Rising prices for single-family homes in April
Published: Tuesday, May 7th 2024, 09:10
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Prices for single-family homes in Switzerland rose in April. According to the "Swiss Real Estate Offer Index" published on Tuesday by Immoscout24 and real estate consultancy IAZI, asking prices rose by 1.2 percent. The market for single-family homes thus got off to a dynamic start in the second quarter.
According to Martin Waeber, Head of Real Estate at SMG Swiss Marketplace Group, it remains to be seen whether sellers' higher asking prices can be realized. "Although the dream of owning a home is still widespread among the population, prospective buyers have become more selective."
In the current year, the high price level and stricter financing guidelines of recent years have so far led to a decline in transaction volumes for single-family homes, the report continued. Meanwhile, looking back, the majority of asking prices have been moving sideways for some time.
Relaxation for condominiums
Meanwhile, the situation on the market for condominiums has eased. Asking prices fell by 1.2 percent in April. After years of boom, the segment has now taken a breather, according to the report. Compared to the previous year, the increase in value amounted to 1.1%, which is the lowest annual growth rate since the beginning of 2020, according to the data.
The situation on the rental market has also eased. According to the press release, advertised rents fell slightly in April. However, despite the 0.2% decline in asking rents compared to the previous month, this still resulted in an increase of a high 2.7% over the year as a whole.
From a regional perspective, rents in Eastern Switzerland (-1.3%) and Central Switzerland (-1.0%) fell the most in April. However, there were also declines in Ticino (-0.7 percent), the Central Plateau region (-0.4 percent) and the canton of Zurich (-0.1 percent).
By contrast, there are no signs of price weakness on the rental market in Northwestern Switzerland (+0.3 percent) and the Lake Geneva region (+0.4 percent) for the time being.
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