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Prices for residential property in Switzerland developed differently in November depending on the type of property. While houses became slightly more expensive, prices for condominiums fell slightly. (archive picture)
Keystone
Prices for residential property in Switzerland developed differently in November depending on the type of property. While houses became slightly more expensive, prices for condominiums fell slightly.
This is according to the Swiss Real Estate Offer Index published on Thursday. It is compiled by the Swiss Marketplace Group in collaboration with the real estate consultancy IAZI.
Specifically, prices for condominiums fell by 1.4 percent last month, while single-family homes were 0.2 percent more expensive. Compared to the previous year, this represents a price increase of 1.5 percent for apartments and 2.3 percent for houses.
The downward correction in asking prices for condominiums could be interpreted as an indication that supply and demand in the condominium market are tending towards equilibrium again, according to the press release. The number of newly built condominium units has also risen again recently. In contrast, construction activity for single-family homes is stagnating at a low level.
For tenants, the short breather in October is already over. Asking rents were increased by an average of 0.5 percent in November, following a 2.8 percent decrease in October. From a regional perspective, the highest price increases were recorded in Ticino (+3.7%), while advertised apartments in the Lake Geneva region and Central Switzerland became slightly cheaper.
Over the year as a whole, advertised rental prices have fallen by 1.0%.
05.12.2024, 07:49
