Housing prices develop differently

Prices for condominiums were slightly higher in July than in June. By contrast, prices for single-family homes fell at the same time. Asking rents also fell. These are the findings of the latest Swiss Real Estate Offer Index published by the SMG Swiss Marketplace Group.

Anyone looking to buy a condominium had to spend slightly more in July than in the previous month. Specifically, prices for condominiums rose by an average of 0.6 per cent, SMG Swiss Marketplace Group(SMG) reported in a press release on the current Swiss Real Estate Offer Index. The SMG Swiss Marketplace Group combines the digital marketplaces of TX Group, Ringier and Mobiliar.

By contrast, prices for single-family homes fell by an average of 1.1 per cent in July compared to June. This puts the price level at roughly the same level as at the end of 2023, according to the press release. “For many potential buyers, a single-family home is still difficult to afford despite the recent decline,” Martin Waeber is quoted as saying. According to the Managing Director Real Estate at SMG, buying a condominium with a smaller living space is therefore the only alternative for many. According to Waeber, this is leading to a shift in demand with an impact on the prices of both types of residential property.

SMG’s property experts observed a 2.2 per cent decline in asking rents across Switzerland in July compared to June. At 3.7 per cent, this was most pronounced in Ticino. Central Switzerland and the greater Zurich region followed with declines of 3.2 per cent each. The smallest decline in asking rents was recorded in north-western Switzerland with an average of 0.5 per cent.