Rents and home prices down in January

02.02.2023

Both rental flats and homes for sale were offered at lower values in January, as an analysis of the latest listings on ImmoScout24 shows. Is this the long-awaited effect of the interest rate turnaround on the real estate market?

The new year brings good news for all those who want to buy residential property: homes were offered at slightly lower prices in January, as shown by the Swiss Real Estate Offer Index, surveyed by the SMG Swiss Marketplace Group in co-operation with the real estate consultancy IAZI. For example, sellers of single-family homes adjusted their asking prices downwards by -0.7 per cent last month. The picture is virtually the same for condominiums, which saw a price reduction of -0.6 per cent.

The falling values could indicate that the significantly higher financing costs due to the interest rate turnaround are affecting the mood of prospective buyers and slowing down demand. The coming months will show whether this development is stable. The strong population growth and the low level of new construction activity may well ensure that the effect will soon fizzle out again.

Rents are also getting cheaper
In some regions, those looking for a rental flat could benefit from declining asking prices. On the national average, advertised rents fell by -1.1 per cent, even more in the regions of Ticino (-2.8 per cent), Central Switzerland (-1.6 per cent) and Zurich (-1.5 per cent). Smaller declines were also seen in eastern Switzerland (-1.0 per cent), the Lake Geneva region (-0.8 per cent) and the Central Plateau (-0.7 per cent). On the other hand, a slight increase was observed in northwestern Switzerland (+0.3 per cent).

“Falling rents are likely to remain the exception in the current year. The increasing shortage of rental flats, not only in the urban centres, as well as the probable increase in the reference interest rate relevant under rental law could soon cause supply prices to rise again,” says Martin Waeber, Managing Director Real Estate, SMG Swiss Marketplace Group.

Date: 31 January 2023

The Swiss Real Estate Offer Index is published on the websites of ImmoScout24 and IAZI AG.

https://www.immoscout24.ch/en/real-estate-index
www.iazi.ch/angebotsindizes

Detailed information and statistics on developments throughout Switzerland and in the various major regions can be found in the download area.

Rental offers all of Switzerland (CHF/m2 per year)

  01.01.2023 31.01.2023 Change in %
Month 269.4 266.6 -2.9 -1.1%
  31.01.2022 31.01.2023 Change in %
Year 258.5 266.6 8.0 3.1%

Offers to buy single-family houses all of Switzerland (CHF/m2)

  01.01.2023 31.01.2023 Change in %
Month 7475.4 7422.4 -53.0 -0.7%
  31.01.2022 31.01.2023 Change in %
Year 7184.6 7422.4 237.9 3.3%

Purchase offers for condominiums all of Switzerland (CHF/m2)

  01.01.2023 31.01.2023 Change in %
Month 8515.4 8463.3 -52.0 -0.6%
  31.01.2022 31.01.2023 Change in %
Year 8044.1 8463.3 419.2 5.2%

Downloads

Sebastian Sinemus
Senior Communications Manager Real Estate & Media Spokesperson

[email protected]

+41 79 819 21 50

Marta Andreoni

Head of Design for Automotive

Introduce yourself and your role at SMG

I’m Marta Andreoni, Head of Design at SMG Automotive. I lead the design and UX writing team shaping AutoScout24 user experience. 

In my role, I wear many hats. My main focus is ensuring we stay true to our vision “simplifying people’s lives and connecting humans through innovative digital platforms” and our brand promise, “make it happen”. I challenge my team to think user-first, push for innovation, ease of use for our customers and make forward-thinking decisions, even within business and technological constraints.

 A big part of my role is supporting each designer’s growth, motivation, and career development. Through one-on-one coaching, mentoring, group work, and projects, I help my colleagues set and achieve their goals while fostering new learning opportunities.

What helps you feel empowered and confident in your role?

If I had to mention one thing I would say “being proactive” has been key to feeling more empowered. I enjoy solving problems, so when issues or opportunities arise, be it in the product, market or the team, I get curious and I proactively investigate the reasons and try to bring inputs to be discussed with others, this makes me feel I can be part of the process or solution and my point of view is going to be taken seriously. My optimism also plays a role, giving me confidence that even the most complex challenges can be solved. 

Besides, having trust from other managers and colleagues makes me feel in a safe environment where I can take ownership on topics I’m passionate about. 

What’s one thing SMG does well in fostering an inclusive workplace? What more can be done to amplify and support different perspectives in the workplace?

In my experience, we strive for balancing top-down and bottom-up inputs, ensuring employees can influence product directions, processes, and culture. People are approachable, and our strong feedback culture helps voices be heard. Across SMG, initiatives like regular People & Culture Surveys, topic guilds, and events in our locations across the world foster open exchange and mutual learning.

That said, I’ve noticed that quieter voices sometimes get less space, or interacting with top management can feel intimidating, especially when giving critical feedback. To make participation more inclusive, we could apply more facilitation and group work techniques like structured turn-taking, written input, and smaller group discussions – ensuring everyone, regardless of confidence level, seniority or personality, feels comfortable contributing. 

Design is often about seeing the world differently. How do unique perspectives contribute to more innovative, inclusive, or impactful design?

Design is about understanding diverse user personas and perspectives to create solutions that truly meet their needs or create new opportunities. I believe in the power of collaboration to shape user experiences – bringing together different disciplines, backgrounds, and lived experiences helps challenge assumptions, uncover blind spots, and drive more inclusive, innovative, and impactful solutions.

Looking back on your career, what’s one lesson or piece of advice you wish you had known earlier as a leader in design?

There are three things no one really prepares you for as a design leader: dealing with constant change, facing failure and handling emotions at work. These topics aren’t talked about much until you face them. I was lucky to learn from others’ experiences, but much of it came through my own.

One thing I wish I had understood earlier is the power of emotional intelligence, my job is no longer about the content and the design, it is about people. Self-awareness, not just of your own emotions, but also how others feel and react, can be the difference between conflict and harmony, frustration and clarity. The more I grow as a leader and designer, the more I realise that design isn’t just about doing the design job, delivering solutions on the market: it’s about navigating people, their emotions, and making change more acceptable and transforming issues into opportunities, both within the organisation and through great products.

 

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