Market prices for investment properties stabilize
Published: Friday, Nov 3rd 2023, 11:10
Updated At: Saturday, Nov 4th 2023, 00:54
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Following recent sharp declines, the price trend for multi-family homes was only slightly down in the third quarter. There was even a slight recovery in office properties.
The prices of multi-family homes in Switzerland fell by 0.8% between July and September compared to the previous quarter. This was the result of an analysis of transaction prices by the consulting and research company Fahrländer Partner Raumentwicklung (FPRE).
This means that prices are roughly at the same level as in fall 2018, FPRE noted. They are currently around 11% below the previous year's figures and even 14% below the record high of April 2022.
FPRE observed the sharpest falls in the third quarter in the regions of Zurich (-1.3%), Basel (-1.2%) and Lake Geneva (-0.6%). Prices for investment properties remained virtually unchanged in the regions of Jura (-0.1 percent), Southern Switzerland (-0.2 percent), Central Switzerland (-0.3 percent) and Eastern Switzerland (-0.3 percent).
Office real estate with countermovement
Office property prices in Switzerland rose by 2.3% compared to the previous quarter following the most recent correction. An important driver was the increase in rents for new office space in the same period. Compared to the same quarter of the previous year, however, there was still a fall of 8.3%.
Developments varied from region to region: The Lake Geneva region (-1.0%) recorded a fall in prices compared to the previous quarter, while reductions were registered in Southern Switzerland (+4.3%), Zurich (+3.4%) and Central Switzerland (+3.3%).
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