Single-family houses are very popular even in times of crisis
The demand for single-family homes was also high in the corona crisis year 2020. In regions like Zurich, they sold within 43 days, even faster than the year before. This is shown by an evaluation by the Zurich School of Economics and Homegate.
The speed at which sellers have been able to sell their homes over the past year has varied widely across regions. While single-family houses in the greater Zurich area became even scarcer and were sold within an average of 43 days, it took 100 days longer in Ticino. This is the finding of the Swiss Real Estate Institute of the Zurich School of Economics (HWZ) and the online real estate marketplace Homegate in their biannual evaluation of real estate advertisements on the Internet.
Accordingly, the average advertisement time for single-family houses on the leading online real estate portals in Switzerland rose by 26 percent in 2020 from 61 to 77 days. This development was driven by the regions of Ticino and Waadt / Wallis. In Ticino, advertisements were on the Internet 60 percent longer before they were sold than in 2019. In the Vaud / Wallis region, it took 25 percent longer and thus 71 days to sell a house than in the previous year.
The authors of the study see a possible reason for the increase in the average tendering time in the uncertainty in the crisis year, which made many wait and see. Nevertheless, the demand remained high. “In some regions it took a little longer to sell a property for a short time. But we can see that the tide has already turned again and that single-family houses are very popular even in times of crisis, ”Jens Paul Berndt, CEO of Homegate, is quoted in a press release.