Prices for single-family homes rise slightly in the second quarter
Published: Friday, Jul 12th 2024, 11:20
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Prices for single-family homes rose slightly in the second quarter of 2024. In contrast, prices for condominiums stagnated, although there were significant regional differences.
In the second quarter of 2024, prices for single-family homes rose by 0.6 percent compared to the previous quarter, as reported by Zurich-based consultancy firm Fahrländer Partner Raumentwicklung (FPRE) on Friday.
The year-on-year increase was 4.7%. The increase was most pronounced in the high-end market segment (+5.5%) and lowest in the mid-range segment (+3.8%).
In contrast, prices for condominiums in the lower and middle segments remained more or less stable in the second quarter. There was a slight decline of 2.2% in the upper market segment. Compared to the same quarter of the previous year, the increase was only 1.2 percent.
There were comparatively large regional differences in prices for condominiums in the mid-market segment. According to the press release, prices rose most sharply in the Zurich region (+1.1%) and Geneva (+1.0%). In contrast, a significant decline was recorded in southern Switzerland (-4.1%) and to a lesser extent in the Alpine region and the Jura (-0.7% each) as well as in Basel (-0.6%).
Due to high demand and low construction activity, the authors of the study expect prices for residential property in Switzerland to continue to rise in the medium term.
On Thursday (yesterday), the "SWX IAZI Private Real Estate Price Index" came to a similar conclusion. According to this survey, the actual transaction prices paid on the market for residential property rose by 1.1% in the second quarter and by 4.5% year-on-year.
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