On May 12th 2020, Niki Thomet, Managing Partner Engel & Völkers Lake Zürich Region Zimmerberg facilitated on the topic of “Crisis & Opportunities for the Real Estate Market” with around 700 registrations.
Together with his colleagues of the participating offices, he highlighted the developments and prospects in the various submarkets of the residential and commercial real estate market around the lake of Zürich and Zug.
After seven weeks of lockdown, Engel & Völkers did not identify any significant price changes around Lake Zurich and Lake Zug. On the demand side, there is certainly some reluctance, and on the supply side there is uncertainty in regards timing for a planned sale. In the luxury segment, one speaks of possible price reductions of 5-10%, which ultimately depends very much on the location and the property itself. Emergency sales and panic among owners have not been identified and it will probably not be promising for clients to speculate on potential bargains. In the seller's market, demand is significantly greater than the supply, so our customers have been able to use a wide range of digital viewing and evaluation options at Engel & Völkers in the past few weeks, which has led to gratifying deals.
The webinar speakers continue to see good opportunities in the consistently attractive Swiss real estate market, which has proven to be resilient in the current crisis, particularly with regard to home ownership. The gradual loosening of the covid 19 measures, is motivating the personal real estate plans of our customers.
If you were unable to attend the webinar or if you would like to watch the recording again, you will find the recording of the “E&V Live!” Webinars on "Crisis & Opportunities for the Real Estate Market" by clicking on the link below.