Good news for interested buyers: Swiss apartments and houses are finally getting cheaper again

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This makes anyone interested in an apartment or house happy. Finally, the prices announced for real estate are showing the bottom again! Home prices were on average 0.8 percent lower than in the same period in 2022, according to the barometer published by real estate portal Realadvisor on Tuesday. The average price drop for condominiums was less pronounced. As they say, they give a discount of 0.1 percent.

In addition, according to the statement, 20 percent less houses were sold compared to the same period last year. This decline in transactions led to a “significant increase in the stock of flats and houses”. They say 14 percent more properties are available for sale online from April to June. In the cantons of Ticino, Valais and Graubünden, the offer increased more than in the rest of Switzerland.

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The outlook is positive: “Increasing housing stock may lead to a market in favor of buyers in some regions where supply exceeds demand,” says Jonas Wiesel, co-founder of Realadvisor. Existing adjustments may “open up new opportunities for buyers”.

At the same time, property sellers “may need to reconsider their strategy to adapt to this transition period in the Swiss property market,” Wiesel says. The high supply and consequent fall in prices are caused by several factors, including the economic situation, interest rates and general market sentiment.

However, after the SNB’s recent rate hikes, markets are already anticipating possible rate cuts next year. “This expectation could lead to a slight decline in mortgage rates in the second half of 2024,” Wiesel said. (pbe/SDA)

Source :Blick