According to Raiffeisen Switzerland, prices for single-family homes fell by 0.1 per cent in the fourth quarter of 2024; however, condominiums cost 1.4 per cent more than in the previous quarter. The strongest price increases within a year were recorded for single-family homes in the centres and in urban regions; prices for condominiums rose the most in central Switzerland over the past four quarters.
Watch the video here to see how Fredy Hasenmaile, Chief Economist at Raiffeisen Switzerland and Head of Economic Research at the bank, interprets the facts and figures from the latest study:
Prices for owner-occupied residential property continued to rise overall in the fourth quarter of 2024. Although single-family homes recorded a small decrease of 0.1 per cent compared to the previous quarter, condominiums have become significantly more expensive with an increase of 1.4 per cent. Compared to the fourth quarter of 2023, single-family homes now cost 4.2 per cent more and condominiums 2.4 per cent more. ‘This means that the increased attractiveness of owner-occupied residential property was also reflected in price dynamics at the end of the year. Thanks to significantly lower financing costs and very good prospects for further falls in interest rates, demand is likely to increase further at the start of the new year and thus accelerate the price trend once again,’ explains Fredy Hasenmaile, Chief Economist at Raiffeisen Switzerland.
Single-family homes in southern and central Switzerland particularly in demand
In a year-on-year comparison, single-family homes in southern Switzerland (+7.7%) and central Switzerland (+6.3%) recorded the strongest price increases. In contrast, house prices rose only slightly in western Switzerland (+0.7%) and around Lake Geneva (+1.0%). Prices for condominiums also rose the most year-on-year in Central Switzerland (+4.4%) and Eastern Switzerland (+3.5%). By contrast, prices for condominiums in Lake Geneva (+1.1%) and western Switzerland (+2.4%) rose only moderately compared to the previous year.
Condominiums are becoming more expensive, especially in tourist communities
A breakdown of price trends by type of municipality shows that house prices in city centres have risen the most in one year, by 4.4 per cent. In rural communities, on the other hand, they have only risen slightly by 1.2 per cent. In the owner-occupied flat segment, tourist communities recorded the strongest price increases (+3.8 per cent). In contrast, prices for condominiums in city centres rose only slightly within a year, by 0.7%.
You can download the complete study for the fourth quarter as a PDF here.
About the Raiffeisen Transaction Price Index
The Raiffeisen Transaction Price Index is published quarterly at the beginning of each new quarter. Based on change of ownership data from Raiffeisen and the Swiss Real Estate Datapool (SRED), it measures the price development of owner-occupied property.Wohneigentum in der Schweiz.
