immo!nvest – Die Plattform für Standorte und Immobilien

Tag: Swiss Real Estate Offer Index

  • Housing prices develop differently

    Housing prices develop differently

    Anyone looking to buy a condominium had to spend slightly more in July than in the previous month. Specifically, prices for condominiums rose by an average of 0.6 per cent, SMG Swiss Marketplace Group(SMG) reported in a press release on the current Swiss Real Estate Offer Index. The SMG Swiss Marketplace Group combines the digital marketplaces of TX Group, Ringier and Mobiliar.

    By contrast, prices for single-family homes fell by an average of 1.1 per cent in July compared to June. This puts the price level at roughly the same level as at the end of 2023, according to the press release. “For many potential buyers, a single-family home is still difficult to afford despite the recent decline,” Martin Waeber is quoted as saying. According to the Managing Director Real Estate at SMG, buying a condominium with a smaller living space is therefore the only alternative for many. According to Waeber, this is leading to a shift in demand with an impact on the prices of both types of residential property.

    SMG’s property experts observed a 2.2 per cent decline in asking rents across Switzerland in July compared to June. At 3.7 per cent, this was most pronounced in Ticino. Central Switzerland and the greater Zurich region followed with declines of 3.2 per cent each. The smallest decline in asking rents was recorded in north-western Switzerland with an average of 0.5 per cent.

  • Turnaround in interest rates not curbing rise in real estate prices for the time being

    Turnaround in interest rates not curbing rise in real estate prices for the time being

    Will the real estate price rally in Switzerland come to an end with rising interest rates? In June there were no signs of a turnaround, at least on the supply side. On the contrary: sellers of condominiums increased their price expectations by a further 1.1 percent within a month. Providers also demanded higher prices for single-family homes in June. However, the surcharge is somewhat lower at 0.3 percent, as shown by the Swiss Real Estate Offer Index, which is compiled by the SMG Swiss Marketplace Group in cooperation with the real estate consulting company IAZI.
    It remains to be seen whether the willingness to pay will continue to follow the rising price expectations. This does not seem out of the question, as mortgage costs are by no means the only criterion when buying a home. In addition, unlike Fix mortgages, money market mortgages are still available at extremely attractive conditions. Since prospective buyers already have to demonstrate that they can cope with a mortgage interest rate of around 5 percent due to the applicable affordability rules, a collapse in demand is not to be expected.

    Unchanged rents in June
    The rental prices offered in advertisements hardly changed at 0.1 percent in June. Asking rents are primarily influenced by the direct demand for living space. This is in contrast to existing tenancies: there could be increases due to the fact that tenancy law is linked to the reference interest rate and general inflation. “The high energy prices are likely to have a far greater impact on asking or existing rents than rising interest rates. Not least in the case of old buildings, these will lead to a significant increase in ancillary costs,” says Martin Waeber, Managing Director Real Estate, SMG Swiss Marketplace Group.

  • No end to the boom in the Swiss real estate market

    No end to the boom in the Swiss real estate market

    Tenants who wish to move must be prepared for higher rents when looking for an apartment. After several months with practically unchanged values, landlords raised their price expectations by an average of 0.7 percent in May. The correction is almost as large as the change registered over the last twelve months (0.9 percent). This is shown by the Swiss Real Estate Offer Index, which is collected by the SMG Swiss Marketplace Group in cooperation with the real estate consulting company IAZI.

    However, the development of rents differs depending on the region. Apartment seekers in the greater Zurich region (1.8 percent) and in central Switzerland (1.2 percent) are confronted with a significant increase in asking rents. The surcharges are lower in the Lake Geneva region (0.5 percent) and in north-western Switzerland (0.4 percent), while in the central region (0.1 percent) and in eastern Switzerland (0.1 percent) there are practically no changes. In contrast, rents have fallen in Ticino (−0.8 percent).

    Home ownership: The boom is not over
    The real estate market is currently in focus mainly because of the high prices for residential property. Against the background of rising mortgage interest rates, many observers expect the situation to cool down soon. However, the asking prices are still on the rise, as the analysis of the advertisements in May shows.

    “For single-family houses, 1.0 percent higher values were required than in the previous month, for condominiums the price growth is 0.2 percent. The interest-related increase in financing costs does not seem to bother prospective buyers much. At least sellers are still assuming an increasing willingness to pay,” says Martin Waeber, Managing Director Real Estate, SMG Swiss Marketplace Group.

    As of May 31, 2022
    The Swiss Real Estate Offer Index is published on the websites of ImmoScout24 and IAZI AG.
    www.immoscout24.ch/immobilienindex
    www.iazi.ch/angeboteindexes

  • Home prices continue to rise

    Home prices continue to rise

    The prices for residential property continued to rise in April, according to the Freiburg real estate marketplace ImmoScout24 , which belongs to the Zurich SMG Swiss Marketplace Group . According to the latest Swiss Real Estate Offer Index compiled by the group in cooperation with the real estate consultancy IAZI , prices for single-family homes rose by 0.6 percent in April compared to March. An increase of 8.3 percent was measured over the last twelve months.

    Condominium prices rose even more sharply in April, up 1.4 percent month-on-month. Compared to April 2021, the analysts of the index have observed a price increase of 8.1 percent. In April, however, rents throughout Switzerland remained almost unchanged in both a monthly and year-on-year comparison. A slight decline in asking rents in the greater Zurich region offset increases in eastern Switzerland, north-western Switzerland and Ticino.

    For the future, the analysts are assuming a weakening of the price dynamics for residential property. “De facto, mortgage interest rates have been rising for several months, making real estate financing more expensive,” explains Martin Waeber, Managing Director Real Estate, SMG Swiss Marketplace Group, in the press release. “The more these costs rise, the more likely it is that prices will calm down.” The SMG Swiss Marketplace Group combines the digital marketplaces of TX Group , Ringier and Mobiliar .

  • Residential property prices continue to rise

    Residential property prices continue to rise

    The prices for residential property continued to rise in March, according to the Freiburg real estate marketplace ImmoScout24 , which belongs to the Zurich SMG Swiss Marketplace Group . According to the latest Swiss Real Estate Offer Index, compiled by the group in cooperation with the real estate consultancy IAZI , prices for single-family homes rose by 0.5 percent in March compared to February. An increase of 6.6 percent was measured over the last twelve months.

    Condominium prices rose 0.4 percent month-on-month in March. Compared to March 2021, the analysts of the index have observed a price increase of 8.0 percent.

    In March, on the other hand, rents throughout Switzerland remained constant both on a monthly and yearly basis. Slight declines in advertised rents in the regions of Central Switzerland, Greater Zurich and Northwestern Switzerland offset increases in the Mittelland and Ticino.

    “Although the war has not yet had any direct effects on the real estate market, it is likely to have an indirect impact on housing costs through energy prices,” said Martin Waeber, Managing Director Real Estate, SMG Swiss Marketplace Group, in the statement. “Should oil and gas remain at a high price level, this could lead to a significant increase in ancillary costs.” The digital marketplaces of the TX Group , Ringier and Mobiliar are combined in the SMG Swiss Marketplace Group.

  • Apartment rents and prices rise towards the end of the year

    Apartment rents and prices rise towards the end of the year

    A stiff breeze was blowing against those looking for accommodation in November. With an increase of 1.5 percent, the rents advertised have increased significantly across Switzerland. This difference is put into perspective, however, by looking at the longer-term development: over the past twelve months, the change is much more moderate at 1.0 percent. This is shown by the Swiss Real Estate Offer Index, which is collected by ImmoScout24 in cooperation with the real estate consultancy IAZI AG.

    The drivers of the rent increase in November are the Greater Zurich Region and the Central Plateau, each with an increase of 0.6 percent. Due to their market size, they have a disproportionately large impact on the Switzerland-wide rent index. Rents have also risen in Central Switzerland (0.6 percent) and in Eastern Switzerland (0.4 percent). Virtually no changes can be observed in northwestern Switzerland (0.2 percent) and in the Lake Geneva region (0.0 percent), while rents in Ticino have fallen (−0.4 percent).

    More expensive condominiums, stable house prices
    Those who want to buy a condominium were faced with 0.6 percent higher prices in November than in the previous month. This means that the national average price per square meter is currently around 8030 francs. For a typical apartment with 110 m² of living space, 880,000 francs are required. The asking prices for single-family houses (0.1 percent) hardly changed in November, which corresponds to a square meter price of around 7130 francs. A typical house with 160 m² of living space is advertised for 1,140,000 francs.

    «The new corona wave should temporarily support the trend of rising property prices, since in the fragile economic environment hardly any rate hikes on the part of the central banks are to be expected. The duration of this policy, however, depends heavily on the further development of consumer prices, which have recently risen significantly, ”says Martin Waeber, Managing Director Real Estate, Swiss Marketplace Group.

  • ImmoScout24 reports record price for condominiums

    ImmoScout24 reports record price for condominiums

    The prices for condominiums in Switzerland rose by 1.8 percent in August compared to the previous month. The prices for single-family houses have risen by only 0.1 percent. This is shown by the current Swiss Real Estate Offer Index , which is collected by ImmoScout24 in cooperation with the real estate consultancy IAZI AG.

    The market for condominiums is becoming more and more expensive , according to the press release. At the end of August, 7916 francs were charged per square meter, 1.8 percent more than a month earlier. A typical apartment with 100 square meters is advertised for an average of around 790,000 francs in Switzerland. That is a new record.

    The prices for single-family houses rose by only 0.1 percent in August, but according to ImmoScout24 they are “at a dizzying height”. The square meter price is 7048 francs. For a typical Swiss single-family home with around 160 square meters of living space, the average asking price is over 1.1 million francs. The prices can be significantly higher in better locations.

    The supply is scarce, the market has dried up. Martin Waeber, COO of Scout24 is quoted as saying that sellers were waiting in view of the rising prices. “Only a strong increase in construction activity or a decline in demand, for example due to rising mortgage interest rates, could reduce the price pressure on the residential property market,” Waeber continued. However, neither is currently foreseeable.

    According to the index, asking prices for rental apartments fell by an average of 0.5 percent in August, with significant regional differences.

  • Housing is becoming more expensive

    Housing is becoming more expensive

    "Renting and buying in Switzerland is getting more expensive", is how ImmoScout24 wrote a message on the current Swiss Real Estate Offer Index . It is prepared monthly by ImmoScout24 and the real estate consultancy IAZI AG . According to the surveys, the prices for rents and residential real estate rose on average across Switzerland in the first half of 2021.

    The prices for residential property have only risen for months, explains ImmoScout24 in the message. Since the beginning of the year, prices for single-family houses have risen by a total of 3.8 percent, with a price increase of 1.4 percent compared to May being observed in June alone. The corresponding values for condominiums were 4.7 and 1.0 percent, respectively.

    The index analysts have observed an ups and downs in rents over the past few months. There was an increase of 0.7 percent over the first half of the year. In June, an average increase of 0.6 percent compared to May was registered.

    Renting has not become more expensive everywhere, it says in the message. Specifically, monthly rents dropped between 3.0 and 0.1 percent in Ticino, the Central Plateau, the Lake Geneva region and northwestern Switzerland.

    Martin Waeber is quoted in the press release as saying that "the record price increase in the residential property market" has contributed to the fact that many people did not even ask themselves whether to rent or buy. “If you don't necessarily want to rent in the center”, you can “still get a bargain in some regions”, says the Scout24 Group's CFO.

    The Scout24 group belongs to the insurance group Mobiliar and the media group Ringier . In addition to the real estate platform ImmoScout24, the network of online marketplaces operates the platforms AutoScout24, FinanceScout24, MotoScout24, the classified ads platform Anibis and the marketer Scout24 Advertising.

  • Rental prices drop slightly in March

    Rental prices drop slightly in March

    The prices for rents fell in March compared to the previous month by 0.4 percent. This short-term development is only reflected in the national averages. In the most expensive and densely populated regions, rents rose in March, according to the latest data from the Swiss Real Estate Offer Index. In the long term, too, prices have increased on average.

    Tenants in the Lake Geneva region had to pay 0.2 percent more in March, and even 0.9 percent in the greater Zurich region. According to a press release, rents in north-western Switzerland also rose by 0.3 percent, in eastern Switzerland by 0.2 percent and in Ticino by 1.9 percent. In Central Switzerland, on the other hand, rents fell by 1.2 percent. Over the year as a whole, rental prices rose by an average of 0.6 percent for the country.

    In the case of home ownership, prices have also developed differently, depending on the type of residence. While those interested in condominiums benefited from an average of 0.4 percent lower prices in March, buyers of single-family homes had to add 1 percent.

    In the past twelve months, home prices even rose by a record 7.2 percent. While the square meter cost 6398 francs in March 2020, it was 6857 francs in March of this year.

    In the case of condominiums, the plus of 3 percent was somewhat more moderate. Here, the price per square meter rose from 7,366 francs in March 2020 to 7,587 francs in March 2021.

    The data of the Swiss Real Estate Offer Index is created in real time on the basis of advertisements on the real estate platform ImmoScout24 and in cooperation with the real estate consultancy IAZI AG .