Next in line are Gstaad and Verbier. This is according to a ranking published by UBS bank, which noted a slowdown in price growth for the second year in a row in 2024.
The annual increase halved to an average of 1.2%. The growth was mainly driven by apartment buildings, whose prices rose by an average of 3%, while those of single-family homes remained virtually unchanged.
According to the authors of the study, the reasons for the slowdown are not demand, which will be supported in 2024 by the sharp fall in interest rates and the performance of the stock markets, but rather exaggerated price increases in previous years.
Current Swiss luxury home prices are 27% higher than in 2019. The largest price increase in the years under review was in the Zug region (+40%). Around Lake Zurich, they were between 30% and 40% hikes. On the banks of Lake Geneva and in Ticino, the increase was less than 20%.
The price per square metre of a luxury flat in Gstaad started from CHF39,000 in 2024, and in Verbier from around CHF36,000. Depending on the location and characteristics of the property, the price could rise to as much as CHF50,000, or even CHF100,000 in rare cases.
Outside the mountain regions, the most expensive properties were in Cologny, with almost CHF36,000 per square metre. On the shores of Lake Zurich, the highest prices were found in Küsnacht, with around CHF32,000 per square metre.
In Ticino, the most expensive municipalities were Ronco sopra Ascona, Collina d’Oro and Morcote.
Translated from Italian by DeepL/mga
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