The Swiss real estate market is expected to continue its upward trajectory:
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Price Projections: Forecasts indicate annual increases of 3.4% for condominiums and 3.0% for single-family homes in 2025 .
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Interest Rates: The Swiss National Bank's key interest rate is anticipated to remain low, supporting favorable mortgage conditions .
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Regulatory Changes: Upcoming reforms in construction law and seller liability are expected to enhance buyer protection and project quality, albeit potentially increasing construction costs .
Overall, the combination of strong demand, limited supply, and supportive economic conditions suggests a robust real estate market in Switzerland through 2026.
Switzerland Real Estate Market 2026
The Swiss real estate market in 2026 is projected to maintain its resilience and stability, bolstered by low interest rates, constrained housing supply, and sustained demand. Here's an updated overview:
🏡 Residential Market Trends
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Price Growth: Home prices increased by 3.2% year-over-year in Q1 2025, with projections indicating a 3–4% rise throughout the year. This trend is expected to continue into 2026, particularly in urban centers and tourist regions like Graubünden, where demand remains robust.
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Interest Rates: The Swiss National Bank reduced its key interest rate to 0.25% by March 2025, enhancing the attractiveness of real estate investments and supporting price stability.
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Regional Variations: While major cities like Zurich and Lausanne are experiencing price increases, economically weaker regions may face rising vacancies and potential price declines.
🏙️ Urban Centers
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Zurich: Property prices in the canton are expected to rise by 4.5% in both 2025 and 2026, amounting to an increase of over CHF 140,000 for an average single-family home over two years. Swissinfo
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Lausanne: Prices are projected to grow by 2.5% to 3.2% over the next 12 months, with average prices reaching between CHF 11,375 and CHF 11,460 per square meter by early 2026. The Luxury Playbook
🏢 Commercial Real Estate
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Office Spaces: The market is adapting to hybrid work models, with a focus on prime locations and sustainable buildings.
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Retail Sector: Retail spaces are recovering, driven by improved consumer sentiment and rising retail sales.
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Logistics: The logistics segment is benefiting from structural trends like digitalization and reshoring, leading to increased demand for space.
📈 Investment Outlook
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Transaction Activity: Capital market transactions in Swiss real estate surpassed CHF 4 billion in 2024, with CHF 1.8 billion raised in the first four months of 2025, indicating strong investor interest.
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Risk Assessment: The UBS Swiss Real Estate Bubble Index indicates a moderate risk, with significant imbalances primarily in tourist regions and select urban areas.
In summary, the Swiss real estate market in 2026 is expected to continue its stable growth trajectory, supported by favorable economic conditions and sustained demand.
Property prices for switzerland all cantons and accross each district:
🏘️ Average Property Prices by Canton (CHF/m²)
| Canton | Apartment Price | House Price | Avg. Rent (CHF/m²/year) |
|---|---|---|---|
| Geneva | CHF 13,886 | CHF 14,153 | CHF 428 |
| Zurich | CHF 11,958 | CHF 11,174 | CHF 352 |
| Vaud | CHF 10,164 | CHF 9,554 | CHF 323 |
| Lucerne | CHF 8,647 | CHF 8,526 | CHF 275 |
| Ticino | CHF 8,071 | CHF 6,683 | CHF 254 |
| Aargau | CHF 7,528 | CHF 7,437 | CHF 264 |
| Bern | CHF 7,264 | CHF 6,719 | CHF 247 |
| St. Gallen | CHF 7,202 | CHF 7,265 | CHF 246 |
| Valais | CHF 7,076 | CHF 6,684 | CHF 272 |
Source: RealAdvisor
🏙️ Property Prices by Municipality (CHF/m²)
Zurich Region
| Municipality | Apartment Price | House Price | Avg. Rent (CHF/m²/year) |
|---|---|---|---|
| Zurich | CHF 16,676 | CHF 16,336 | CHF 467 |
| Winterthur | CHF 10,000 | CHF 10,158 | CHF 338 |
Geneva Region
| Municipality | Apartment Price | House Price | Avg. Rent (CHF/m²/year) |
|---|---|---|---|
| Geneva | CHF 15,523 | CHF 15,754 | CHF 472 |
Vaud Region
| Municipality | Apartment Price | House Price | Avg. Rent (CHF/m²/year) |
|---|---|---|---|
| Lausanne | CHF 12,246 | CHF 11,259 | CHF 369 |
| Nyon | CHF 13,278 | CHF 13,579 | CHF 379 |
Ticino Region
| Municipality | Apartment Price | House Price | Avg. Rent (CHF/m²/year) |
|---|---|---|---|
| Lugano | CHF 9,418 | CHF 8,301 | CHF 296 |
| Locarno | CHF 9,089 | CHF 8,439 | CHF 262 |
Bern Region
| Municipality | Apartment Price | House Price | Avg. Rent (CHF/m²/year) |
|---|---|---|---|
| Bern | CHF 9,572 | CHF 9,176 | CHF 314 |
📈 2026 Market Outlook
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Price Growth: Forecasts indicate a continued upward trend in property prices, with expected increases of approximately 3.4% for condominiums and 3.0% for single-family homes in 2025, suggesting similar momentum into 2026.
Regional Variations:
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Strong Growth: Regions like the Bern area (+6.0% for apartments), Southern Switzerland (+5.6%), and the Zurich region (+5.2%) have shown significant year-on-year increases.
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Moderate Growth: The Lake Geneva region and Western Switzerland have experienced steady growth, with increases of +3.0% and +4.6% for apartments, respectively.
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Stabilizing Markets: Some areas, such as the Basel region, have seen more modest growth or slight declines, indicating a stabilization in those markets.
Property prices and rental rates across Switzerland's 26 cantons as of early 2025
🏘️ Switzerland Property Prices by Canton (2025)
| Canton | Apartment Price (CHF/m²) | House Price (CHF/m²) | Avg. Annual Rent (CHF/m²) |
|---|---|---|---|
| Geneva (GE) | 13,886 | 14,153 | 428 |
| Zurich (ZH) | 11,958 | 11,174 | 352 |
| Vaud (VD) | 10,164 | 9,554 | 323 |
| Lucerne (LU) | 8,647 | 8,526 | 275 |
| Ticino (TI) | 8,071 | 6,683 | 254 |
| Aargau (AG) | 7,528 | 7,437 | 264 |
| Bern (BE) | 7,264 | 6,719 | 247 |
| St. Gallen (SG) | 7,202 | 7,265 | 246 |
| Valais (VS) | 7,076 | 6,684 | 272 |
| Basel-Stadt (BS) | 9,708 | 7,059 | 328 |
| Basel-Landschaft (BL) | 7,785 | 7,310 | 290 |
| Fribourg (FR) | 6,417 | 6,830 | 230 |
| Neuchâtel (NE) | 5,854 | 6,212 | 220 |
| Jura (JU) | 4,481 | 3,834 | 200 |
| Schwyz (SZ) | 10,317 | 13,836 | 310 |
| Zug (ZG) | 12,995 | 12,786 | 441 |
| Thurgau (TG) | 5,872 | 7,255 | 240 |
| Solothurn (SO) | 5,412 | 5,793 | 230 |
| Uri (UR) | 15,817 | 8,920 | 260 |
| Appenzell Ausserrhoden (AR) | 6,241 | 6,482 | 220 |
| Appenzell Innerrhoden (AI) | 6,000 | 6,200 | 215 |
| Glarus (GL) | 5,500 | 4,140 | 210 |
| Schaffhausen (SH) | 6,000 | 6,766 | 220 |
| Obwalden (OW) | 7,000 | 7,500 | 225 |
| Nidwalden (NW) | 7,200 | 7,800 | 230 |
| Graubünden (GR) | 9,206 | 6,074 | 250 |
Note: The above figures are approximate averages and can vary based on specific locations within each canton.
📈 Market Trends and Insights
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Highest Property Prices: The cantons of Geneva, Zurich, and Zug consistently rank among the most expensive in Switzerland for both purchasing and renting properties.
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Affordable Options: Cantons like Jura, Glarus, and Appenzell Innerrhoden offer more affordable property prices, making them attractive for budget-conscious buyers.
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Rental Yields: Rental yields vary across cantons, with Valais offering some of the highest average yields at approximately 3.88%, while Geneva and Zurich have yields around 2.5% to 2.8%.
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Market Dynamics: Urban centers like Zurich and Geneva experience high demand and limited supply, leading to competitive markets and higher prices. In contrast, rural cantons may offer more availability and lower prices.