Prices for condominiums on the rise
Prices for condominiums rose in October both month-on-month and year-on-year. By contrast, prices for single-family homes fell slightly in both periods. These are the findings of a survey by the SMG Swiss Marketplace Group.
Prices for residential property developed differently in October, the SMG Swiss Marketplace Group reports in a press release on the current Swiss Real Estate Offer Index. The SMG Swiss Marketplace Group brings together the digital marketplaces of TX Group, Ringier and Mobiliar.
Specifically, prices for condominiums rose by 0.7 per cent in October after a pause in September. The experts at SMG Swiss Marketplace Group have observed a year-on-year increase in prices of 2.1 per cent. By contrast, prices for single-family homes were 0.3 per cent lower in October than in September. In a year-on-year comparison, prices were 0.2 per cent lower.
“The continued growth in asking prices for condominiums is remarkable considering that the supply of available condominium units has increased significantly since the beginning of the year,” said Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group, in the press release. “The housing market has also seen a slight increase in the supply of existing properties in recent months, which has contributed to the stabilisation of prices for single-family homes.”
Asking rents rose by 0.4 per cent in October compared to the previous month. A year-on-year increase of 2.7 per cent was observed. The experts at SMG Swiss Marketplace Group attribute the increase to the continuing shortage of supply in the centres.