Property market shows slight easing
Prices for single-family homes fell in February. Prices for condominiums remained stable month-on-month. Offer rents for flats also fell in February. These are the findings of the latest Swiss Real Estate Offer Index published by the SMG Swiss Marketplace Group.
Prices for single-family homes fell by 1.0 per cent in February compared to January, according to the SMG Swiss Marketplace Group(SMG) in a press release on the current Swiss Real Estate Offer Index. This means that the significant rise in prices at the beginning of the year has been reversed, write the SMG experts. The SMG Swiss Marketplace Group combines the digital marketplaces of TX Group, Ringier and Mobiliar.
Over the last twelve months, prices for single-family homes have remained relatively stable with only a slight increase of 0.1 per cent. SMG’s experts have also registered a stabilisation in the market for condominiums. A zero round was observed here in February. Following significantly stronger increases in previous years, prices have risen by an average of just 2.9 per cent across Switzerland over the last twelve months.
Asking rents for flats fell by an average of 0.6 per cent across Switzerland in February compared to January. Within the regions, asking rents were lower than in the previous month, particularly in Central Switzerland, the greater Zurich region, Ticino and Eastern Switzerland. In contrast, asking rents in the Central Plateau and the Lake Geneva region rose slightly.
“After several months of increases, February brought a ray of hope for flat seekers”, Martin Waeber, Managing Director Real Estate at SMG Swiss Marketplace Group, is quoted as saying in the press release. According to him, this is partly due to the planned maintenance of the reference interest rate under rental law at its current level.