Home prices rise in the second quarter
Published: Wednesday, Jul 17th 2024, 09:50
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Condominiums and single-family homes became slightly more expensive on average in the second quarter. According to the real estate platform RealAdvisor, prices for houses and apartments have risen by 0.6% in the last three months.
Over the past twelve months, this represents an increase of 1.9 percent for apartments, according to a press release issued on Wednesday. Compared to the previous year, houses cost 1 percent more.
Prices rose at an above-average rate, particularly in low-tax cantons. The most significant price increases were recorded in Obwalden (+2.3% apartments, +2.0% houses), Nidwalden (+2.4% apartments, +1.8% houses) and Zug (+1.9% apartments, +1.6% houses).
Fewer sales
Meanwhile, the number of sales was below the previous year's level. In Geneva (-4.7%) and Zurich (-6.6%) in particular, the transaction volume fell significantly compared to the previous year. This was due to the insufficient supply of properties and the lack of new buildings.
However, RealAdvisor expects a slight recovery in the transaction market in the second half of the year. According to the report, falling interest rates should encourage a normalization.
©Keystone/SDA
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