Many Swiss people want to be able to afford their own home. This is further fuelling the prices for which condominiums and single-family homes are being advertised.
Asking prices for condominiums in Switzerland rose by 0.8% in May compared to the previous month, according to a monthly survey published on Friday by ImmoScout24. The increase for single-family homes was more moderate at 0.3%.
A year-on-year comparison shows how rapidly things are moving upwards: compared to May of the previous year, condominiums rose by 3.8%. For detached houses, asking prices even rose by 5.8%.
The online property platform concludes that sellers remain optimistic about the Swiss property market. Sellers are apparently assuming that the willingness to pay – despite already very high prices – is still not exhausted.
Zurich homes more expensive
However, the situation varies greatly depending on the region. While the Lake Geneva region offers the greatest supply – especially for condominiums – and there are also many properties on the market on the central plateau, the situation around Zurich looks bleak as supply is much tighter there.
Single-family homes in particular rose in price in the greater Zurich region by a whopping 3.9% compared to the previous month. Prices also rose noticeably in Ticino (+1.2%) and the Central Plateau (+1%) in May. In eastern Switzerland, on the other hand, asking prices fell by 2.1%.
The picture is somewhat different for condominiums: Prices climbed by 2.7% in Eastern Switzerland and by 2.3% in Central Switzerland. Zurich and Ticino also increased slightly – by around 1% each. By contrast, prices fell slightly in central regions and northwestern Switzerland.
The ImmoScout24 purchase index is a price index that records the asking prices of single-family homes and condominiums on a monthly basis. It is compiled in collaboration with IAZI AG and provides an early indicator of market trends.
Adapted from German by DeepL/mga
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