Swiss property market: Price highs reached in many places

The most expensive location in Switzerland is the luxurious ski resort of Gstaad in the Bernese Oberland. Prices for detached homes and mansions here range from 3 million Swiss francs (approx. 2.5 million euros) in average locations through to 50 million Swiss francs (approx. 40.9 million euros) for highly exclusive chalets with top-quality fittings in prime positions. For freehold apartments, prices per square metre of between 8,000 Swiss francs (approx. 6,547 euros) and 50,000 Swiss francs (approx. 40,921 euros) are being reached. 50 million Swiss francs are also being paid by buyers on occasion for exceptional properties in Geneva. The prices per square metre of freehold apartments range there from 9,000 Swiss francs (approx. 7,365 euros) in average locations through to 20,000 Swiss francs (approx. 16,368 euros) in very good locations. This is the result of the Market Report Switzerland published by Engel & Völkers.

Goldhaldenstrasse 25, Zollikon

High-class houses with a view of the lake are among the most exclusive properties along the Zurich’s Gold Coast.

“Whilst we are anticipating further price rises for some locations, other submarkets are seeing a levelling out of prices having reached their highest mark. Search clients are paying very close attention to offers and are no longer willing to accept any price demands,” said Jörg Schmittschneider, Managing Director of Engel & Völkers Switzerland. On Zurich’s Gold Coast, purchase prices for mansions and detached homes in average locations currently lie between 2.2 and 3.5 million Swiss francs (approx. 1.8 – 2.9 million euros). In prime locations, properties in this segment rarely change hands for anything under 5 million Swiss francs (approx. 4.1 million euros). In the case of freehold apartments, buyers are paying between 11,000 Swiss francs (approx. 9,000 euros) in average locations per square metre and as much as 20,000 Swiss francs (approx. 16,368 euros) in the very best locations.

Holiday homes in mountains and Mediterranean-like south of Switzerland in demand

There is a high level of demand for freehold apartments and houses in the desirable winter sports resorts of Davos and Klosters. Between 4.5 and 20 million Swiss francs (approx. 3.7 to 16.4 million euros) are being paid for villas and mansions in the very best locations. In good locations, prices for detached properties start at 1.8 million Swiss francs (approx. 1.5 million euros), and at 1 million Swiss francs (approx. 818,438 euros) in average locations.

The towns of Ascona and Lugano in southern Switzerland are highly sought after both as places of residence and holiday destinations, due to their mild climate and the Mediterranean-like charm. Prices for mansions and detached properties in Ascona lie between 1 million Swiss francs (approx. 818,438 euros) in average locations and 22 million Swiss francs (approx. 18 million euros) in prime locations. The prices per square metre for freehold apartments are as much as 25,000 Swiss francs (approx. 20,460 euros).

“The number of sales is still stable in spite of a continuation in the price high. One reason for this is the high level of demand for property in Switzerland, which continues unabated,” said Jörg Schmittschneider. Engel & Völkers has seen the sharpest rise in prices over recent years in the west of Switzerland. A stabilisation of residential property prices can now be expected however, especially in towns and cities, and suburban areas.

Posted in Residential.