Rents may rise again, says the bank Raiffeisen.
The bank says the war in the Middle East is pushing up energy prices, which risks driving up construction costs and ultimately rents.
A 10% rise in oil prices translates into a 1% increase in construction tariffs.
The Lake Geneva region is particularly exposed, with vacancy rates at just 0.6%, against a national average of 1% - while building work is historically low.
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