The changing real estate market – outlook for owner-occupied homes

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The latest market data and expert analyses show that the owner-occupied housing market in Switzerland is still in a state of flux. With the lowest level of demand for single-family homes for years and a growing supply, there is a noticeable cooling of the market. Sellers and owners must adapt to a new market dynamic that is characterized by the changed economic conditions.

Changing supply and demand

To date, the market for owner-occupied homes has shown an upward trend with price increases in many regions. However, this dynamic is decreasing. Analysts are forecasting a decline for 2024, which has already begun. The downward trend in price levels is expected to continue in the coming quarters. Demand, as measured by the number of active search subscriptions for home purchases, is currently at its lowest level since the introduction of negative interest rates in 2015. At the same time, the supply of homes for sale on the market is increasing. These changes are a harbinger of the expected stagnation, and it is likely that the price trend will weaken further in the coming quarters.

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Shift in demand – slowdown in expensive locations

Demand for owner-occupied homes is falling, particularly in expensive regions such as Zurich and Lake Geneva, where price increases have already stabilized at a moderate level. However, the real estate market in the mountains remains buoyant, driven by strong domestic demand, which has led to above-average price increases for first homes. These observations could be due to a delayed reaction to the boom in second homes, as old apartments are now gaining more value due to their conversion possibilities into second homes.

Mortgage interest rates and the economy as influencing factors

Forecasts for the Swiss home ownership market are closely linked to mortgage interest rates and economic developments. In view of the expectation that mortgage interest rates will remain above 2.5 percent until at least summer 2024, this could dampen demand for owner-occupied homes if the economic situation weakens at the same time. After almost 25 years of growth, the market could experience a correction next year. The tense situation combined with rising interest rates and a hesitant economy points to stagnating or declining price trends.

Outlook for the owner-occupied housing market

The overall situation points to a continuing change in the market: a higher supply of owner-occupied homes, coupled with a decline in search activity, heralds a phase of reorientation. Developments in the real estate market demand adaptability and foresight. It is essential for owners to adapt to changing conditions and make informed decisions. The market continues to offer opportunities, but it requires a new strategy and a deeper understanding of its mechanisms.

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All data are without guarantee. The information on these Internet pages has been carefully researched. Nevertheless, no liability can be assumed for the accuracy of the information provided.

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