Noticeable price reductions for home buyers in February

05.03.2024

In addition to mild weather, the past month also brought an easing of the property market, as an analysis of listings on ImmoScout24 shows. Not only buyers of residential property benefited from falling asking prices, but also tenants looking for accommodation.

Prospective buyers of single-family homes were rewarded for their patience in February: prices published in advertisements fell by 1.0 per cent compared to the previous month. This more than reversed the significant increase at the beginning of the year, as the latest edition of the Swiss Real Estate Offer Index shows. This is compiled and published by ImmoScout24 in collaboration with the property consultancy IAZI.

At the end of February, the average advertised price per square metre of living space for single-family homes was CHF 7,411. Compared to the first of the month, this corresponds to a discount of around CHF 77 per square metre. “Anyone who waited a little longer to buy a house since the start of the year had an advantage, depending on the initial situation,” says Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group. House prices have also calmed down in the longer term: over the past twelve months, they have remained extremely stable at +0.1 per cent.

Condominiums maintain price level
In the condominium segment, February brought a zero round: asking prices from flat sellers remained at exactly the same level as in the previous month (0.0 per cent). Over the last twelve months, a price increase of +2.9 per cent can still be observed. However, in view of the exorbitant growth rates in previous years, the market for condominiums also appears to have reached a temporary limit.

Slight relief for tenants
Rental flats were advertised at 0.6 per cent lower prices on average across the country. Renters in Central Switzerland (-2.2 per cent), the greater Zurich region (-1.8 per cent), Ticino (-1.3 per cent) and Eastern Switzerland (-0.7 per cent) in particular can expect somewhat more moderate rents. Price expectations remained virtually unchanged in Northwestern Switzerland (-0.1 per cent), while slightly higher asking rents were observed in the Central Plateau (+0.4 per cent) and the Lake Geneva region (+0.5 per cent).

“After several months of increases, February brought a ray of hope for flat seekers,” attests Martin Waeber, adding that last Friday’s announcement that the reference interest rate under rental law would remain at its current level also contributed to this encouraging sign. In the longer term, however, asking rents are still on course for growth, as can be seen from the increase of 3.8 per cent over the last twelve months.

As at 29 February 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.

Rental offers throughout Switzerland (CHF/m2 per year)

  01.02.2024 29.02.2024 Change in %
Month 281.9 280.1 -1.8 -0.6%
  28.02.2023 29.02.2024 Change in %
Year 269.9 280.1 10.3 +3.8%

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

  01.02.2024 29.02.2024 Change in %
Month 7487.6 7411.1 -76.6 -1.0%
  28.02.2023 29.02.2024 Change in %
Year 7406.6 7411.1 4.4 +0.1%

 Condominiums for sale throughout Switzerland (CHF/m2)

  01.02.2024 29.02.2024 Change in %
Month 8749.8 8746.2 -3.6 0.0%
  28.02.2023 29.02.2024 Change in %
Year 8498.9 8746.2 247.3 +2.9%

The values may contain rounding differences.

Sebastian Sinemus
Senior Communications Manager Real Estate & Mediensprecher

[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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