Annual review 2023: Whether buying or renting – house prices are on the rise

09.01.2024

Asking prices in the real estate market in December reflects the course of 2023. In the last twelve months, both asking rents and asking prices for condominiums have risen. Prices for single-family homes have tended to stagnate but at a very high level.

In December, advertised prices for condominiums rose by 0.6 per cent. In contrast, asking prices for single-family homes fell by 0.4 per cent. A similar, but weaker, trend can be seen in the annual development: While prices for condominiums rose by 2.6 per cent, those for single-family homes fell by 0.7 per cent. This is the first time in over ten years that the price development of these two forms of property went in opposite directions. This is according to the latest analysis of the Swiss Real Estate Offer Index, which is compiled and published by ImmoScout24 in collaboration with real estate consultancy IAZI.

Condominiums increasingly expensive, price plateau reached for houses
“Sellers of condominiums are hoping that potential buyers will purchase an affordable condominium unit rather than a single-family home, which means that this form of home ownership remains highly sought-after. This is currently driving asking prices even higher,” explains Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group.

In contrast, single-family home prices have apparently reached their peak for the time being. The very high purchase price level, in combination with a noticeable increase in borrowing costs, is leading to a decline in demand. In addition, the very high purchase prices are often accompanied by a significant need for investment, for example, in the area of energy-related refurbishments, which can make the decision to purchase a single-family home even more difficult.

Drastic increase in asking rents
The asking prices for rental apartments also increased in December. At 0.9 per cent, the increase was significantly high. As in the previous year, the increase for 2023 as a whole is a substantial 4.4 per cent, which is well above the expected annual inflation rate in Switzerland (1.4 per cent according to the CPI as at the end of November). “After the level of asking rents in Switzerland moved sideways for many years, there has now been a massive increase of 8.6 per cent in the last two years,” says Martin Waeber, summing up the situation. Depending on the region, there are major differences throughout 2023: Prices in the greater Zurich region (+5.7 per cent), Central Switzerland (+5.4 per cent) and Eastern Switzerland (+4.9 per cent) rose at an above-average rate, while prices in the Lake Geneva region rose by 4.3 per cent, which was slightly below the national average. Rental price growth was somewhat lower in the Central Plateau (+3.0 per cent) and Northwestern Switzerland (+1.9 per cent). By far, the smallest increase was recorded in Ticino (+0.5 per cent).

As of December 31st 2023

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)

01.12.2023 31.12.2023 Change in %
Month 278.6 281.2 +2.6 +0.9%
  31.12.2022 31.12.2023 Change in %
Year 269.4 281.2 +11.8 +4.4%

Sales offers for detached homes throughout Switzerland (CHF/m2)

  01.12.2023 31.12.2023 Change in %
Month 7448.1 7419.9 -28.3 -0.4%
  31.12.2022 31.12.2023 Change in %
Year 7475.4 7419.9 -55.6 -0.7%

Sales offers for freehold flats throughout Switzerland (CHF/m2)

  01.12.2023 31.12.2023 Veränderung in %
Month 8686.0 8737.2 +51.2 +0.6%
  31.12.2022 31.12.2023 Veränderung in %
Year 8515.4 8737.2 +221.9 +2.6%

The values may contain rounding differences.

Downloads (in German)

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.

 

Fotos vom Management mit und ohne Hintergrundfarbe als ZIP-Datei

Logo zum Download in allen Versionen