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Bloomberg
Prices for Swiss single family homes fell for the first time since before the pandemic, raising the prospect that a market that has boomed for decades may be turning.
Transaction prices declined 0.18% in the final three months of 2022, data compiled by Zurich-based real-estate consulting firm Wuest Partner show. The last time they fell was in the third quarter of 2019. They’ve risen 5.5% over the past year and more than doubled over the past two decades.
House prices are falling globally as the world emerges from an era of cheap credit. In 2022, property values declined in countries including Canada, Australia and China, and forecasters warn of an impending slump in the UK. The pressure on housing markets is likely to persist as central banks raise interest rates to tackle inflation.
The Swiss National Bank has long been concerned about elevated prices in the country’s property market.