Calming in the Swiss Real Estate Market

03.05.2023

The steady price increases in the real estate market have come to an end for the time being. In the month of April, there was a sideways movement in both the owner-occupied home and rental flat segments. Is this the long-awaited turnaround?

At the end of March, the Swiss National Bank further tightened its monetary policy and raised the key interest rate to 1.5 per cent. For buyers, this means a renewed increase in mortgage interest rates. The dampening effect on demand for residential property also seems to be influencing the behaviour of sellers: According to the Swiss Real Estate Offer Index, which SMG Swiss Marketplace Group publishes in cooperation with the real estate consultancy IAZI, their asking prices are practically unchanged from the previous month (single-family houses 0.0 per cent, condominiums +0.1 per cent).

Since further interest rate hikes are expected due to persistent inflation, a continuation of the calming of the market for properties for sale is likely. Nevertheless, Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group, does not expect a nationwide trend reversal: “The high level of immigration is causing a continuing demand for residential space, which is supporting prices, especially in the sought-after central locations and conurbations.”

A breather also for residential rents
A similar picture presents itself based on the current figures in the area of rental flats. Within the last month, the upward momentum has weakened in many places, resulting in a minus of 0.1 per cent across Switzerland. Regionally, an increase can be observed in Ticino (+1.2 per cent) and the Lake Geneva region (+0.6 per cent), while rental prices in the canton of Zurich (-0.7 per cent) and in central Switzerland (-1.4 per cent) are, for once, lower.

In contrast to home prices, however, it can be assumed that this is more of a temporary easing. Within a year, asking rents have increased in all regions of Switzerland, in some cases significantly. The limited supply and the low level of construction activity also suggest further upward pressure.

Date: 30th April 2023

The Swiss Real Estate Offer Index is published on the websites of ImmoScout24 and IAZI AG.

www.immoscout24.ch/immobilienindex
www.iazi.ch/angebotsindizes

Detailed information and statistics on developments throughout Switzerland, including the various major regions, can be found in the download area.

Rental offers for all of Switzerland (CHF/m2 per year)

  01.04.2023 30.04.2023 Change in %
Month 272.0 271.7 -0.3 -0.1%
  30.04.2022 30.04.2023 Change in %
Year 260.2 271.7 11.5 4.4%

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

  01.04.2023 30.04.2023 Change in %
Month 7431.6 7428.7 -2.9 0.0%
  30.04.2022 30.04.2023 Change in %
Year 7323.2 7428.7 105.6 1.4%

Purchase offers for condominiums all of Switzerland (CHF/m2)

  01.04.2023 30.04.2023 Change in %
Month 8582.2 8589.3 7.1 0.1%
  30.04.2022 30.04.2023 Change in %
Year 8304.5 8589.3 284.8 3.4%

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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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