Up to 6.3%.
Living within your own walls again is more expensive
In the third quarter, residential property prices continued to rise in Switzerland. In the period from July to September 2022, the Swiss residential property price index (IMPI) increased by 1.2% compared to the previous quarter to 114.6 points.
Home ownership will also become more expensive in the third quarter. (icon image)
Compared to the corresponding quarter of the previous year, the price increase amounts to 6.3%, the Federal Statistical Office (FSO) announced on Tuesday. Both the price trend of condominiums (+1.1%) and single-family houses (+1.4%) contributed to the increase in the overall index compared to the previous quarter.
Home prices increased in the third quarter
Single-family houses showed higher prices in all municipality types than in the second quarter of 2022. The strongest price increase occurred in the urban municipality category of a medium-sized agglomeration (+4.3%). For condominiums, prices increased more in intermediate municipalities (+3.3%). On the other hand, prices in rural communities decreased the most (-1.9%).
The IMPI is a relatively new indicator: it has only been published quarterly since the third quarter of 2020. According to the FSO, it is calculated from an average of around 7000 transactions from all regions of Switzerland. The FSO receives data from the 25 largest mortgage institutions in Switzerland. These cover a very large share of the market, as the vast majority of real estate purchases are financed with a mortgage, it says.
(SDA)
