Downbeat economic forecasts are working their way into Switzerland's property market, where a mortgage broker says risks are rising.
The risks in Switzerland's real estate market are rising, according to a study (in German) released by mortgage broker Moneypark on Monday. A real estate index compiled by the company, owned by Swiss insurer Helvetia, implies a middling risk which is grounds for caution, it said.
Specifically, potential property buyers halted their plans in April as the coronavirus pandemic spread, the study found. However, the index's rise doesn't reflect a panicked market, Moneypark said.
Prices for owner-occupied residential property edged 0.43 percent lower. As long as forecasts for the crisis sparked by the pandemic are unclear, real estate transactions are set to stay at depressed levels, Moneypark said.
