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Condominiums were also 2.4 percent more expensive than in the previous quarter, according to a study published Wednesday by Raiffeisen Switzerland. Single-family homes were only 0.3 percent cheaper in the quarterly comparison. “Higher mortgage interest rates still do not bother the Swiss domestic market,” sums up economist Francis Schwartz.
However, due to the current interest rate expectations, a weakening in the price dynamic can be expected. “Price drops are unlikely, as can sometimes be observed abroad, but supply is very scarce in this country,” says the expert.
particularly badly affected centers
Looking at the regions, central Switzerland (+14.7 percent) and eastern Switzerland (+14.1 percent) stand out with strong annual increases in detached house prices. By contrast, price increases were much more moderate in Southern Switzerland (+3.1 percent) and Zurich (+2.1 percent). Overall, house prices in urban communities were found to have risen significantly more within a year than elsewhere.
On the other hand, condominium prices increased most significantly in central residential areas, but less so in tourist communities. The Lake Geneva region in particular experienced strong growth of 8.7 percent. Western Switzerland recorded the smallest increase in flats at just 4.7 percent. (SDA/smt)
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.
