Market players are focusing on the housing shortage, construction activity and the financial sector
The times of high growth rates in recent years appear to be over, as buyers are showing a certain restraint due to the general uncertainty that has arisen. The interest rate hikes necessitated by higher inflation have also weakened demand. Only slight increases in home prices are expected in 2024, and even decreases in some areas. However, the number of real estate transactions is likely to rise again slightly, as we expect shorter purchase decision periods again.
GDP growth in Switzerland was still around 1.4 % in the first quarter of 2023, but fell to 0.6 % in the second quarter. The specialists at Wüest Partner expect GDP to increase by around 1.3 % in 2024. The unemployment rate will remain at a low 2.3 %. Tourism in particular will continue to boost employment through a real boom.
