Real estate Rising home ownership prices in the third quarter
Prices for owner-occupied residential property in Switzerland rose in the third quarter. While they rose by 1.6 percent for single-family homes compared to the previous quarter, they were 0.9 percent higher for condominiums, as Raiffeisen Switzerland reported on Monday.
07.10.2024, 15:50
SDA
Compared to the third quarter of 2023, single-family homes cost 3.3% more and condominiums 2.8% more. The strongest price increases within a year were recorded for single-family homes in city centers and urban regions, the report continued.
In a comparison of the regions, single-family homes in Central Switzerland (+14 percent) and Southern Switzerland (+6.2 percent) recorded the strongest price increases over the last twelve months. In the Bern region (-2.1 percent) and around Lake Geneva (-3.4 percent), on the other hand, house prices have fallen slightly.
Prices for condominiums in Central Switzerland (+7.9 percent) and Eastern Switzerland (+6.6 percent) rose the most year-on-year. They rose only moderately in southern Switzerland (+1.7%) and on Lake Geneva (+0.4%).
"The price momentum on the Swiss owner-occupied housing market has not slowed any further recently, and its low point is probably behind us," Fredy Hasenmaile, Chief Economist at Raiffeisen Switzerland, is quoted as saying in the press release. "The already significantly more favorable financing conditions and the prospect of further interest rate cuts should boost demand for home ownership."
