Prices on the Aargau property market are soaring
Prices on the cantonal real estate market continue to rise sharply. According to the Aargau Real Estate Barometer, the reasons for this are low interest rates, scarce building land reserves and robust economic development in the aftermath of the Corona crisis.
The Aargau Real Estate Barometer published by the Aargauische Kantonalbank (AKB) shows a sustained strong increase in cantonal real estate prices. The report on developments over the past twelve months names low interest rates and scarce building land reserves as the main drivers behind this development. Together with the robust economic development in the aftermath of the Corona crisis, this led to the “boom” in prices.
The AKB real estate barometer shows the development of the residential property market and also provides information on rents, vacancies and yields. The entire document can be downloaded from the AKB website.
Regarding regional development, the barometer says that price growth on the Aargau property market cannot be “slowed down”. In the past few months, the development has even picked up speed significantly. Single-family houses would be selling 5.4 percent higher than a year ago. The increase in condominiums is also 4.7 percent within a year.
Considering all 243 communities in the market area, according to the barometer, the purchase of a typical property with 140 square meters of living space, 450 square meters of land and garage space can be expected to cost between CHF 800,000 and CHF 900,000. However, the range of prices is considerable. In coveted locations such as Baden, Rheinfelden and Aarau, the same property is sometimes traded for well over a million francs.
Apartment rents throughout Switzerland remained unchanged within a year, as the evaluation of the published advertisements showed. In the same period, landlords in the Northwestern Switzerland region increased their asking prices slightly by 1.4 percent.