Residential property prices continue to rise
The prices for single-family houses and condominiums rose slightly in March in a month-on-month comparison across Switzerland. Rents, on the other hand, remained unchanged compared to February. This is shown by the current Swiss Real Estate Offer Index of the SMG Swiss Marketplace Group.
The prices for residential property continued to rise in March, according to the Freiburg real estate marketplace ImmoScout24 , which belongs to the Zurich SMG Swiss Marketplace Group . According to the latest Swiss Real Estate Offer Index, compiled by the group in cooperation with the real estate consultancy IAZI , prices for single-family homes rose by 0.5 percent in March compared to February. An increase of 6.6 percent was measured over the last twelve months.
Condominium prices rose 0.4 percent month-on-month in March. Compared to March 2021, the analysts of the index have observed a price increase of 8.0 percent.
In March, on the other hand, rents throughout Switzerland remained constant both on a monthly and yearly basis. Slight declines in advertised rents in the regions of Central Switzerland, Greater Zurich and Northwestern Switzerland offset increases in the Mittelland and Ticino.
“Although the war has not yet had any direct effects on the real estate market, it is likely to have an indirect impact on housing costs through energy prices,” said Martin Waeber, Managing Director Real Estate, SMG Swiss Marketplace Group, in the statement. “Should oil and gas remain at a high price level, this could lead to a significant increase in ancillary costs.” The digital marketplaces of the TX Group , Ringier and Mobiliar are combined in the SMG Swiss Marketplace Group.