Swiss residential property prices continued their upward trend in Q3, rising 1.7% year-over-year and 0.5% since mid-year, fueled by declining mortgage rates and anticipated cuts from the Swiss National Bank. Condominiums saw a price increase of 0.7%, outpacing single-family homes at 0.3%. Notably, medium-sized urban municipalities experienced the most significant growth, while rural areas faced declines. By the end of September, the Swiss Residential Property Price Index reached 118.2 points, with a baseline of 100 set in Q4 2019.
authorities review competitive impact of UBS merger as shares rise
Authorities, including the Swiss National Bank and the Competition Commission, convened to discuss the competitive implications of UBS's merger with Credit Suisse, addressing public complaints and market observations. Despite concerns over UBS's dominant market position, FINMA waived competition law requirements for the merger. Following the discussions, UBS shares rose by 0.77% to 28.19 Swiss francs.
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