Whether buying a house or apartment: Prices rose in August

Vendors of single-family homes and condominiums increased their price expectations slightly in August. However, those currently looking for a home do not necessarily have to increase their budget, depending on the property type. Tenants looking for accommodation were also confronted with higher asking prices last month.

CHF 7,464 – that’s how much sellers were asking per square meter of living space for single-family homes at the end of August. This corresponds to a price increase of 0,5% over the course of the month, as shown by the Swiss Real Estate Offer Index. This is compiled by ImmoScout24 in cooperation with the real estate consulting company IAZI. Extrapolated to a typical property with an area of 140 m2, the average asking price for single-family homes is currently around CHF 1,045,000.

But it wasn’t just the price tags of single-family homes that showed higher figures last month than before. Condominiums were also advertised at an average price of 0,6% more expensive, reaching a price per square meter of CHF 8,889. Based on an average living space of 110 m2, a typical apartment unit comes onto the market for around CHF 978,000.

“A look at the past few months shows that, at least for single-family homes, asking prices have often been revised downwards after increases – so a little patience can, therefore, pay off. Over the course of a year, asking prices remained practically constant at +0,1%. In the market for condominiums, on the other hand, a robust increase in asking prices of +3,1% can be observed over the last twelve months,” said Martin Waeber, Managing Director Real Estate at the SMG Swiss Marketplace Group.

Rental price development picks up pace
August brought less favourable news for those looking for a rental flat. With an increase in asking rents of 2,1%, an easing previously recorded in July has already been offset. The increase was strongest in the greater Zurich region at +4,6%. The increase was also above average in Central Switzerland (+2,5%) and Ticino (+2,4%). The increase was lower than the national average in Eastern Switzerland (+1,7%), the Central Plateau (+0,8%), the Lake Geneva region (+0,7 %) and Northwestern Switzerland (+0,5%).

However, the longer-term perspective also confirms the upward trend in advertised rental properties: Over the past twelve months, an average price increase of 3,4% was registered in the country.

Date 31 August 2024

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

Condominiums for sale throughout Switzerland (CHF/m2) 

Rental offers throughout Switzerland (CHF/m2 per year) 

 The values may contain rounding differences.