Engel & Völkers

Real estate price trends for residential real estate in Switzerland and Liechtenstein in 2024

We are delighted to share our unique knowledge of the local markets with you again this year. In our residential real estate market report, we inform you about the current situation in around 50 regional submarkets in Switzerland and Liechtenstein and our respective assessment of demand and price trends for 2024.

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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.

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Outlook: Home prices rising less sharply

  • Real estate market

    The Swiss real estate market will remain stable in 2024, albeit somewhat more moderately, although there will be cantonal and regional differences. The second-home market, on the other hand, will continue to record strong excess demand, which has already become more pronounced in recent years.

  • Interest rate trends

    It cannot be ruled out that the Swiss National Bank will tighten the interest rate screw again if inflation moves back towards the 2% threshold or higher. However, this does not fundamentally change the fact that Switzerland enjoys high demand for residential property and therefore also as a place to live, particularly in times of uncertainty.

  • Price trends

    Compared to other countries, Switzerland still has a relatively low home ownership rate, and this will not change in the near future. For 2024, Wüest Partner still expects prices for condominiums to rise by 1.2 % and for single-family homes by 0.3 %. As a result, the price trend appears to be normalizing.

RESIDENTIAL PROPERTIES SWITZERLAND & Liechtenstein 2024

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Further assessments of market and price trends for various major regions and their submarkets in Switzerland and Liechtenstein can be found in our residential real estate market report, which is available to download free of charge. we hope you enjoy reading it! Are you interested in a printed version of the market report? Or would you like specific information on a selected region in Switzerland? Contact our local real estate consultants directly, we will be happy to help you.

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