Up to 6.3 percent
Living in one’s own walls again more expensive
Property prices in Switzerland continued to rise in the third quarter. In the period from July to September 2022, the Swiss Residential Property Price Index (IMPI) increased by 1.2 percent to 114.6 points compared to the previous quarter.
Home ownership will also become more expensive in the third quarter (symbol image)
Compared to the corresponding quarter of the previous year, the increase in prices is up to 6.3 percent, the Federal Statistical Office (BFS) announced on Tuesday. Both the price development of condominiums (+1.1%) and family houses (+1.4%) contributed to the increase of the overall index compared to the previous quarter.
Home prices rose in the third quarter
Single-family homes showed higher prices in all types of municipalities than in the 2nd quarter of 2022. Prices rose most significantly in the category of urban municipalities of medium agglomeration (+4.3%). Prices for condominiums rose the most in medium-sized municipalities (+3.3%). Conversely, prices fell the most in rural municipalities (-1.9%).
The IMPI is a relatively new indicator: since the third quarter of 2020, it has been published only quarterly. According to the BFS, it is calculated on average from around 7,000 transactions from all regions of Switzerland. FSO obtains 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 said to be financed with a mortgage.