Real estate Prices for residential property rise in the second quarter
Condominiums and single-family homes became slightly more expensive on average in the second quarter. According to the real estate platform RealAdvisor, prices for houses and apartments have risen by 0.6 percent in the last three months.
17.07.2024, 09:50
SDA
Over the past twelve months, this represents an increase of 1.9 percent for apartments, according to a press release issued on Wednesday. Compared to the previous year, houses are 1 percent more expensive.
Prices have risen at an above-average rate, particularly in low-tax cantons. The most significant price increases were recorded in Obwalden (+2.3% apartments, +2.0% houses), Nidwalden (+2.4% apartments, +1.8% houses) and Zug (+1.9% apartments, +1.6% houses).
Fewer sales
Meanwhile, the number of sales was below the previous year's level. In Geneva (-4.7%) and Zurich (-6.6%) in particular, the transaction volume fell significantly compared to the previous year. This was due to the insufficient supply of real estate and the lack of new buildings.
However, RealAdvisor expects the transaction market to recover slightly in the second half of the year. According to the report, falling interest rates should encourage a normalization.
