Home ownership is becoming more expensive
Prices for residential property rose in the third quarter of 2024 Prices for single-family homes in Central Switzerland rose the most year-on-year at 13.7 per cent. These are the findings of a recent survey by Raiffeisen Switzerland.
Prices for owner-occupied residential property rose in the third quarter of 2024 compared to both the previous quarter and the previous year, Raiffeisen Switzerland reported in a press release on the banking group’s latest transaction price index. “The price momentum on the Swiss owner-occupied property market has not weakened any further recently, so its low point is probably behind us,” says chief economist Fredy Hasenmaile. “The already significantly more favourable financing conditions and the prospect of further interest rate cuts should boost demand for residential property.”
Prices for single-family homes in the quarter under review were 1.6 per cent higher than in the previous quarter. In a year-on-year comparison, the experts at Raiffeisen Switzerland observed an increase of 3.3 per cent. Prices for condominiums were up 0.9 per cent quarter-on-quarter and 2.8 per cent year-on-year.
In a regional comparison, prices for single-family homes in Central Switzerland rose the most year-on-year at 13.7 per cent. Central Switzerland also led the way for condominiums with an increase of 7.9 per cent. By contrast, prices for single-family homes in the Bern and Lake Geneva regions fell by 2.1 and 3.4 per cent respectively year-on-year.