Parts of switzerland reach peak property prices

Parts of Switzerland have seen property prices reach record peaks, according to Engel & Völkers.

The agent's latest report reveals that prices in parts of the country are at peak highs as values stabilise across the market.

The prime resort of Gstaad in the Bernese Oberland is te most expensive location in the country, with prices for detached homes reaching as high as 50 million Swiss francs, a sum that is also paid "on occasion for exceptional properties" in Geneva.

“The number of sales is still stable in spite of a continuation in the price high. One reason for this is the high level of demand for property in Switzerland, which continues unabated,” said Jörg Schmittschneider.

Engel & Völkers has seen the sharpest rise in prices over recent years in the west of Switzerland.

"A stabilisation of residential property prices can now be expected however, especially in towns and cities, and suburban areas," adds Schmittschneider.