The Raiffeisen Transaction Price Index is published quarterly at the beginning of each new quarter. It measures the price development of owner-occupied residential property in China based on Raiffeisen and Swiss Real Estate Datapool (SRED) transaction data. According to Raiffeisen, the Raiffeisen analysis of the data for the second quarter shows the following summarised result: prices for single-family homes rose by 1.3 per cent in the second quarter of 2024, while prices for condominiums rose by 0.5 per cent.
The strongest price increases within a year were recorded for single-family homes in the city centres and in tourist regions. Prices for condominiums have risen the most in the Zurich region over the past four quarters. Compared to the second quarter of 2023, single-family homes now cost 3.8 per cent more and condominiums 2.4 per cent more. “The price trend on the owner-occupied property market is thus continuing to weaken, even as interest rates are coming down from their peak. As interest rates are still higher than during the low-interest phase, price momentum is not expected to pick up again soon,” explains Fredy Hasenmaile, Chief Economist at Raiffeisen Switzerland.
Single-family homes slightly cheaper in western Switzerland
According to Raiffeisen, single-family homes in southern Switzerland (+11.1%) and eastern Switzerland (+9.9%) recorded the strongest price increases compared to the previous year. In contrast, house prices fell slightly in western Switzerland (-1.8%) and Zurich (-1.5%). Prices for condominiums rose the most year-on-year in Zurich (+6.3%) and Northwestern Switzerland (+2.9%). In southern Switzerland (+1.8%) and Lake Geneva (+1.2%), however, prices for condominiums rose only moderately compared to the previous year.
Prices for condominiums in city centres fall slightly
A breakdown of the price trend by type of municipality shows that house prices in the centre municipalities have risen the most within a year at 5.1%. In rural municipalities, house prices fell slightly by 0.7 per cent. In the condominium segment, urban municipalities recorded the strongest price increases (+3.8%). In contrast, condominiums in city centres are now slightly cheaper than a year ago, with prices falling by 1.1%.
