Swiss property prices continue to rise
Keystone-SDA
Switzerland’s property market continued to rise in the third quarter. Buyers paid an average of 0.8% more for properties than they did in the previous quarter, and 3.3% more than a year earlier, according to the CIFI private property price index published on Wednesday.
In the market for owner-occupied flats, prices rose by 0.8% between July and September, while detached house prices increased by 0.7%, according to a press release. Compared with the same period a year earlier, prices were up 2.8% for flats and 3.9% for detached houses.
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As a result, property transactions have fallen, leading to a decline in mortgage lending volumes. Despite favourable borrowing conditions, many households still find it difficult to get on the property ladder, the property consultancy said. The firm is a subsidiary of Swiss Marketplace Group.
Investment property, by contrast, continues to attract strong demand, particularly apartment blocks and mixed-use properties with commercial space. This is despite prices rising by 1.4% compared with the second quarter.
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Translated from German, reviewed by an English Department journalist.
