Housing is becoming more expensive
In June, prices for single-family homes increased by 1.2 percent and for condominiums by 1.0 percent, according to the SMG Swiss Marketplace Group. Listing rents also saw a slight increase of 0.4 percent compared to the previous month.
People interested in buying their own home had to dig deeper into their pockets in June than in May. Prices for single-family homes rose by 1.2 per cent last month, explains the SMG Swiss Marketplace Group(SMG) in a press release on the current Swiss Real Estate Offer Index. At the same time, SMG’s experts observed a price increase of 1.0 per cent for condominiums. The SMG Swiss Marketplace Group combines the digital marketplaces of TX Group, Ringier and Mobiliar.
“The Swiss National Bank’s further reduction in key interest rates on 20 June and the prospect of a further reduction in September will result in lower financing costs for mortgages”, comments Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group, in the press release. “This increases both the attractiveness of owning your own four walls and their affordability.”
SMG’s property experts recorded a month-on-month increase of 0.4 per cent in asking rents across Switzerland. At 3.3 per cent, rents rose the most in Ticino. This was followed by Central Switzerland with 1.8 per cent and Eastern Switzerland with 1.2 per cent. In the major regions of Zurich and Northwestern Switzerland, however, rents were 0.6 and 0.2 per cent lower than in May.