Switzerland is experiencing a significant housing shortage, with the number of vacant apartments dropping for the fourth consecutive year.

As of June 1, 2024, only 51,974 apartments were unoccupied, marking a 5.1% decrease from the previous year.

This decline is largely attributed to a surge in population growth, including an influx of refugees from Ukraine.

The demand for housing is particularly acute in urban centers like Zurich and popular tourist areas, leading to a rise in rental prices by over 6% in the past year.

Despite an increase in building applications, new constructions are not keeping pace with demand, hindered by regulatory challenges and neighborhood objections.

Experts predict that the low vacancy rates will persist, necessitating a strategic response to meet the growing housing needs.