Condominiums more expensive again, but prices for houses and rents ease

07.08.2024

In July, advertised prices for condominiums rose slightly. However, the situation was different for single-family homes, where asking prices fell last month. The situation is also easing for asking rents.

Single-family homes were advertised at significantly lower prices in July than in the previous month. The reduction amounts to 1,1%, while condominiums became 0,6% more expensive in the same period. Prices for houses have fluctuated in various waves in recent months. In most cases, a month of increase was immediately followed by a period of decline. This indicates that sellers are looking for the optimum transaction price. These are the findings of the Swiss Real Estate Offer Index, which is compiled by ImmoScout24 in collaboration with the property consultancy IAZI.

In contrast to condominiums, which remain in high demand, the price level for houses is roughly at the same level as at the end of 2023, following the decline in July. “For many potential buyers, a single-family home is still difficult to afford despite the recent decline,” says Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group, summarising the current market situation. “If they still want to realise their desire to own their own home, purchasing a condominium – despite the higher prices per square metre but with a smaller living space – would often be the only way to achieve this goal”, Waeber continued. Accordingly, demand is shifting towards the apartment market sector in some places, which affects the price of both types of property.

Offered rents: Noticeable relief
In addition to the summer we have been missing so far and the Olympic Games, the past month brought some good news for apartment hunters: Asking rents have fallen in all regions of Switzerland compared to the previous month. Anyone currently looking for a rental flat can expect prices to be 2,2% lower on a national average. Over the twelve-month period, this means an upward trend of plus 0,9%.

Although declines can be seen in all parts of the country, as usual, rental price trends differed from the national trend depending on the region. The decline was greater than the national average in Ticino (-3,7%), Central Switzerland (-3,2%) and the greater Zurich region (-3,2%). In the Lake Geneva region (-2,0%), the decline is in line with the overall average, while more modest reductions can be observed in Eastern Switzerland (-1,6%), the Central Plateau (-0,9%) and Northwestern Switzerland (-0,5%).

Existing tenants can also breathe a sigh of relief. Due to the latest interest rate developments, further across-the-board rent increases are unlikely for the time being. At the same time, however, a reduction can be practically ruled out until at least spring 2025.

As at 31 July 2024

The Swiss Real Estate Offer Index is published on the ImmoScout24 and IAZI AG websites.
www.immoscout24.ch/immobilienindex
www.iazi.ch/angebotsindizes

Detailed information and statistics about the overall Swiss trend and those in the various regions are available in the Download section. 

Offers to buy detached houses throughout Switzerland (CHF/m2) 

  01.07.2024 31.07.2024 Change in %
Month 7508.1 7427.1 -80.9 -1.1%
  31.07.2023 31.07.2024 Change in %
Year 7401.0 7427.1 +26.1 +0.4%

Condominiums for sale throughout Switzerland (CHF/m2)

  01.07.2024 31.07.2024 Change in %
Month 8786.5 8837.2 +50.7 +0.6%
  31.07.2023 31.07.2024 Change in %
Year 8635.3 8837.2 +202.0 +2.3%

Rental offers throughout Switzerland (CHF/m2 per year)

  01.07.2024 31.07.2024 Change in %
Month 281.2 274.9 -6.3 -2.2%
  31.07.2023 31.07.2024 Change in %
Year 272.4 274.9 +2.5 +0.9%

 The values may contain rounding differences.

Downloads (partly in German)

Fabian Korn
Communications Manager Real Estate

[email protected]
+41 44 711 86 29

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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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