Premium Switzerland property prices remain stable


The past financial year has remained stable for Swiss properties – with some areas even seeing a price surge. According to the latest Engel & Völkers Residential Market Report for Switzerland, prices for homes were unwaveringly high in 2017, particularly in Zurich.

One reason for the excess demand in Zurich over the past year was the attractive interest rate level that incentivised many tenants to look for a property for private ownership.

With an entry price of 5.5 million Swiss francs (€6.5 million) for mansions and a price per square metre starting at 18,000 Swiss francs (€21,200) for freehold apartments, Zürichberg was the highest priced location in the city. Absolute top prices were fetched here for refurbished old properties with unobstructable views.

Sought-after premium locations in the Zurich region also include Küsnacht and Zollikon on the so-called Gold Coast, areas close to the city centre, and municipalities along the left bank of Lake Zurich.

Economic centres in central Switzerland such as Lucerne and Zug also witnessed a high level of demand last year. As a result, the availability of real estate and the vacancy ratio for detached properties in the region was considerably lower here than the Swiss national average.

The entry price in Zug for mansions in the top segment was 4 million Swiss francs (€4.7 million), with prices per square metre for freehold apartments starting at 12,500 Swiss francs (€17,700). The most expensive addresses in the city include the Zugerberg with views of Lake Zug, as well as the Ennetsee municipalities such as Cham and Risch.

Basel also ranks among the most popular places to live and work in Switzerland. The city has seen extremely positive economic development, particularly over the last few years. The local real estate market currently features a large number of high-end new developments and conversion projects.

The most expensive residential areas of Basel include the Neubad-Quartier, the Altstadt Grossbasel and the municipality Riehen. In these prime locations, mansions sold in 2017 for upwards of 2.5 million Swiss francs (€2.9 million) and the price per square metre for freehold apartments began at 10,500 Swiss francs (€12,400).

Holiday resorts, including the renowned ski resort of Gstaad, remain among the highest priced destinations in Switzerland.  In 2017 prices for exclusive mansions and chalets in 2017 started at 16 million Swiss francs (€18.8 million). Prices per square metre for freehold apartments during the same period exceeded 35,000 Swiss francs (€41,200). Due to the second home initiative also known as the ‘Lex Weber’ regulation, the building of new apartments for use as holiday properties is restricted in Gstaad. In future, new developments here will therefore increasingly be focused on the first home market.

St. Moritz and Ticino also benefitted from consistently high property prices – and experts predict the 2018 will see a similar outlook.

“Real estate continues to be a popular investment with buyers due to a lack of other investment opportunities,” says Thomas Frigo, Managing Director of Engel & Völkers Wohnen Schweiz AG. Therefore we expect the stability of Switzerland’s property market to continue over the course of 2018.”

The company forecasts slight price rises both in the segment for detached homes and for freehold apartments – primarily for smaller homes away from the very best locations. The highest price rises in the freehold apartment segment are anticipated in central Switzerland, at approx. 1.5%.

Mr Frigo adds: “In absolutely prime locations, we are very confident that top prices will continue to be reached in future for prestigious properties.”

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