Asking prices for condominiums rose again in September. Prices for single-family homes, however, remained unchanged, as in the previous month. The market will receive an additional boost in the medium term from the abolition of imputed rental value, approved by the Swiss electorate, which will bring tax benefits for many homeowners and buyers.
Despite the uncertain economic situation, many real estate providers continue to see positive scope for rising or at least stable property prices in Switzerland’s stable political environment. According to the ImmoScout24 Purchase Index, compiled in cooperation with real estate consulting firm IAZI, asking prices for condominiums rose by an average of 0,5% in September. For single-family homes, however, the price level remained unchanged once again (0,0%). The picture varies from region to region: In some markets, prices have continued to rise despite an expansion in supply, while in others they have fallen slightly.
Condominiums: Eastern and Central Switzerland are booming
The most significant price increases for condominiums on offer compared to the previous month were recorded in Eastern Switzerland (up 1,3%) and Central Switzerland (up 1,2%), accompanied in both cases by a rise in supply volume. However, the Swiss Plateau also saw a noticeable increase (up 0,7%), while there were only minor changes in Ticino (up 0,2%) and the Greater Zurich area (down 0,1%). The only clear decline was in Northwestern Switzerland (down 1,3%).
Regional single-family home market: Decline in almost all regions
In the segment of advertised single-family homes, asking prices fell in most regions compared to August. The decline was particularly pronounced in Central Switzerland (down 1,8%). Price reductions were also observed in the Lake Geneva region (down 0,7%), the Swiss Plateau (down 0,6%), Ticino (down 0,5%), the Greater Zurich area (down 0,4%), and Northwestern Switzerland (down 0,2%). The only exception was Eastern Switzerland, where prices rose significantly by 2,9% compared with the previous month.
Imputed rental value to be abolished: New opportunities for buyers
After almost a century, Swiss voters decided on 28 September 2025 to abolish the imputed rental value. This means that in future, there will be no taxation of notional income, which will reduce the tax burden on homeowners and thus make home ownership more attractive overall. Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group, assesses the consequences of this decision as follows: “Households with a higher equity ratio and low mortgage costs will benefit particularly from the upcoming change in the law. Thanks to the future regulation for first-time buyers, which allows mortgage interest to continue to be tax-deductible for the first ten years, home ownership will remain attractive for first-time buyers.” At the same time, new and nearly new condominiums and single-family homes in particular are likely to see more substantial price increases, Waeber continues. “For older properties in need of extensive renovation, however, price growth may slow down once the new regulation comes into force in 2028, as maintenance costs will no longer be tax-deductible,” Waeber predicts. Regardless of this, Waeber sees immigration, interest rates and the scarcity of building land as the main drivers of further price developments beyond 2028.
Date 30 September 2025
Purchase offers for single-family homes throughout Switzerland (CHF/m2)
| 01.09.2025 | 30.09.2025 | Change | in % | |
| Month | 7783.6 | 7780.4 | -3.2 | +0.0% |
| 30.09.2024 | 30.09.2025 | Change | in % | |
| Year | 7579.6 | 7780.4 | +200.8 | +2.6% |
Purchase offers for condominiums throughout Switzerland (CHF/m2)
| 01.09.2025 | 30.09.2025 | Change | in % | |
| Month | 9162.6 | 9212.4 | +49.8 | +0.5% |
| 30.09.2024 | 30.09.2025 | Change | in % | |
| Year | 8759.2 | 9212.4 | +453.2 | +5.2% |
Values may have rounding differences.
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