In the fourth quarter of 2021, residential property prices in Switzerland continued to rise sharply. This was announced by the Federal Statistical Office on Tuesday.
the essentials in brief
- In the fourth quarter of 2021, home ownership prices also rose sharply.
- The price increase compared to the previous quarter is 7.3 percent.
- This was announced by the Federal Statistical Office (BFS) on Tuesday.
The prices for residential property in Switzerland rose significantly in the past quarter and accordingly also in the whole of 2021. The Swiss Residential Property Price Index (IMPI) increased by 2.6 percent to 110.7 points compared to the previous quarter.
Compared to the corresponding quarter of the previous year, the price increase is 7.3 percent, as the Federal Statistical Office (BFS) announced on Tuesday.
Across Switzerland, prices for single-family homes (+2.7%) and for condominiums (+2.6%) clearly increased compared to the previous quarter. Compared to the previous year, the two categories were 8.0 and 6.7 percent more expensive.
According to the data, the increase in single-family house prices was particularly pronounced in the urban communities of a medium-sized agglomeration (+6.2%). In the case of condominiums, on the other hand, prices rose the most in rural communities (+4.8%).
According to the index, an average annual rate of inflation of 5.7 percent for home ownership is calculated for 2021 as a whole. Single-family home prices rose an average of 6.0 percent and condominium prices rose 5.5 percent.
New index of the Federal Statistical Office
The IMPI is a relatively new indicator: it has only been published quarterly since the third quarter of 2020. According to the BFS, it is calculated from an average of around 7,000 transactions from all regions of Switzerland. The FSO obtains data from the 26 largest mortgage institutions in Switzerland. These cover a very large market share, as the vast majority of property purchases are financed with a mortgage, they say.
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