Reference
The mortgage reference interest rate and the Consumer Price Index (CPI, known in Switzerland as LIK — Landesindex der Konsumentenpreise) are the two most important levers in Swiss rent calculation. They determine whether your landlord is permitted to raise the rent — or whether you may have a right to a rent reduction. On this page you will find the history since 2008, drawn directly from the official publications of the Federal Housing Office (BWO — Bundesamt für Wohnungswesen) and the Federal Statistical Office (FSO — Bundesamt für Statistik, BFS).
The mortgage reference interest rate is a quarterly average of the interest rates actually charged by Swiss banks on mortgages, published by the Federal Housing Office (BWO). It forms the legal basis for rent adjustments under Art. 269a OR (Swiss Code of Obligations) in conjunction with the Ordinance on the Lease and Rental of Residential and Commercial Premises (VMWG — Verordnung über die Miete und Pacht von Wohn- und Geschäftsräumen, SR 221.213.11).
If the reference rate falls, tenants are in principle entitled to a corresponding reduction of the net rent (Art. 13 VMWG). If it rises, the landlord may request an increase. The rate is expressed in increments of 0.25 percentage points and applies uniformly across Switzerland.
Last updated: .
| Valid from | Reference rate | Change |
|---|---|---|
| 1.25 % | current level | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.50 % | increase by 0.25 pp | |
| 1.50 % | unchanged | |
| 1.75 % | increase by 0.25 pp | |
| 1.75 % | unchanged | |
| 1.75 % | unchanged | |
| 1.75 % | unchanged | |
| 1.75 % | unchanged | |
| 1.50 % | decrease by 0.25 pp | |
| 1.50 % | unchanged | |
| 1.25 % | decrease by 0.25 pp | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.25 % | unchanged | |
| 1.50 % | increase by 0.25 pp | |
| 1.50 % | unchanged | |
| 1.50 % | unchanged | |
| 1.50 % | unchanged | |
| 1.50 % | unchanged | |
| 1.50 % | unchanged | |
| 1.50 % | unchanged | |
| 1.75 % | increase by 0.25 pp | |
| 2.00 % | increase by 0.25 pp | |
| 2.25 % | increase by 0.25 pp | |
| 2.50 % | increase by 0.25 pp | |
| 2.75 % | increase by 0.25 pp | |
| 3.00 % | increase by 0.25 pp | |
| 3.25 % | increase by 0.25 pp | |
| 3.50 % | increase by 0.25 pp |
A reduction in the reference rate by 0.25 percentage points does not automatically produce a rent reduction of 0.25 %. The permissible reduction is determined by the official pass-through table of the BWO (based on Art. 13 para. 4 VMWG):
| Reduction (pp) | Rent reduction |
|---|---|
| 0.25 | −2.91 % |
| 0.50 | −5.66 % |
| 0.75 | −8.26 % |
| 1.00 | −10.71 % |
| 1.25 | −13.04 % |
| 1.50 | −15.25 % |
| 1.75 | −17.36 % |
| 2.00 | −19.35 % |
| 2.25 | −21.26 % |
| 2.50 | −23.08 % |
| 2.75 | −24.81 % |
The landlord may offset against this reduction an inflation allowance (40 % of the CPI/LIK change since the last rent-setting date) and general cost increases (BWO lump-sum rate of approximately 0.5 % per year).
The LIK (CPI) measures inflation in Switzerland and is published monthly by the Federal Statistical Office (FSO/BFS). Current base value: May 2020 = 100. For rent calculation purposes, the relevant CPI figure is the value at the reference date of the last rent adjustment compared with the current value.
| Month | CPI/LIK value | Change vs. previous month |
|---|---|---|
| 108.2 | latest value | |
| 108.3 | increase by 0.1 | |
| 108.3 | unchanged | |
| 108.1 | decrease by 0.2 | |
| 107.8 | decrease by 0.3 | |
| 107.6 | decrease by 0.2 | |
| 106.9 | decrease by 0.7 | |
| 106.9 | unchanged | |
| 107.0 | increase by 0.1 | |
| 107.2 | increase by 0.2 | |
| 107.5 | increase by 0.3 | |
| 107.7 | increase by 0.2 | |
| 107.8 | increase by 0.1 | |
| 107.8 | unchanged | |
| 107.6 | decrease by 0.2 | |
| 107.5 | decrease by 0.1 | |
| 107.5 | unchanged | |
| 107.4 | decrease by 0.1 | |
| 106.8 | decrease by 0.6 | |
| 106.9 | increase by 0.1 | |
| 106.9 | unchanged | |
| 107.1 | increase by 0.2 | |
| 107.2 | increase by 0.1 | |
| 107.5 | increase by 0.3 | |
| 107.5 | unchanged | |
| 107.7 | increase by 0.2 | |
| 107.7 | unchanged | |
| 107.4 | decrease by 0.3 | |
| 107.1 | decrease by 0.3 | |
| 107.1 | unchanged | |
| 106.4 | decrease by 0.7 | |
| 106.2 | decrease by 0.2 | |
| 106.2 | unchanged | |
| 106.4 | increase by 0.2 | |
| 106.3 | decrease by 0.1 | |
| 106.4 | increase by 0.1 |
The calculation of a rent reduction is mathematically straightforward, but the devil is in the details: the reference rate in the current lease, the CPI value at the time of the last adjustment, any cost increases claimed, and the applicable notice periods. If you want to work through it yourself, all the data is on this page. If you want to save time, you can use our rent-reduction checker — upload your lease and get a concrete estimate with a ready-to-send rent-reduction request in a few minutes.
Note: The values published here are carefully sourced from official publications but do not replace legal advice in individual cases. The original publications of the BWO and FSO/BFS are always authoritative.