Home ownership is becoming more expensive
Home ownership prices rose 2.4 percent in the third quarter of 2021. The prices for single-family houses rose by 2.4 percent compared to the previous quarter. Condominiums were 2.3 percent more expensive. In a year-on-year comparison, home ownership increased by 6.9 percent.
According to a statement from the Federal Statistical Office ( FSO ), the Swiss residential property price index closed at 107.8 points in the third quarter of 2021. Compared to the previous quarter, this corresponds to growth of 2.4 percent. In a year-on-year comparison, the analysts of the FSO measured an increase in prices of 6.9 percent. The base value of the index was set at 100 points in the fourth quarter of 2019.
With the changes compared to the previous quarter, the analysts identify higher prices for single-family houses in the reporting quarter for all types of municipalities. The strongest increase of 3.4 percent was observed in single-family houses in urban communities in a small agglomeration or outside an agglomeration. On average, prices rose by 2.4 percent.
The prices for condominiums rose by an average of 2.3 percent in the same period. The price increase of 4.4 percent was most pronounced in urban communities within large agglomerations. In urban communities of small agglomerations or outside of agglomerations, however, the analysts observed an average decline in prices for condominiums of 0.5 percent.
