Only the Aigle district, at 1.58% vacant housing, isn't in a shortage situation. Every other district in Canton Vaud is. The cantonal average vacancy rate is 0.94% (État de Vaud, 2026). That single distinction — decided each December by the State Council — changes what you can actually do with a Vaud apartment once you own it.
This matters most if you're comparing where to buy for short-term rental. We've already covered the compliance side for Villeneuve specifically in our Villeneuve rental rules guide. This one steps back and asks the buyer's question: does the Aigle district's shortage-exempt status actually make it a better place to invest than Montreux or the districts around it?
In this guide
What "housing shortage" status actually restricts
In 2026, Canton Vaud's Loi sur la préservation et la promotion du parc locatif (LPPPL) applies its full restrictions in every district except Aigle (État de Vaud, 2026). That's not a technicality — it's three concrete rules that don't apply if you buy in the Aigle district.
| Restriction (applies in shortage districts) | In the Aigle district (2026) |
|---|---|
| 90-day cap on short-term rental without a permit | No cap — rent year-round |
| Change-of-use permit (changement d'affectation) required | Not required |
| LFOCL official-form notification at every new lease | Not required |
| Communal pre-emption right on building-zone sales | Communes can't exercise it |
Everywhere else in Vaud, converting a long-term-lease apartment to short-term rental for more than 90 days a year means applying for a formal change-of-use permit from the Canton — a process our Villeneuve guide covers in full. In the Aigle district, that step doesn't exist in 2026. You still need to declare your short-term rental activity and get municipal authorisation — that baseline registration requirement applies canton-wide, Aigle included — but the shortage-specific layer of restrictions simply isn't there.
Why this matters for a buyer specifically: if you're purchasing an apartment that's currently under a long-term residential lease with the intention of converting it to short-term rental once vacant, the Aigle district removes the single biggest regulatory hurdle other Vaud districts impose on that conversion.
What Aigle district costs versus Montreux
Aigle district property runs roughly 35–45% below Montreux prices, before any shortage-exemption benefit is even factored in. Aigle itself averaged CHF 7,075/m² in April 2026, up 5.9% year-on-year for apartments (RealAdvisor, 2026). Bex averaged CHF 6,475/m², and Ollon CHF 5,899–6,364/m² (RealAdvisor; Barnes Suisse, 2026).
| Location | Price per m² (2026) | vs. Montreux |
|---|---|---|
| Montreux (city average) | CHF 10,929–11,888 | — |
| Aigle | CHF 7,075 | −35% to −40% |
| Bex | CHF 6,475 | −41% to −45% |
| Ollon | CHF 5,899–6,364 | −42% to −50% |
Put the regulatory and pricing pictures together and the Aigle district's investment case gets more interesting than the vacancy statistic alone suggests: a materially lower entry price, combined with the only district where a shortage-driven conversion permit isn't a variable in your underwriting. For the full mechanics of financing, Lex Koller, and closing costs that apply the same way here as anywhere in Vaud, see our buyer's guide to purchasing for short-term rental in Vaud.
The towns worth knowing in the Aigle district
The Aigle district runs along the eastern tip of Lake Geneva and up into the Rhône valley toward the Alps, covering Aigle, Villeneuve, Ollon, Bex, Leysin, Yvorne, Roche, Noville, Rennaz, and Corbeyrier (État de Vaud, 2026). Each offers a different short-term rental profile.
Villeneuve — lakefront, walking distance to Château de Chillon
Villeneuve sits at the lake's eastern point, a short walk from Château de Chillon and roughly 15 minutes from Montreux by train. Riviera Host already manages properties here — see our Villeneuve management page for what that looks like day to day.
Leysin and Ollon — Alpine ski access
Leysin sits above Aigle at around 1,300m, a genuine ski-resort market with a winter demand curve that doesn't depend on the Jazz Festival calendar. Ollon spans the valley floor up into the mountains, giving buyers a choice between lower-altitude, lower-price entry points and higher-altitude ski proximity within the same commune.
Aigle and Bex — Rhône valley, rail hub
Aigle itself is a regional rail junction — the line to Leysin, Les Diablerets, and the Alpine resorts starts here — plus a well-known wine-growing centre with its own tourism draw independent of the lake.
The catch: this status is reassessed every year
The Aigle district's shortage exemption isn't permanent. The State Council recalculates each district's vacancy rate annually and publishes a new arrêté every December confirming which districts are in shortage for the following year (État de Vaud, 2026). Isn't that the kind of detail that should worry a buyer betting on the exemption long-term? It should — but it's manageable if you plan for it rather than ignore it.
What this means in practice: if Aigle's vacancy rate drops below the 1.5% legal threshold in a future annual review, the district would be added to the shortage list and the 90-day cap and change-of-use requirement would apply from the following calendar year. Our Villeneuve guide covers exactly what that transition would look like and how to plan around it — the same logic applies district-wide, not just to Villeneuve.
Practically, this argues for buying a property that works as a short-term rental under the current exemption but wouldn't be financially ruined by a future 90-day cap — treat the year-round flexibility as upside, not as the sole basis for your return projection. For a broader look at what makes any Swiss apartment a good STR-conversion candidate, see Properties to Buy, where we assess listings from any portal or agency, anywhere in Switzerland, free of charge.
Frequently asked questions
Which Vaud district is not in housing shortage in 2026?
Only the Aigle district, with a 1.58% vacancy rate, is not classified as being in housing shortage under Vaud's LPPPL law in 2026. Every other district in the canton is, and the cantonal average vacancy rate is 0.94%.
What does housing-shortage status restrict for short-term rentals?
In districts designated as housing-shortage zones under LPPPL Title II, renting an apartment short-term for more than 90 days per year requires a formal change-of-use permit from the Canton. The Aigle district's exemption in 2026 means no 90-day cap and no change-of-use permit for apartments there.
Which towns are in the Aigle district?
The Aigle district includes Aigle, Villeneuve, Ollon, Bex, Leysin, Yvorne, Roche, Noville, Rennaz, and Corbeyrier, running along the eastern end of Lake Geneva into the Rhône valley and up toward the Alpine ski resorts.
How do Aigle district property prices compare to Montreux?
Aigle district prices run roughly 35–45% below Montreux. Aigle averaged CHF 7,075/m² in April 2026, Bex CHF 6,475/m², and Ollon CHF 5,899–6,364/m², versus CHF 10,929–11,888/m² in Montreux.
Related reading: Short-term rental in Villeneuve: full legal guide · Buying an apartment in Montreux for short-term rental · Properties to Buy — Switzerland-wide assessment · Is Airbnb legal in Canton Vaud? · Villeneuve property management
Founder of Riviera Host. BBA Hospitality (Glion), MSc Tourism (FHGR), MSc Data Science (HSLU). 8+ years managing short-term rentals on the Swiss Riviera, including properties in the Aigle district.
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