Housing shortage, property prices, the most expensive and most affordable neighbourhoods, and rules for foreign buyers: the Zurich property market in 2026.
The Zurich property market is one of the tightest in Switzerland. On 1 June 2026, only 0.11% of homes in the city were vacant, and property prices are still rising, at a more moderate pace than before. The most expensive neighbourhoods are the old town (Kreis 1), the lakefront at Seefeld and Riesbach (Kreis 8), Enge (Kreis 2) and the hills of Fluntern and Hottingen (Kreis 7). The most affordable are in the north and west: Affoltern, Oerlikon and Seebach (Kreis 11), Schwamendingen (Kreis 12), Altstetten and Albisrieden (Kreis 9).
Buying in Zurich is possible for a foreigner, but the framework depends on your nationality and residency status, and it could tighten for non-EU nationals. In a city where the vast majority of residents are tenants, many newcomers start by renting anyway.
Here are the latest official figures on the shortage, prices and rents, the profile of the twelve districts (Kreis) and what to check before buying.
According to the Statistical Office of the Canton of Zurich, the vacancy rate was 0.52% in the canton on 1 June 2026, and 0.11% in the city. Around 4,200 homes were empty across the canton, more than three-quarters of them offered for rent. The canton sums up the situation simply: supply is not keeping up with demand, which remains strong.
The trend is national. The Federal Statistical Office (FSO) counts 0.93% of homes vacant in Switzerland on 1 June 2026, against 1.00% a year earlier. This is the sixth consecutive fall. Of the 45,493 vacant homes in the country, only 10,803 were for sale.
For a buyer, this means few properties available and strong competition for well-located apartments. The Zürcher Kantonalbank (ZKB) does, however, observe a slight slowdown in the search for owner-occupied homes: the share of search alerts devoted to buying is falling slightly in the canton, and interest in ownership appears to have passed its peak.
According to the Zurich owner-occupied housing index (ZWEX) published by the ZKB, prices rose by 3.3% in 2024 and 3.2% in 2025 in the canton. The bank forecasts a further +3.5% in 2026 and 2027. It notes that the 2025 rise was weaker than expected and that some cooling is being felt, owing to slightly higher long-term rates and a less tight labour market. But it concludes that with expected growth of 3.5%, the era of record prices is not over.
Across Switzerland, the FSO residential property price index rose by 0.7% in the second quarter of 2026 and by 3.5% year on year. Owner-occupied apartments rose by 1.6% over the quarter, detached houses fell by 0.4%, and the rise is stronger in urban municipalities (+1.8%) than in rural ones, which are stable.
Rates remain low. The average mortgage rate calculated by the Federal Office for Housing stands at 1.31% on 30 June 2026, and the reference rate applicable to leases remains at 1.25%; the next release is scheduled for 1 December 2026. The ZKB expects Swiss inflation of around 0.5% in 2026, which does not argue for a rapid rise in rates.
The city is divided into twelve districts. The rents recorded by Statistik Stadt Zürich give a good idea of the price hierarchy: for a typical 75 m² home from a private landlord, expect to pay around CHF 2,832 per month in the old town, CHF 1,988 in Wiedikon and CHF 1,611 in Affoltern.
The purchase of a home by a foreign person falls under the federal law known as the Lex Koller. Depending on whether you are a national of a European Union or EFTA country, or of another country, and depending on your permit and your place of residence, authorisation may be required. Have your situation checked before signing a purchase agreement.
The framework could change. On 15 April 2026, the Federal Council opened a consultation, running until 15 July 2026, on a proposal that would make the purchase of a main residence by third-country nationals, meaning those outside the EU and EFTA, subject to authorisation. These owners would have to resell within two years if they leave the home. The proposal also reduces the quotas for second homes and closes foreigners' access to units in listed residential real estate funds. It is only a proposal: the law in force on the date of signing is what will apply to your purchase.
Statistik Stadt Zürich publishes a rent survey every two years. As of 1 April 2026, rents have risen by 3.1% per square metre over two years. The gap between old and new leases is large: for a typical 75 m² home, the median rent is CHF 2,907 per month in a new building, CHF 2,287 for a new lease in an existing building, and CHF 1,657 for a lease signed more than ten years ago. On arrival, the price of a new lease is what you will pay.
As a guide, expect:
Service charges come on top of the net rent, generally between CHF 150 and 300 per month. The landlord can require a security deposit of up to three months' net rent, held in a blocked bank account or covered by a deposit insurance policy. Letting agencies ask for a complete application at the viewing, including an extract from the debt enforcement register, and every new resident must register with the municipality within 14 days.
If you are preparing your project from abroad, a Remoters home finder based in Zurich can search and view properties for you, select the ones that match your project, whether for buying or renting, and support you through to signing. The first conversation and the quote are free.
Short answers to the questions our readers ask, written to stand on their own.
Sources cited in this article
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