Raiffeisen Switzerland CEO Heinz Huber said at a press conference that Raiffeisen has not changed its mortgage issuance criteria and wants to continue growing with the market. “We continue to calculate with a benchmark interest rate of five percent so that mortgage holders can also pay significantly higher interest rates,” Huber explains in an interview with the AWP news agency. Therefore, the increase in interest rates did not have a significant impact. Also, buying a home is often not only a “purely economical but also an emotional decision”.
Every five mortgages from Raiffeisen
Huber stressed that Raiffeisen banks have issued more than 200 billion francs this year: “Almost every five mortgages in Switzerland come from Raiffeisen.” But quality must come before volume. “I’m convinced this is the right way.”
Huber said that even when interest rates were negative, Raiffeisen was unable to detect a speculative bubble in private real estate. According to the Raiffeisen boss, demand for private residential property is still significantly higher than supply.
With rising interest rates, price dynamics may now stabilize somewhat, but do not expect an overall price decline.
The CEO of Raiffeisen Switzerland positively evaluated the reforms that the Raiffeisen group implemented after the turbulent period of former CEO Pierin Vincenz.
Since last year, Raiffeisen has set up owner committees to stabilize the exchanges between the Raiffeisen Swiss group headquarters and the Raiffeisen banks at various levels. “It works very well.” (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.
