The health crisis has had a considerable impact on the Swiss real estate market. Needs turned to properties close to nature. There has also been a real craze for second homes. Geneva is no exception to this rule. But how is the local market faring in 2022?
Geneva real estate market: what are the trends in 2022?
As elsewhere in Switzerland, in the wake of the economic crisis, the people of Geneva have also responded to the call of nature. More and more buyers are opting for homes with gardens, even if this means moving away from the city center. As telecommuting has become the norm, buyers are also looking for properties with an extra room so they can work from home.
How much doesm2 cost in Geneva?
Currently, the average price perm2 for an apartment in Geneva is CHF 15,545, compared with CHF 14,674 for a house.
The most expensive properties are those on the shores of Lake Geneva, in Cologny, one of the city’s most exclusive districts. Most of these are prestige properties. Prices are also high in the Eaux-Vives and Champel districts. To find more affordable accommodation, you’ll need to search in the Servette or Pâquis areas, or in the Geneva countryside.
Regardless of where you choose to buy real estate, Geneva and the surrounding area remains an expensive place to live. Declining supply is further driving up prices in the area.
However, you may be able to find a property within your budget by using a Geneva real estate agency. Between the most sought-after localities and less sought-after sites, price variations of up to double can be observed. Local connoisseurs will be able to show you different properties in different locations.
What about office real estate in Geneva?
Geneva’s office real estate market remains buoyant in 2022. This favors high rents. Properties located close to railway stations and the city center are the main focus of demand. New premises are also highly sought-after. The vacancy rate in this sector remains low.
Real estate supply in Geneva: an upward trend?
The real estate market in Geneva is undergoing significant change. At the start of the new school year, the number of properties in the city jumped by 44%.
A stronger recovery is thus expected over the coming months. With demand stagnating at the same time, the Geneva real estate market could stabilize.
In Geneva, the housing shortage is greater than elsewhere in Switzerland. However, a number of new housing developments are planned up to 2030 to fill the gap.
Is it still worthwhile to become a homeowner in Geneva?
Although supply is currently scarce in the real estate sector, Geneva remains an attractive city in which to buy property.
In addition to its high quality of life, Geneva also offers its residents an idyllic setting, a blend of nature and luxury. Living in Geneva means having access to Lake Geneva in just a few minutes, and being surrounded by prestigious hotels… The city remains popular with foreigners, tourists and vacationers thanks to its proximity to renowned ski resorts.
With its modern infrastructure, good public transport links and numerous leisure activities, Geneva is a pleasant city to live in.
Investing in Geneva: use a local agency
Whatever your real estate project, the services of a Geneva real estate agency are essential. Are you looking to buy a new house or apartment? Renting business premises? To find the ideal property, you need an agent who knows the area you’re interested in inside out.
A real estate agency like Nessell is fully involved in your project. Whether you’re buying or selling real estate, these professionals adapt to your requirements to provide you with an exclusive service. The agency also offers other services such as property valuations and rental management.
Are you looking to buy or sell a prestige property in Geneva? The support of an agency specialized in this type of transaction is essential. With our in-depth knowledge of the Geneva luxury real estate market, Nessell guarantees your complete satisfaction.
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