Prices for residential property likely to rise further
Published: Friday, Jan 12th 2024, 10:21
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Prices for condominiums in Switzerland continued to rise in the fourth quarter of 2023. Meanwhile, single-family home prices tended to move sideways in the final quarter. However, this trend is unlikely to be sustainable.
In the medium term, consultancy firm Fahrländer Partner Raumentwicklung (FPRE) expects prices for residential property to continue to rise. This is because demand remains high and no major impetus is expected from the new construction sector in 2024, according to a study published on Friday.
Although problems are to be expected in the high-end segment due to the already high prices and the reluctance of households, prices are hardly likely to fall here either.
Looking back at the development in 2023 as a whole, single-family homes increased in price by an annual average of 3.8%, while condominiums rose by an average of 4.2%. In the fourth quarter, prices for single-family homes fell slightly by 0.2% compared to the previous quarter, while apartments cost 0.9% more.
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