Ownership of homes, 2022 also starts with rising prices
ZURICH (awp / ats) - 2022 is off to a positive start for homeowners in Switzerland: real estate values have risen again.
During the month of January, the cost of an apartment rose by an average of 0.6%, while single-family homes saw the price rise by 0.3%, according to a press release today ImmoScout24, a company in the sector which, together with IAZI consulting firm, calculates the Swiss Real Estate Offer Index on the basis of real estate advertisements. In the annual comparison the progression is respectively 7.2% and 6.9%. Regional disaggregated data were not disclosed.
"The new year begins the way the old one ended," comment the ImmoScout24 experts. Even if the US Federal Reserve were to raise interest rates in 2022, as announced, a major impact on the Swiss real estate market is deemed unlikely: neither the European Central Bank (ECB) nor the Swiss National Bank (SNB) currently have announced plans to exit the era of cheap money.
Furthermore, even if a monetary squeeze should arrive in Switzerland, there is a reserve: according to the financing rules in use, home buyers must in fact also be able to bear an interest rate of 4-5%, which is difficult to imagine today. "Home ownership therefore remains very attractive," concludes specialist Martin Waeber, quoted in the statement.