Single-family houses are becoming more expensive
Homeownership prices rose by a total of 0.2 percent in the third quarter of 2020. The prices for single-family houses rose by 1.1 percent compared to the previous quarter. The prices for condominiums, however, fell by 0.6 percent.
According to a report from the Federal Statistical Office ( FSO ), the Swiss residential property price index (IMPI), which was determined for the first time, closed at 100.8 points in the third quarter of 2020. Compared to the previous quarter, this corresponds to growth of 0.2 percent. In a year-on-year comparison, the analysts of the FSO measured an increase in prices of 2.6 percent. The base value of the index was set at 100 points in the fourth quarter of 2019.
With regard to the changes compared to the previous quarter, the analysts identify opposing developments in single-family homes and condominiums in the quarter under review. The prices for single-family homes had risen by 1.1 percent in a quarterly comparison. By contrast, prices for condominiums were 0.6 percent lower in the quarter under review than in the previous quarter.
The analysts had observed particularly significant increases in the prices for single-family houses of 2.6 and 2.2 percent in the urban communities of the large agglomerations and the rural communities. The most significant declines in prices for condominiums were registered in the intermediate and rual communities, each with minus 1.1 percent.