Swiss house prices rose sharply in June

View of the city of Lausanne. In the Lake Geneva region, prices of detached houses rose sharply, ImmoScout24 reports. Keystone-SDA

The prices of homes and apartments in Switzerland rose again in June. In the Lake Geneva region, prices of detached houses rose sharply. Meanwhile, in Zurich and its surrounding region the opposite trend was observed.

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In June, the published prices for detached houses rose by 0.8% compared to the previous month, according to the purchase index published on Wednesday by the property platform ImmoScout24. This tracks the prices of owner-occupied homes offered for sale. Over a year, the increase was 3.6%.

The rise in prices for condominiums was more moderate, following a sharp rise in May. The monthly increase was 0.2%, while the year-on-year rise was 4.5%.

At regional level, the Lake Geneva region, with an increase of 2%, saw the strongest rise in prices for a family home last month. Prices also rose in north-western Switzerland (+1.6%) and eastern Switzerland (+1.5%).

By contrast, prices were slightly below the national average in central Switzerland (+0.7%) and canton Ticino in the south of the country (+0.4%). In the Zurich region (-0.9%), atypical price reductions were registered for houses, according to ImmoScout24.

On the condominium market, central Switzerland is the region where prices have risen the most, an increase of 1.8%, which is probably due largely to the very limited supply. Eastern Switzerland recorded an increase of 0.4%, slightly above average.

By contrast, Zurich (+0.1%), Ticino (+0.1%) and northwestern Switzerland (-0.1%) showed little change on the previous month, while the central Plateau region (-0.2%) and the Lake Geneva region (-0.3%) recorded slight falls.

On the other hand, rents continue to rise in many places, particularly for new lettings.

ImmoScout24 points out that the gap between the cost of renting and the cost of home ownership is widening again, and that home ownership is currently less expensive than renting, particularly over the long term.

Translated from French by DeepL/sb

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