New data from ImmoScout24 has shown that the cost of buying a house in Switzerland continues to rise, while the price of renting a house or apartment fell slightly. The Swiss Real Estate Offer Index recorded price rises of up to 0,5 percent in March 2022 alone, with the overall cost of a house increasing by 6,6 percent compared to 12 months ago.

Swiss house prices up 6,6 percent compared to last year

The price per square metre of housing in Switzerland increased to 7.277 Swiss francs for houses in March 2022, while prices for apartments rose to 9.192 Swiss francs per square metre. This corresponds to a 0,5 to 0,4 percent increase in price compared with February 2022.

Compared with 12 months ago, the price of all types of housing has increased by 6,6 percent. According to ImmoScout24, the end of COVID restrictions have caused prices to rise further than expected.

Rental costs fall slightly in Switzerland

While house prices increased, the report found that the cost of renting has experienced a slight downward trend across the county, with the average price listed on rental contracts falling by 0,6 percent in central Switzerland, 0,3 percent around Zurich and 0,2 percent in the northwest near Basel. The cost of renting in Geneva and in the eastern cities of Sargans and St. Gallen remained relatively unchanged.

While ImmoScout24 confirmed that the war in Ukraine was not having any “direct effect” on house prices, they did note that it would likely have a knock-on effect on the price of energy and other utilities. In the future, they predicted that the continuing strain placed on global energy markets will possibly lead to a “significant increase in charges.”