{"id":218600,"date":"2026-03-03T07:00:56","date_gmt":"2026-03-03T06:00:56","guid":{"rendered":"https:\/\/dievolkswirtschaft.ch\/?p=218600"},"modified":"2026-04-07T14:00:07","modified_gmt":"2026-04-07T12:00:07","slug":"que-se-passe-t-il-sur-le-marche-de-limmobilier-3","status":"publish","type":"post","link":"https:\/\/dievolkswirtschaft.ch\/fr\/2026\/03\/que-se-passe-t-il-sur-le-marche-de-limmobilier-3\/","title":{"rendered":"Que se passe-t-il sur le march\u00e9 de l\u2019immobilier?"},"content":{"rendered":"<p>Le march\u00e9 du logement fait actuellement l\u2019objet d\u2019intenses d\u00e9bats. Il est donc d\u2019autant plus \u00e9tonnant de constater \u00e0 quel point les locataires de Suisse sont globalement satisfaits de leur situation en mati\u00e8re de logement: dans un sondage repr\u00e9sentatif, 93% d\u2019entre eux d\u00e9clarent qu\u2019ils se sentent\u00a0tr\u00e8s bien ou plut\u00f4t bien\u00a0dans leur logement<a href=\"#footnote_1\" id=\"footnote-anchor_1\" class=\"inline-footnote__anchor\">[1]<\/a>.<\/p>\n<h2 class=\"text__graphic-title\">Les nouveaux locataires ressentent les tensions du march\u00e9<\/h2>\n<p>Les personnes qui d\u00e9m\u00e9nagent ressentent toutefois les tensions qui agitent le march\u00e9 de l\u2019immobilier, puisque les nouveaux baux refl\u00e8tent les signaux du march\u00e9 en mati\u00e8re de prix et de p\u00e9nurie: l\u2019indice W\u00fcest Partner des prix de l\u2019offre, qui mesure l\u2019\u00e9volution des loyers des logements nouvellement mis en location, a ainsi progress\u00e9 de 17% entre le quatri\u00e8me trimestre 2021 et le quatri\u00e8me trimestre 2025. Cet indice est h\u00e9donique puisqu\u2019il tient compte des diff\u00e9rences de localisation et de taille des biens immobiliers.<\/p>\n<p>Les loyers des baux en cours, ou loyers anciens, affichent une plus grande stabilit\u00e9: ils varient principalement en fonction du taux de r\u00e9f\u00e9rence et des transformations r\u00e9alis\u00e9es afin d\u2019augmenter la valeur de l\u2019immeuble (remplacement d\u2019une cuisine v\u00e9tuste, installation d\u2019une salle de bains raffin\u00e9e, etc.). Sur les march\u00e9s tendus, l\u2019\u00e9cart entre les loyers anciens et les loyers propos\u00e9s tend \u00e0 se creuser (voir <em>graphique\u00a01<\/em>).<\/p>\n<h2 class=\"text__graphic-title\">Graphique 1: Les loyers propos\u00e9s augmentent plus fortement que les loyers anciens (2016-2025)<\/h2>\n<h6 class=\"copy-small-bold\">GRAPHIQUE INTERACTIF<\/h6>\n<div class='chart chart--normal' id='SCHLAEPFER_03-2026_ABB1_FR'><\/div>\n\n<script>\n$(function () {\n  Highcharts.setOptions({\n    lang: {\n      months: \"janvier,f\u00e9vrier,mars,avril,mai,juin,juillet,ao\u00fbt,september,octobre,novembre,d\u00e9cembre\".split(\",\"),\n      shortMonths: ['T 1','T 2','T 3','T 4'],\n      decimalPoint: ',',\n      thousandsSep: ' '\n    }\n  });\n\n  $('#SCHLAEPFER_03-2026_ABB1_FR').highcharts({\n    chart: { type: 'line' },\n    title: { text: '' },\n\n    xAxis: { type: 'datetime', title: { text: '' } },\n\n    yAxis: [{\n      labels: {\n        formatter: function () {\n          return 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100.2],\n          [Date.UTC(2019, 6), 100.3],\n          [Date.UTC(2019, 9), 100.4],\n          [Date.UTC(2020, 0), 100.5],\n          [Date.UTC(2020, 3), 100.6],\n          [Date.UTC(2020, 6), 100.3],\n          [Date.UTC(2020, 9), 100.2],\n          [Date.UTC(2021, 0), 100.2],\n          [Date.UTC(2021, 3), 100.3],\n          [Date.UTC(2021, 6), 100.3],\n          [Date.UTC(2021, 9), 100.4],\n          [Date.UTC(2022, 0), 100.5],\n          [Date.UTC(2022, 3), 100.6],\n          [Date.UTC(2022, 6), 100.7],\n          [Date.UTC(2022, 9), 100.8],\n          [Date.UTC(2023, 0), 100.9],\n          [Date.UTC(2023, 3), 101.0],\n          [Date.UTC(2023, 6), 101.1],\n          [Date.UTC(2023, 9), 102.2],\n          [Date.UTC(2024, 0), 102.7],\n          [Date.UTC(2024, 3), 103.9],\n          [Date.UTC(2024, 6), 104.5],\n          [Date.UTC(2024, 9), 104.8],\n          [Date.UTC(2025, 0), 105.0],\n          [Date.UTC(2025, 3), 105.2],\n          [Date.UTC(2025, 6), 105.2],\n          [Date.UTC(2025, 9), 105.2]\n        ],\n        color: '#5a7298',\n        showInLegend: true\n      }\n    ]\n  });\n});\n<\/script>\n\n<div class=\"diagram-legend\">Remarque: le mod\u00e8le h\u00e9donique du calcul de l\u2019indice des prix de l\u2019offre de logements locatifs refl\u00e8te l\u2019\u00e9volution des loyers des logements nouvellement mis en location par annonces. Les diff\u00e9rences de localisation ou de taille des biens sont exclues du calcul. Les loyers anciens reproduisent l\u2019\u00e9volution des loyers en vigueur dans les baux existants.<\/div>\n<div class=\"diagram-legend\">Source: W\u00fcest Partner, BCZ | Graphique: La Vie \u00e9conomique<\/div>\n<p>&nbsp;<\/p>\n<p>La hausse des loyers est le r\u00e9sultat de l\u2019augmentation du pouvoir d\u2019achat dans un contexte de raret\u00e9 de l\u2019offre. Elle refl\u00e8te une diminution du nombre d\u2019appartements propos\u00e9s \u00e0 la location rapport\u00e9s au parc immobilier existant et un faible taux de vacance. Au 1<sup>er<\/sup> juin 2025, on comptait 48&nbsp;455 logements vacants dans l\u2019ensemble de la Suisse, ce qui correspond \u00e0 un taux de vacance de 1,0%. La baisse constante de ce ratio au cours des cinq derni\u00e8res ann\u00e9es est li\u00e9e \u00e0 des facteurs relevant \u00e0 la fois de la demande et de l\u2019offre: le nombre de m\u00e9nages a fortement augment\u00e9 depuis 2000 en raison d\u2019une immigration \u00e9lev\u00e9e et d\u2019une tendance \u00e0 la baisse du nombre de personnes par m\u00e9nage, tandis que, \u00a0du c\u00f4t\u00e9 de l\u2019offre, le nombre relativement faible de permis de construire d\u00e9livr\u00e9s entre 2019 et 2024 a eu un effet restrictif. Les autorit\u00e9s tentent de rem\u00e9dier \u00e0 l\u2019insuffisance des nouvelles constructions, notamment par le biais du Plan d\u2019action sur la p\u00e9nurie de logements<a href=\"#footnote_2\" id=\"footnote-anchor_2\" class=\"inline-footnote__anchor\">[2]<\/a>.<\/p>\n<p>De nombreuses voix s\u2019\u00e9l\u00e8vent pour r\u00e9clamer des instruments suppl\u00e9mentaires dans la politique du logement ainsi que des adaptations de la r\u00e9glementation. L\u2019Association suisse des locataires a ainsi r\u00e9colt\u00e9 100\u00a0000\u00a0signatures pour son initiative sur les loyers, qui exige que ces derniers se r\u00e9f\u00e8rent au co\u00fbt effectif de l\u2019immobilier, major\u00e9 d\u2019un rendement limit\u00e9, et pr\u00e9voit un contr\u00f4le r\u00e9gulier des loyers. De nombreux projets locaux de loi sur les loyers ont d\u00e9j\u00e0 \u00e9t\u00e9 soumis au vote r\u00e9cemment, comme le droit de pr\u00e9emption dans le canton de Zurich, qui a \u00e9t\u00e9 rejet\u00e9 par la population; en revanche, le plafonnement des loyers a \u00e9t\u00e9 accept\u00e9 dans le canton de B\u00e2le-Ville.<\/p>\n<p>La mod\u00e9ration des loyers ou l\u2019\u00e9largissement de l\u2019offre sont les principaux objectifs de la politique du logement. Reste que toutes les mesures ne sont pas forc\u00e9ment pertinentes pour atteindre ces vis\u00e9es. Il arrive fr\u00e9quemment que les objectifs soient contradictoires, notamment parce que les logements neufs sont g\u00e9n\u00e9ralement assortis de loyers \u00e9lev\u00e9s. En outre, les mesures prises ont souvent des effets secondaires ind\u00e9sirables. Il n\u2019existe donc pas de solution miracle en mati\u00e8re de politique du logement.<\/p>\n<h2 class=\"text__graphic-title\">Comprendre le m\u00e9canisme des march\u00e9s partiels<\/h2>\n<p>Gr\u00e2ce \u00e0 ses outils, l\u2019\u00e9conomie peut aider \u00e0 comprendre les effets des mesures de la politique du logement. Une approche ad\u00e9quate consiste \u00e0 diviser le march\u00e9 immobilier en plusieurs segments (march\u00e9s partiels), afin d\u2019\u00e9tudier l\u2019impact des mesures de la politique du logement sur chacun d\u2019eux, puis d\u2019\u00e9valuer leurs interd\u00e9pendances. Les trois march\u00e9s partiels principaux, avec leurs perspectives respectives, sont le march\u00e9 des usagers (loyers), le march\u00e9 des transactions (achat-vente) et le march\u00e9 de la construction (nouvelles r\u00e9alisations).<\/p>\n<p>Sur le march\u00e9 des usagers, l\u2019offre d\u2019appartements et la demande de surfaces d\u2019habitation d\u00e9terminent les loyers propos\u00e9s. Alors que la location d\u2019un logement rel\u00e8ve de la consommation, l\u2019achat d\u2019un bien immobilier est un investissement qui s\u2019effectue sur le march\u00e9 des transactions. La propension \u00e0 payer pour un immeuble de rapport d\u00e9pend de la valeur actuelle des revenus locatifs et des frais d\u2019entretien prospectifs. La valeur actualis\u00e9e des revenus et des charges est fortement li\u00e9e au rendement attendu.<\/p>\n<p>La faiblesse des revenus des placements alternatifs tels que les obligations se traduit g\u00e9n\u00e9ralement par une diminution des rendements escompt\u00e9s des placements immobiliers. \u00c9tant donn\u00e9 l\u2019orientation baissi\u00e8re persistante des taux d\u2019int\u00e9r\u00eat depuis le d\u00e9but du mill\u00e9naire, les acqu\u00e9reurs d\u2019immeubles de rapport ont accept\u00e9 des rendements initiaux (revenu locatif rapport\u00e9 au co\u00fbt total de l\u2019investissement) plus modestes. Cela s\u2019est directement r\u00e9percut\u00e9 sur les prix, et les habitations collectives ont rench\u00e9ri.<\/p>\n<p>Si, avec le recul, les investisseurs de longue date ont profit\u00e9 de ces plus-values, ceux qui ach\u00e8tent aujourd\u2019hui \u00e0 des prix plus \u00e9lev\u00e9s n\u2019obtiennent souvent qu\u2019un faible rendement initial, car les loyers ont augment\u00e9 moins fortement que les prix d\u2019achat (voir <em>graphique\u00a02<\/em>). Cette \u00e9volution divergente est due au fait que les deux facteurs sont influenc\u00e9s par des march\u00e9s diff\u00e9rents: les loyers se forment sur le march\u00e9 des usagers et se r\u00e9percutent sur le march\u00e9 des transactions au niveau du prix d\u2019achat des immeubles, le rendement initial escompt\u00e9 \u00e9tant \u00e0 cet \u00e9gard un facteur d\u00e9terminant.<\/p>\n<h2 class=\"text__graphic-title\">Graphique 2: Les prix d\u2019achat de biens immobiliers ont augment\u00e9 beaucoup plus fortement que les loyers des logements (2006-2025)<\/h2>\n<h6 class=\"copy-small-bold\">GRAPHIQUE INTERACTIF<\/h6>\n<div class='chart chart--normal' id='SCHLAEPFER_03-2026_ABB2_FR'><\/div>\n\n<script>\n$(function () {\n  Highcharts.setOptions({\n    lang: {\n      months: \"janvier,f\u00e9vrier,mars,avril,mai,juin,juillet,ao\u00fbt,septembre,octobre,novembre,d\u00e9cembre\".split(\",\"),\n      shortMonths: ['T 1','T 2','T 3','T 4'],\n      decimalPoint: ',',\n      thousandsSep: ' 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[Date.UTC(2025, 0), 133.7],\n          [Date.UTC(2025, 3), 133.9],\n          [Date.UTC(2025, 6), 133.9],\n          [Date.UTC(2025, 9), 133.9]\n        ],\n        color: '#4b83c9',\n        showInLegend: true\n      }\n    ]\n  });\n});\n<\/script>\n\n<div class=\"diagram-legend\">Source: W\u00fcest Partner | Graphique: La Vie \u00e9conomique<\/div>\n<h2 class=\"text__graphic-title\">Augmenter la faible \u00e9lasticit\u00e9 des prix dans le secteur de la construction neuve<\/h2>\n<p>Sur le march\u00e9 de la construction, troisi\u00e8me segment du march\u00e9 de l\u2019immobilier, le rench\u00e9rissement des prix de vente des immeubles stimule la construction de nouveaux biens. Il faut toutefois du temps et des opportunit\u00e9s pour que cette hausse engendre une augmentation des constructions neuves, des extensions et des sur\u00e9l\u00e9vations. L\u2019\u00e9lasticit\u00e9 des prix de la construction r\u00e9sidentielle neuve en Suisse est faible, ce qui signifie que m\u00eame une forte augmentation des prix de l\u2019immobilier n\u2019entra\u00eene qu\u2019une faible progression du nombre de nouvelles constructions. Selon une \u00e9tude de Caldera et Johansson<a href=\"#footnote_3\" id=\"footnote-anchor_3\" class=\"inline-footnote__anchor\">[3]<\/a>, aucun des 21\u00a0autres pays membres de l\u2019OCDE \u00e9tudi\u00e9s ne pr\u00e9sente une \u00e9lasticit\u00e9 aussi faible que la Suisse.<\/p>\n<p>En p\u00e9riode de tension, cela repr\u00e9sente un inconv\u00e9nient pour les personnes en qu\u00eate d\u2019un logement, car le march\u00e9 immobilier r\u00e9agit avec un certain d\u00e9calage aux \u00e9volutions de son environnement. En Suisse, le nombre de m\u00e9nages a fortement augment\u00e9 ces derni\u00e8res ann\u00e9es. La mani\u00e8re dont la construction r\u00e9sidentielle r\u00e9agit \u00e0 la hausse de la demande d\u00e9termine si la forte croissance du nombre de m\u00e9nages se traduit principalement par une augmentation du nombre de logements ou par une hausse des loyers, ou si cela sera encore le cas \u00e0 l\u2019avenir.<\/p>\n<p>Les nombreux acteurs du march\u00e9 de l\u2019immobilier devraient veiller \u00e0 ce que le march\u00e9 local de la construction r\u00e9agisse plus efficacement aux signaux de p\u00e9nurie, tels que les hausses de prix. Si l\u2019objectif n\u2019est pas de construire davantage de logements \u00e0 tout prix et sur tout le territoire, il devrait n\u00e9anmoins \u00eatre possible, en p\u00e9riode de forte croissance d\u00e9mographique, de cr\u00e9er rapidement des logements suppl\u00e9mentaires dans des zones bien desservies.<\/p>\n<p>Dans ce contexte, les permis de construire d\u00e9livr\u00e9s dans les cinq plus grandes villes de Suisse en 2024 et 2025 et portant sur 10\u00a0000\u00a0nouveaux logements constituent un signal encourageant. Cela ne suffira certes pas \u00e0 r\u00e9sorber la pression sur le march\u00e9 du logement, mais on peut s\u2019attendre \u00e0 ce que la situation des personnes \u00e0 la recherche d\u2019un logement ne s\u2019aggrave pas davantage.<\/p>\n<ol class=\"footnote\"><li id=\"footnote_1\" class=\"footnote--item\">Enqu\u00eate Immo-Barom\u00e8tre 2025 r\u00e9alis\u00e9e par W\u00fcest Partner, SVIT Suisse et HEV Suisse aupr\u00e8s de 1256 personnes en Suisse al\u00e9manique et en Suisse romande.&nbsp;<a href=\"#footnote-anchor_1\" class=\"inline-footnote__anchor hidden-print\">[<span class=\"icon-arrow-up\"><\/span>]<\/a><\/li><li id=\"footnote_2\" class=\"footnote--item\">Voir aussi Tschirren (2026).&nbsp;<a href=\"#footnote-anchor_2\" class=\"inline-footnote__anchor hidden-print\">[<span class=\"icon-arrow-up\"><\/span>]<\/a><\/li><li id=\"footnote_3\" class=\"footnote--item\">Voir Caldera et Johansson (2013).&nbsp;<a href=\"#footnote-anchor_3\" class=\"inline-footnote__anchor hidden-print\">[<span class=\"icon-arrow-up\"><\/span>]<\/a><\/li><\/ol>","protected":false},"excerpt":{"rendered":"<p>Le march\u00e9 du logement fait actuellement l\u2019objet d\u2019intenses d\u00e9bats. Il est donc d\u2019autant plus \u00e9tonnant de constater \u00e0 quel point les locataires de Suisse sont globalement satisfaits de leur situation en mati\u00e8re de logement: dans un sondage repr\u00e9sentatif, 93% d\u2019entre eux d\u00e9clarent qu\u2019ils se sentent\u00a0tr\u00e8s bien ou plut\u00f4t bien\u00a0dans leur logement. Les nouveaux locataires ressentent [&hellip;]<\/p>","protected":false},"author":4671,"featured_media":218248,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"om_disable_all_campaigns":false,"ep_exclude_from_search":false,"footnotes":""},"post__type":[81,83],"post_opinion":[],"post_serie":[],"post_content_category":[105],"post_content_subject":[191],"acf":{"seco_author":4671,"seco_co_author":"","author_override":"","seco_author_post_ocupation_year":"","seco_author_post_occupation_de":"Dr. sc. ETH, Chef\u00f6konom, W\u00fcest Partner, Z\u00fcrich","seco_author_post_occupation_fr":"\u00c9conomiste en chef, W\u00fcest Partner, Zurich","seco_co_authors_post_ocupation":null,"short_title":"","post_lead":"Loyers en hausse, immeubles hors de prix, faible activit\u00e9 de construction: les voix r\u00e9clamant une r\u00e9glementation plus stricte des loyers et des transactions immobili\u00e8res se font aussi insistantes que celles appelant \u00e0 desserrer l\u2019\u00e9tau r\u00e9glementaire qui asphyxie le secteur. Pour bien comprendre les effets des mesures de l\u2019\u00c9tat, il faut s\u2019int\u00e9resser aux march\u00e9s partiels du secteur (loyers, transactions et construction) et \u00e0 leurs interd\u00e9pendances.","post_hero_image_description":"La forte demande de logements conjugu\u00e9e \u00e0 une offre stagnante entra\u00eene une hausse des loyers. Des appartements sur le site de l\u2019EPFL, \u00e0 Lausanne. ","post_hero_image_description_copyright_de":"","post_hero_image_description_copyright_fr":"Keystone","post_references_literature":"<ul>\r\n \t<li>\r\n<h6 class=\"content-copy\">Caldera A. et Johansson A. (2013).\u00a0<a href=\"https:\/\/www.sciencedirect.com\/science\/article\/pii\/S105113771300020X\">The price responsiveness of housing supply in OECD countries.<\/a><\/h6>\r\n<\/li>\r\n \t<li>Tschirren M. (2026). <a href=\"https:\/\/dievolkswirtschaft.ch\/fr\/?p=217354&amp;v\">La p\u00e9nurie de logements se poursuit<\/a>. La Vie \u00e9conomique, 10 mars.<\/li>\r\n<\/ul>","post_kasten":null,"post_notes_for_print":"Notes: \r\nA ajouter apr\u00e8s publication de l'article Tshcirren: \r\nnotamment par le biais du Plan d\u2019action sur la p\u00e9nurie de logements[fnd]Voir aussi Tschirren (2026).[\/fnd].\r\n\r\ndans la biblio: \r\nTschirren M. (2026). La p\u00e9nurie de logements se poursuit. La Vie \u00e9conomique, 10 mars.\r\n","first_teaser_header_de":"","first_teaser_header_fr":"","first_teaser_text_de":"","first_teaser_text_fr":"","second_teaser_header_de":"","second_teaser_header_fr":"","second_teaser_text_de":"","second_teaser_text_fr":"","kseason_de":"","kseason_fr":"","post_in_pdf":"","main_focus":[218008,218011],"serie_email":"","frontpage_slider_bild":"","artikel_bild-slider":null,"legacy_id":"","post_abstract":"","magazine_issue":null,"seco_author_reccomended_post":"","redaktoren":"","korrektor":"","planned_publication_date":"2026-03-03 06:00:10","original_files":null,"external_release_for_author":"20260220","external_release_for_author_time":"00:05:00","link_for_external_authors":"https:\/\/dievolkswirtschaft.ch\/fr\/exedit\/69aec44c95f5e"},"_links":{"self":[{"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/posts\/218600"}],"collection":[{"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/users\/4671"}],"replies":[{"embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/comments?post=218600"}],"version-history":[{"count":15,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/posts\/218600\/revisions"}],"predecessor-version":[{"id":219605,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/posts\/218600\/revisions\/219605"}],"acf:post":[{"embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/main_focus_post\/218011"},{"embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/main_focus_post\/218008"}],"acf:user":[{"embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/users\/4671"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/media\/218248"}],"wp:attachment":[{"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/media?parent=218600"}],"wp:term":[{"taxonomy":"post__type","embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/post__type?post=218600"},{"taxonomy":"post_opinion","embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/post_opinion?post=218600"},{"taxonomy":"post_serie","embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/post_serie?post=218600"},{"taxonomy":"post_content_category","embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/post_content_category?post=218600"},{"taxonomy":"post_content_subject","embeddable":true,"href":"https:\/\/dievolkswirtschaft.ch\/fr\/wp-json\/wp\/v2\/post_content_subject?post=218600"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}