Prices for residential property rose again in October
Published: Thursday, Nov 7th 2024, 09:00
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Prices for residential property in Switzerland continued to rise in October. Tenants, on the other hand, can breathe a sigh of relief: asking rents have fallen.
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 rose by 1.0% last month, while single-family homes were 0.4% more expensive. Compared to the previous year, this represents a price increase of 3.2% for condominiums and 2.4% for single-family homes.
Parallel to the rise in the price of residential property, however, asking rents fell significantly in October. Nationwide, the index shows a decline of 2.8%.
The decline was particularly sharp in the Zurich region (-6.8%) and in Central Switzerland (-5.5%). Rents also fell noticeably in Ticino (-3.1%) and Eastern Switzerland (-1.2%).
The decline was less pronounced in Northwestern Switzerland (-0.9%), Espace Mittelland (-0.6%) and the Lake Geneva region (-0.1%). Over the course of a year, however, the change in rental prices remains marginal with a fall of 0.2%.
©Keystone/SDA
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