Orama Estates LLC look on price tendencies of Swiss realty.
Orama Estates LLC: Quick review of the real estate market of Switzerland which remains one of the most expensive countries in Europe. How fair is the pricetag?
Switzerland is widely recognized as one of the most expensive countries in Europe, as evidenced by the high real estate prices, which can start at a quarter of a million euros per unit.
Remarkably, the ongoing pandemic has had little to no impact on apartment and house prices in Switzerland, as they have been steadily and consistently increasing at an annual rate of 1-3% on average. In fact, apartment prices in Switzerland have risen by nearly 60% over the past 15 years!
The cost per square meter varies significantly depending on the region and city district. For instance, apartments in the historic center command significantly higher prices than those in adjacent areas, justified by the top-quality maintenance of the city's communications and infrastructure, including its old buildings that are diligently tended to on a seasonal basis. A three-hundred-year-old building can provide the same quality of life as its modern counterpart. If we consider mountain resorts, the prices per square meter skyrocket to five times or more compared to prices in the neighboring village.
The cheapest apartments in Switzerland can be found in small, eco-friendly resorts in the countryside. Switzerland, which boasts the best ecology statistics and implements the most advanced eco-technologies to preserve its natural beauty, holds the title of the cleanest country in the world. A small apartment with 1-2 bedrooms will cost between 240-280 thousand euros, and on average, one square meter in the countryside costs between 4 and 10 thousand euros.
Geneva is the most expensive city in terms of real estate, with one square meter fetching approximately 14 thousand euros. Other Swiss cities, such as Zurich, and famous resorts like St. Moritz and Zermatt, command slightly lower, yet still impressive prices of 10-11 thousand euros. These prices are the highest among all European countries, even surpassing those of London. A single square meter of luxury housing in Switzerland can reach as high as 25-45 thousand euros!
Switzerland's target audience for real estate is comprised of affluent individuals, celebrities, and the like, as the average cost of a single unit can easily surpass the million-euro mark. However, considering the world's best banking, ecology, and the serenity of the Alps, this price tag may not be unreasonable.
95 Christopher Columbus Drive, 16th Floor, Suite 400,
Jersey City, NJ 07302