Prices for single-family homes in Switzerland rise slightly
Prices for single-family homes in Switzerland reportedly increased in the second quarter of 2024, while prices for owner-occupied apartments stagnated.
In the second quarter of the year, prices for single-family homes rose by 0.6% compared to the previous quarter, Zurich consultancy firm Fahrländer Partner Raumentwicklung (FPRE) said on Friday.
Year-on-year, the increase was 4.7 percent. The increase was most stark in the high-end market segment (+5.5%) and least pronounced in the mid-range segment (+3.8%).
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In contrast, prices for owner-occupied flats in the lower and middle segments remained more or less stable, although there was a slight dip of 2.2% in the upper market segment. Overall, year-on-year, the increase was only 1.2%.
But there were comparatively large regional differences in prices for condominiums in the mid-market segment. According to FPRE, prices rose the most around Zurich (+1.1%) and Geneva (+1.0%). A significant dip was recorded in southern Switzerland (-4.1%) and to a lesser extent the Alpine region and the Jura (-0.7% each) as well as in Basel (-0.6%).
Due to high demand and low construction activity, the authors of the study expect prices for residential property in Switzerland to continue to rise in the medium term.
Earlier this week, the “SWX IAZI Private Real Estate Price Index” came to a similar conclusion. According to this survey, the actual transaction prices paid on the market for residential property rose by 1.1% in the second quarter and by 4.5% year-on-year.
Adapted from German by DeepL/dos
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