Thursday, December 8, 2022

Homeownership prices stopped rising

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Overall, the index fell by 0.4 percent to 110.3 points in the period from January to March 2022 compared to the previous quarter.

Compared to the corresponding quarter of the previous year, the price increase is still a whopping 7.0 percent, as the Federal Statistical Office (BFS) announced on Tuesday.

The reason for the slight decline compared to the previous quarter is the price development for condominiums. These became 1.2 percent cheaper across Switzerland, with a decrease being observed in most of the regions examined.

In the case of single-family homes, on the other hand, the upward trend continued at +0.6 percent, with the development in the various regions ranging from -4.2 to +4.9 percent. Compared to the previous year, both single-family houses (+8.5%) and condominiums (+5.6%) became more expensive.

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 25 largest mortgage institutions in Switzerland. These cover a very large market share, as the vast majority of real estate purchases are financed with a mortgage, it is said.

(SDA)

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