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Economics

SNB Says Swiss Housing Market Is Showing Signs of Cooling

Stretched affordability is being exacerbated by rising interest rates.

Stretched affordability is being exacerbated by rising interest rates.

Photographer: Stefan Wermuth/Bloomberg

The Swiss National Bank said there are signs the country’s property market is cooling after years of growth, but noted there are still risks of a sharper correction.

“Mortgage growth has remained largely stable in recent months, whereas there are signs of a slowdown in residential real estate prices,” it said Thursday. “The vulnerabilities on the mortgage and real estate markets persist.”