Residential real estate: asking rents decline
According to the Swiss Real Estate Offer Index, asking rents fell by 0.9 percent across Switzerland in April. In contrast, asking prices for owner-occupied apartments rose by 0.2 percent compared with the previous month of March.
Across Switzerland, asking rents fell slightly by 0.9 percent in April. According to the Swiss Real Estate Offer Index, the major regions of Zurich (+0.1%) and northwestern Switzerland (+/-0) were the only regions without a negative sign. The Lake Geneva region (-1.7%) and Ticino (-4.7%) head the negative list.
Asking prices for condominiums rose by 0.2 percent in April compared with the previous month of March. This means that the price per square meter in this property category is around CHF 7,150. Across Switzerland, this represents an increase of 0.5 percent on an annual basis. Since the start of index calculation at the beginning of 2011, there has been an increase of 22.8 percent.
More luxury single family homes on offer
Asking prices for single-family homes rose 5.7 percent in April. However, the increase was mainly due to a sharp rise in the number of luxury single-family homes advertised. Standard properties, which are also included in the index calculation, were not affected by the disproportionate increase, he said. "In April, the supply of luxury single-family homes on the ImmoScout24 real estate platform more than doubled compared to the previous month of March," explains Dr. Philippe Sormani, partner and chairman of the board of IAZI AG. This had led to a visible index increase in this category from mid-April onwards.
The fact that real estate in the luxury segment is no longer traded exclusively via an agent, but also via online platforms such as immoscout24.ch, is a new trend. How sustainable this increase in luxury properties is, however, remains to be seen, says Martin Waeber, Direcot ImmoScout24. On an annual basis, the price increase for single-family homes was 4.6 percent.
The Swiss Real Estate Offer Index is compiled monthly by ImmoScout24 in cooperation with the real estate consulting firm IAZI AG.
