Residential property has become more expensive in Switzerland, though regional disparities exist.
The prices, along with disparities, are covered in a new report by the real estate portal Immoscout24, published on July 6th.
It shows that, on average over the course of a year, house prices went up by 3.1 percent in June, to 8,011 francs per square metre, while apartments now cost 4.5 percent more – 9,526 francs per square metre.
However, “behind the national trend in asking prices lie, in some cases, marked regional divergences, which point to varying levels of market dynamism across the different parts of the country,” the report points out.
“Regionally, both noticeable price increases and declining asking prices can be observed.”
Where are prices highest and lowest?
For apartments, the Zurich region recorded the strongest growth in prices with a monthly increase of 2.3 percent, followed by Central Switzerland (+1.7 percent), Northwest (+1.5 percent), Ticino (+1.1 percent), and the Geneva region (+0.4 percent).
The market for single-family homes, on the other hand, “presents a mixed picture,” Immoscout24 found.
That’s because while in some regions prices for this type of property is increasing, in others it is falling.
In Eastern part of Switzerland, for instance, prices are rising by 2.1 percent, in the Greater Zurich area by 1.4 percent, and in the Lake Geneva region by 0.7 percent.
In Central Switzerland, however, homes have become less expensive.
In that area, “prices have fallen significantly by 3.2 percent, despite the continuing shortage of supply,” according to Immoscout24. “This continues the price correction that began in this region in the spring.”
Single-family homes also cost less than in the previous month in the Swiss Plateau (down by 1.3 percent) and in the Northwest (down 0,7 percent.).
READ MORE: Why is the price of properties so high in Switzerland?
