Single-family homes with highest price increase in almost two years, rents also more expensive, condominiums cheaper

03.10.2024

In September, asking prices for owner-occupied homes went against recent trends. While the highest increase in a long time was recorded for single-family homes, condominiums had a slight decline. Rental prices increased again in almost all regions.

As the Swiss Real Estate Offer Index compiled by the SMG Swiss Marketplace Group in collaboration with the property consultancy IAZI shows, single-family homes were advertised at 1,5% higher values in September. Within a year, this represents a price increase of 1,7%.

“In the last twelve months, sellers of single-family homes have turned the price screw in both directions. Increases and decreases in the region of 1% were not uncommon. September has now seen the highest monthly increase in asking prices since December 2022. Financing conditions have once again improved significantly as interest rates have been falling again since March of this year. With supply remaining tight, sellers are apparently assuming that this will positively impact demand for single-family homes despite the high price level,” explains Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group. This is likely to be an important argument used by sellers to increase their asking prices again.

In contrast, asking prices in the condominium segment fell slightly by 0,3% last month. Over the year as a whole, however, asking prices had already risen significantly by 2,9%.

Higher prices for advertised rental flats in many regions
After a noticeable increase in August, asking rents increased again in September by +0,7%. Over the last twelve months, this represents an increase of 3,2%. The increase in the past month was particularly strong in the Central Switzerland region at +2,5%. The major regions of Zurich (+1,6%), Northwestern Switzerland (+1,0 %), Eastern Switzerland and Ticino (+0,9% each) also recorded an above-average increase. There was no change in the Espace Mittelland region (0,0%), while a reduction of -0,7% was recorded in the Lake Geneva region.

 

However, there is good news for tenants in an existing contractual relationship. Due to the Swiss National Bank’s third key interest rate cut in a row on 26 September 2024 and the prospect of further cuts in the coming months, a reduction in the reference rental rate in spring 2025 is a distinct possibility. Viewed in isolation, a reduction in the rent reference rate by 0,25 percentage points would result in a rent reduction of around 3%.

Date 30 September 2024

Purchase offers for single-family houses throughout Switzerland (CHF/m2)

  01.09.2024 30.09.2024 Change in %
Month 7463.6 7572.3 +108.7 +1.5%
  30.09.2023 30.09.2024 Change in %
Year 7448.9 7572.3 +123.4 +1.7%

Purchase offers for condominiums throughout Switzerland (CHF/m2)

  01.09.2024 30.09.2024 Change in %
Month 8888.5 8859.8 -28.8 -0.3%
  30.09.2023 30.09.2024 Change in %
Year 8607.3 8859.8 +252.5 +2.9%

Rental offers throughout Switzerland (CHF/m2 per year)

  01.09.2024 30.09.2024 Change in %
Month 280.7 282.7 +2.1 +0.7%
  30.09.2023 30.09.2024 Change in %
Year 274.1 282.7 +8.6 +3.2%

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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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