Prices for condominiums fall
While single-family homes and rental properties became slightly more expensive in August, prices for condominiums fell. This is shown by the latest figures of the "Swiss Real Estate Offer Index".
In the first half of 2016, offer prices for condominiums had risen steadily, but since July the "Swiss Real Estate Offer Index" compiled by ImmoScout24 in collaboration with IAZI AG has shown a downward trend. After a moderate decline of 0.4 percent in July, a discount of 1.5 percent can be observed in August. On a national average, the square meter of net living space for condominiums is now being offered for CHF 7,021.
"The latest figures in the condominium segment suggest a weakening of the previous development. However, a fundamental trend reversal is hardly to be expected for the time being," says Martin Waeber, Director of ImmoScout24. He expects demand and supply prices to pick up again, as many people have a strong desire to live in urban areas and houses are generally more expensive than condominiums.
For single-family homes, the "Swiss Real Estate Offer Index" shows an increase of two percent in August. This largely made up for the decline in the previous month of July, resulting in a 1.7 percent increase in offer prices across Switzerland on an annual basis. The average price per square meter of net living space for this property category is currently CHF 6,059.
After several months of slightly falling asking rents, a slight increase can be observed again for the first time in the month of August. The prices of rental properties advertised on ImmoScout24 rose by 0.7 percent across Switzerland. In particular, the positive developments in Central Switzerland and Ticino with 1.2 and 0.9 percent respectively were decisive here, according to market observers. The major regions of Zurich, eastern Switzerland and Lake Geneva, on the other hand, showed almost stagnant rental prices compared to the previous month. (ah)
