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Condominium prices have increased the most in the Zurich region in the last four quarters.
Detached homes had to pay 2.1 percent more in the third quarter than in the previous quarter, Raiffeisen’s transaction price index released on Wednesday showed. Condominium prices increased significantly less, with an increase of 0.5 percent.
Compared to the third quarter of 2022, single-family homes now cost 6.8 percent more than a year ago, and apartments cost 3.7 percent more. “In individual regions, the first signs of the slowdown are noticeable in the form of price declines on an annual basis, but initially only for apartment buildings,” Fredy Hasenmaile, chief economist at Raiffeisen Switzerland, is quoted in the statement as saying.
Apartments in Zurich are becoming increasingly expensive
Compared to the previous year, the largest price increases were recorded for detached houses in central Switzerland (+12.0%) and eastern Switzerland (+13.1%). However, prices rose less sharply in expensive regions such as Zurich (+2.8%) and northwestern Switzerland (+2.5%).
Apartment prices increased the most in the Zurich region (+7.2%). In contrast, a decrease in condominium prices was recorded in the Bern (-4.5%) and Eastern Switzerland (-1.3%) regions compared to the previous year.
The Raiffeisen Transaction Price Index is published quarterly at the beginning of the new quarter. It measures the price development of owner-occupied residential properties in Switzerland, based on ownership change data from Raiffeisen and the Swiss Real Estate Datapool (SRED). (sweat/SDA)
Source :Blick
I’m Tim David and I work as an author for 24 Instant News, covering the Market section. With a Bachelor’s Degree in Journalism, my mission is to provide accurate, timely and insightful news coverage that helps our readers stay informed about the latest trends in the market. My writing style is focused on making complex economic topics easy to understand for everyone.
