The SWX Swiss Exchange and the Information and Education Centre for Real Estate AG (IAZI) have signed a letter of intent that lays the cornerstone for a cooperative venture to develop a real estate index.
In a statement released last week, the SWX said that the collaboration would make a significant contribution towards enhanced transparency in the trading and financing of real estate.
In a joint effort, SWX and IAZI will be marketing Swiss indices on single-family homes, freehold flats and multifamily housing. The indices have been developed by IAZI and will be calculated on a continual basis. As a result, indices compiled by a fully independent firm and based on actual real estate transactions will be available in Europe for the first time. The SWX said that moreover, these unbiased indices will provide a credible foundation for derivative financial instruments.
IAZI will bear responsibility for compilation of the indices, while their publication and distribution will be in the hands of SWX, with marketing conducted on a co-branding basis. Publication of the indices was due to commence on 18 April 2007 and encompass the following five indicators:
The Information and Education Centre for Real Estate (Informations- und Ausbildungszentrum für Immobilien/IAZI AG) was founded in 1994 with the goal of enhancing transparency in the real estate market. In collaboration with banks, insurance companies, pension funds and institutional investors, IAZI analyses real estate market information to generate market-consistent price and performance indices on real estate and to enable comparable-sale valuation of properties and real estate portfolios.
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