Prices for residential property rose in the third quarter
Published: Monday, Nov 4th 2024, 09:50
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Prices for residential property in Switzerland rose slightly in the third quarter of 2024. The Swiss Residential Property Price Index (IMPI) rose by 0.5% to 118.2 points in the period from July to September 2024 compared to the previous quarter.
According to the Federal Statistical Office (FSO) on Monday, there was an increase of 1.7% compared to the same quarter of the previous year. The price trend for condominiums (+0.7%) contributed slightly more to the increase in the overall index compared to the previous quarter than that for single-family homes (+0.3%).
Compared to the previous quarter, prices for single-family homes rose most strongly in cities with a large agglomeration and in the urban municipalities of medium-sized agglomerations (+0.7% each). There was only a slight decline in the intermediate municipalities (-0.1%).
Prices for owner-occupied apartments rose most significantly in the urban municipalities of medium-sized conurbations category (+2.0%). In contrast, prices fell in rural municipalities (-1.9%).
The IMPI is a relatively new indicator: it has only been published quarterly since the third quarter of 2020. According to the FSO, it is calculated from an average of around 7,000 transactions from all regions of Switzerland. The FSO obtains data from the 28 largest mortgage institutions in Switzerland. These cover a very large market share, as the vast majority of real estate purchases are financed with a mortgage, it says.
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