Zurich Property Prices Rise With Rental Apartments Scarce: Chart

(Bloomberg) -- Apartment prices in the city of Zurich climbed 55 percent between 2007 and 2016, while the vacancy rate for housing remained low, data from the cantonal statistics office show. An influx of skilled immigrants from European Union countries has kept up demand for accommodation in the Swiss banking hub, home to both UBS Group AG and Credit Suisse Group AG. The vacancy rate fell to 0.21 percent in 2017, compared with 0.22 percent a year earlier.

To contact the reporter on this story: Catherine Bosley in Zurich at cbosley1@bloomberg.net.

To contact the editors responsible for this story: Fergal O'Brien at fobrien@bloomberg.net, Zoe Schneeweiss, Sheldon Reback