Switzerland is experiencing a significant decline in housing vacancies, reaching a new record low.

As of June 1, 2024, the Federal Statistical Office reported only 51,974 vacant homes, including single-family houses, representing just 1.08% of the total housing stock.

This marks a 5.1% decrease from the previous year, with 2,791 fewer empty homes.

The primary cause is the dwindling supply of rental apartments, with only about 40,000 available for rent, a drop of 8.6% compared to last year.

While the vacancy rate decreased across most regions, Zurich saw a slight increase.

The Canton of Zug recorded the lowest vacancy rate at 0.39%, while the Canton of Jura had the highest at 2.98%.