squeeze for lower-income households.

The association also accused some landlords of exploiting the shortage. It cited demands for excessive rents and breaches of legal limits on returns. The data comes from the GN auto markets/housing: rental market report. The figures confirm a sustained tightening of the Swiss housing market.