The number of new buildings has increased sharply in Zurich

According to the latest data, 3,047 new apartments were built in Zurich in 2023. This is the highest level of new construction the city has seen since 2018 and reflects an increase of 481 housing units over 2022. More than half of the new apartments were built by private firms.
Most of the new buildings in the city were concentrated in the following areas:
Wollishofen (Kreis 2)
Albisrieden and Altstätten (Kreis 9)
Oerlikon, Seebach and Affoltern (Kreis 11)
Schwamdingen and Hirzenbach (Kreis 12)
Viticon (Kreis 7)
Not a single new residential complex was built in the center of Zurich and Fluntern.
The Swiss city is also seeing an increase in new construction projects.
The types of apartments being built are also changing, with new apartments for families being replaced by smaller units designed for single workers or couples.
Currently, one-, two- and three-room apartments make up three quarters of all new housing stock, and 51% of new housing units in Zurich consist of just two rooms.
Despite the high level of construction, rents in the city are expected to remain high.
Rents in Switzerland rose by an average of 4.7% in 2023, the strongest price increase since the study began in 2009, according to the analysis.

Prices have risen fastest in Zurich, with asking rents for properties in the city increasing by 13% last year. Rents in Zurich rose the most due to strong demand for housing, driven by a large number of jobs and a relative shortage of housing compared to demand.

Based on the above, experts predict that price increases will most likely continue in 2024.