Credit Suisse expects boom to end

Zurich The real estate experts at Credit Suisse expect prices for residential property in Switzerland to fall in the coming year. Fredy Hasenmaile, chief analyst for real estate markets at Credit Suisse, expects the price increase for single-family houses and condominiums to slow down significantly this year.

For condominiums, he expects an increase of 0.5 percent in 2023. Detached houses could become more expensive by 1.5 percent. For comparison: in 2022 both types of real estate had become more expensive by more than five percent, in 2021 it was even between 6.7 and 8.3 percent. Price growth has weakened primarily due to lower demand from private real estate investors. “Concrete gold is losing its shine,” says Hasenmaile.