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The dream of owning your own home is still alive. Despite high interest rates. And it gets a new boost with Raiffeisen’s current trading price index. Because: For the first time in Switzerland, apartments are becoming cheaper again. A decrease compared to the previous year was recorded in the regions Bern (-4.5 percent) and Eastern Switzerland (-1.3 percent).
“In individual regions, the first signs of a slowdown in the form of price declines on an annual basis are becoming noticeable, but for now only for apartment buildings,” confirms Fredy Hasenmaile, chief economist at Raiffeisen Switzerland. However, a national trend cannot yet be obtained from this. In the Zurich region (+7.2 percent), condominium prices increased particularly sharply.
Tourist areas are particularly popular
Condominium prices across Switzerland increased by 0.5 percent. In detached houses, the increase in the third quarter of 2023 is up to 2.1 percent. Compared to the previous year, the largest price increases were recorded for detached houses in central Switzerland (+12 percent) and eastern Switzerland (+13.1 percent). But prices rose less sharply in Zurich (+2.8 percent) and northwestern Switzerland (+2.5 percent).
Broken down by different communities, the Raiffeisen Transaction Price Index shows that house prices in tourist communities increased significantly more in a year (13.4 percent) than in other types of communities.
The situation is different in apartments. The strongest price increases were recorded in urban communities (+4.4 percent). With an increase of 0.5 percent, housing prices in rural areas were the region with the least increase.
The Raiffeisen Transaction Price Index is published quarterly at the beginning of the new quarter. The index 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).
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.
