New tenants again had to dig noticeably deeper into their pockets last month. The asking prices for residential property, on the other hand, are developing differently: While price expectations for condominiums are rising, the stabilisation phase for single-family homes is continuing.
After a brief pause in the previous month, advertised prices for condominiums rose again strongly in October, by +0.7 per cent. In contrast, asking prices for single-family homes declined slightly (-0.3 per cent). On an annual basis, the asking prices for these types of residential properties are also drifting apart: Noticeably higher asking prices for condominiums (+2.1 per cent), but no further increase for single-family homes (-0.2 per cent). This is the result of the latest analysis of listings in the Swiss Real Estate Offer Index, which is compiled and published by SMG Swiss Marketplace Group in cooperation with the real estate consulting firm IAZI.
Condominiums: Sellers have higher price expectations
”The further increase in asking prices for condominiums is remarkable, considering that the supply of available condominium units has increased noticeably since the beginning of the year,” says Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group. Irrespective of this, providers of condominiums assume that demand will continue to significantly exceed supply and that higher sales prices can, therefore, be achieved.”The housing market has also seen a slight increase in the supply of existing properties in recent months, which has contributed to the stabilisation of prices for single-family homes,” Waeber continued.
October brings higher asking rents
The shortage of rental housing, especially in the city centres, led to an increase of +0.4 per cent in October for tenants looking for accommodation. Over the course of the year, the increase was an impressive +2.7 per cent. Depending on the region, the trend differs from the national average. While the increase in eastern Switzerland (+1.1 per cent), the greater Zurich region (+0.8 per cent), northeastern Switzerland (+0.7 per cent) and the Lake Geneva region (+0.5 per cent) is above the national average, no change can be observed in the Central Plateau (0.0 per cent). Central Switzerland (-0.6 per cent) and Ticino (-0.7 per cent), on the other hand, have seen declines.
As of October 31 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)
| 01.10.2023 | 31.10.2023 | Change | in % | |
|---|---|---|---|---|
| Month | 274.1 | 275.3 | +1.2 | +0.4% |
| 31.10.2022 | 31.10.2023 | Change | in % | |
| Year | 268.1 | 275.3 | +7.2 | +2.7% |
Sales offers for detached homes throughout Switzerland (CHF/m2)
| 01.10.2023 | 31.10.2023 | Change | in % | |
| Month | 7448.9 | 7425.5 | -23.4 | -0.3% |
| 31.10.2022 | 31.10.2023 | Change | in % | |
| Year | 7438.5 | 7425.5 | -13.0 | -0.2% |
Sales offers for freehold flats throughout Switzerland (CHF/m2)
| 01.10.2023 | 31.10.2023 | Change | in % | |
| Month | 8607.3 | 8663.2 | +55.9 | +0.7% |
| 31.10.2022 | 31.10.2023 | Change | in % | |
| Year | 8484.8 | 8663.2 | +178.4 | +2.1% |
The values may contain rounding differences.
Sebastian Sinemus
Senior Communications Manager Real Estate & Media Spokesperson
