Home prices rise in second quarter
The residential property price index increases by 1.2% from April to June 2023 compared to the previous quarter.
Single-family home prices are rising the most in urban communities.
Bild: Christian Beutler/Keystone
After falling in the first quarter, home ownership prices in Switzerland rose again in the second. Both single-family houses and condominiums had to dig deeper into their pockets again.
The Swiss Residential Property Price Index (IMPI) rose by 1.2% to 115.9 points in the period from April to June 2023 compared to the previous quarter, as reported by the Federal Statistical Office (FSO) on Monday. Compared to the corresponding quarter of the previous year, there was even a price increase of 2.4%.
Both the price development for condominiums (+1.6%) and single-family houses (+0.7%) contributed to the increase in the overall index compared to the previous quarter.
According to the BFS, prices for single-family homes rose most sharply in urban communities in a small agglomeration or outside of an agglomeration. In contrast, prices remained stable in urban communities in large agglomerations and in intermediate communities.
Condominiums rose in price in all types of municipality, but most strongly in urban municipalities in medium-sized agglomerations.
The IMPI 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 25 largest mortgage institutions in Switzerland. These cover a very large market share, since the vast majority of property purchases are financed with a mortgage.
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2023-08-07 08:53:44
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