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There was some relaxation in the real estate market in February. Overall, prices of homes advertised for sale fell slightly. Apartments for rent were also advertised at slightly lower prices, as can be seen in the “Swiss Real Estate Offer Index” published on Tuesday by Immoscout24 and real estate consultancy company IAZI.
February brought minimal relief to tenants: apartments for rent across Switzerland were advertised at 0.6 percent lower prices. When we look at the regions, we see this:
- Rents fell the most in Central Switzerland, by 2.2 percent.
- There was also a slight relaxation in the regions of Zurich (-1.8 percent), Ticino (-1.3 percent) and Eastern Switzerland (-0.7 percent).
- In northwestern Switzerland, rents remained almost the same (-0.1 percent). Asking rents increased slightly in the Central Plateau (+0.4 percent) and the Lake Geneva region (+0.5 percent).
Annual outlook: rents increased by 3.8 percent
The study authors commented that this was a glimmer of hope for those looking for accommodations. The fact that the reference rental interest rate announced last week remains at its current level also contributes to this. Asking rents are still on track to grow, up 3.8 per cent in the last twelve months.
Annual outlook: single-family homes held steady
There was a significant decrease in the detached house segment: The prices published in the advertisements decreased by 1 percent in February compared to the previous month. It is said that the increase at the beginning of the year has reversed. This also suggests that house prices are calming in the long term: Over the past twelve months, prices have remained roughly stable, with an increase of 0.1 percent.
However, when it comes to condominiums, the index registers zero rounds: Price expectations for flat offers in February remained at the level of the previous month. Over the past twelve months, prices in this segment have increased by 2.9 percent. After the “exorbitant growth rates of the past years”, this market also seems to have reached a temporary limit. (nim/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.
