The Swiss Times - Swiss News in English

Swiss Residential Property Prices Climb in Q4 and Throughout 2023

  • By The Swiss Times
  • 2 February 2024

Swiss residential property sees a surge in the fourth quarter, marking a consistent rise through 2023. The uptick spans single-family homes and apartments, reflecting a robust real estate market.

Swiss Residential Property Prices Climb in Q4 and Throughout 2023

In Switzerland, the trajectory for residential property prices maintained an upward curve in the final quarter of 2023 and across the year. The market for single-family homes and apartments experienced a noticeable appreciation in value.

The Federal Statistical Office (FSO) disclosed that the Swiss Residential Property Price Index (IMPI) escalated by 1.1%, reaching 117.4 points from October to December 2023 compared to the preceding quarter. This increase was primarily propelled by a 0.5% rise in single-family home prices and a more pronounced 1.7% uptick in condominium prices, boosting the overall index.

A year-on-year comparison reveals a 1.2% price augmentation from the same quarter in the previous year, illustrating a divergence in the market dynamics between houses and apartments. Condominiums saw a 2.5% price rise, whereas single-family homes experienced a marginal decline of 0.2%.

The 2023 annual overview showed an average 2.2% elevation in residential property prices. Breaking this down, single-family homes recorded a 1.9% average increase, while condominiums increased by 2.4%.

Municipality-wise, the market exhibited varied trends. The urban areas within large conurbations witnessed the most significant price hikes for single-family homes in the fourth quarter, whereas medium-sized urban conurbations saw the steepest declines. For condominiums, the most substantial price growth occurred in small agglomerations or those outside agglomerations, with significant accumulations experiencing minimal price reductions.

The IMPI, a relatively nascent metric initiated in the third quarter of 2020, aggregates data from approximately 7,000 transactions across Switzerland’s regions. The index is informed by data from Switzerland’s top 25 mortgage institutions, capturing a vast segment of the market given the prevalent reliance on mortgages for real estate acquisitions.

©Keystone/SDA

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