Prices for condominiums under slight pressure in November
Published: Thursday, Dec 5th 2024, 08:50
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Prices for residential property in Switzerland developed differently in November depending on the property type. While houses became slightly more expensive, prices for condominiums fell slightly.
This is according to the Swiss Real Estate Offer Index published on Thursday. It is compiled by the Swiss Marketplace Group in collaboration with the real estate consultancy IAZI.
Specifically, prices for condominiums fell by 1.4% last month, while single-family homes were 0.2% more expensive. Compared to the previous year, this represents a price increase of 1.5 percent for apartments and 2.3 percent for houses.
The downward correction in asking prices for condominiums could be interpreted as an indication that supply and demand on the market for condominiums are once again tending towards equilibrium, according to the press release. The number of newly built condominium units has also risen again recently. In contrast, construction activity for single-family homes is stagnating at a low level.
Breather for rents over
For tenants, the short breather from October is already over. Asking rents were increased by an average of 0.5% in November, following a fall of 2.8% in October. From a regional perspective, the highest price increases were recorded in Ticino (+3.7%), while advertised apartments in the Lake Geneva region and Central Switzerland became slightly cheaper.
Over the year as a whole, advertised rents have fallen by 1.0 percent.
©Keystone/SDA
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