BKB home index continues to climb
The trend of rising real estate prices has continued in northwestern Switzerland. The BKB home price index rose by 2.4 percent in the first half of 2017.
The increase was well above the national average (+1.5 %). Compared with the second half of 2016 (+3.8 %), however, price growth for residential property in northwestern Switzerland has thus weakened somewhat, according to Basler Kantonalbank (BKB). Overall, however, growth rates are still above the long-term average, with single-family homes (+2.3 %) and condominiums (+2.5 %) contributing almost equally to price increases in the first half of 2017.
In the canton of Basel-Stadt, the BKB price index for owner-occupied homes has more than doubled since 1998 (+112 %). Last year alone, it rose by 5.9 percent. In the canton of Basel-Landschaft, prices for owner-occupied homes have risen by 6.9 percent in the last twelve months and, with an increase of 82.4 percent, are now outstripping long-term growth in Switzerland (+80.3 %).
The BKB home index is collected semi-annually by Basler Kantonalbank in cooperation with IAZI AG on the basis of effectively achieved sales prices ("hedonic method").
