Home ownership is becoming more expensive
Residential property prices continued to rise in the second quarter of 2024. The BFS residential property price index shows a quarterly increase of 1.1 percent. Price growth was particularly strong in rural municipalities.
Prices for residential property continued to rise in the second quarter of 2024, theSwiss Federal Statistical Office(SFSO) reported in a press release. The residential property price index it collects rose by 1.1% quarter-on-quarter and currently stands at 117.5 points. Year-on-year, the experts at the FSO have observed an increase of 1.4 percent. The index base was fixed at 100 points in the fourth quarter of 2019.
Prices for condominiums rose by 0.9% quarter-on-quarter and by 1.7% year-on-year. Single-family homes rose by 1.2% quarter-on-quarter and 1.0% year-on-year. The property price index for single-family homes closed the quarter at 118.6 points. Its counterpart for condominiums was slightly lower at 116.5 points.
According to the FSO experts, prices for single-family homes rose in all types of municipalities during the quarter under review. They observed the strongest increase of 2.3 percent in the category of rural municipalities. In this category, prices for condominiums also rose particularly sharply by 2.7%. In contrast, prices for condominiums in the urban municipalities of a large conurbation fell by 0.3%.