The new surge is taking place despite more expensive financing. According to the Raiffeisen Transaction Price Index published on 12 October 2026, the recent rise in fixed-rate mortgage rates is not sufficient to slow down price growth in the owner-occupied housing market. The key factor remains the shortage of owner-occupied properties.
Compared with the third quarter of 2025, prices for detached houses rose by 3.6 per cent, whilst the increase for flats was as high as 5.9 per cent. This means market pressure on prospective buyers is intensifying further, whilst owners are benefiting from high buyer willingness to pay in a tight market.
Regional gap widens further
Detached houses saw particularly sharp price rises over the past year in Zurich (4.8 per cent) and in Western Switzerland (4.6 per cent). In Southern Switzerland, the increase was 3.3 per cent, and in Eastern Switzerland 3.5 per cent. For flats, Southern Switzerland led the way with a 7.4 per cent rise, whilst the Lake Geneva region saw a much more modest increase of 0.4 per cent.
Tourist municipalities pull ahead
A mixed picture also emerges when broken down by municipality type. For detached houses, central municipalities recorded the strongest annual rise at 5.2 per cent. For flats, tourist municipalities were clearly in the lead at 7.9 per cent. In town centres, the increase in flat prices was significantly weaker at 1.6 per cent.
The Raiffeisen Transaction Price Index is published quarterly and is based on the actual purchase prices paid, derived from property transfer data provided by Raiffeisen and the Swiss Real Estate Datapool. This is precisely why the findings are of particular significance to developers, marketers and financiers. Higher mortgage rates have not yet dampened demand, as the available supply remains too limited.
