Switzerland’s housing market remains expensive, with property prices increasing by an average of 1.7% in 2024, according to data from the Federal Statistical Office (FSO).

The Residential Property Price Index (IMPI), which tracks real estate values, showed that single-family homes saw a 1.1% price rise, while owner-occupied apartments experienced a steeper 2.3% increase.

In the fourth quarter of 2024, the IMPI reached 120.2 points, reflecting a 1.8% rise compared to the previous quarter and a 2.4% increase year-on-year. The data revealed that house prices climbed 0.5% from the third quarter and 1.4% over the year, while apartment prices surged 2.9% quarterly and 3.2% annually.

FSO analysts noted that property prices in both segments have increased compared to the previous quarter. The IMPI, a relatively new index, has been tracking market trends since the third quarter of 2020, with data reaching back to mid-2019. It is based on an average of 7,000 property transactions across Switzerland.

The price calculations rely on data from the country’s 28 largest mortgage lenders, which account for a significant portion of real estate financing, as most property purchases in Switzerland are mortgage-backed.

With property values continuing their upward trend, homeownership remains an increasingly costly endeavor in Switzerland.