Is right now a good time to buy a property in Switzerland? (2026)

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Laurence Rapp 🇬🇧

Sales representative at Skiing Property

Laurence is an authority on luxury ski properties in Switzerland, offering tailored expertise to buyers seeking exclusive investments. At Skiing Property, he provides access to premium chalets and apartments in the country’s best ski resorts.

Who is the author of this content?

INVESTROPA

A team specialized in real estate investing in European countries

We are a team of financial experts, legal professionals, developers, and local real estate specialists dedicated to helping people like you avoid mistakes when investing in real estate in a foreign place, particularly in Switzerland. If you’d like to learn more about us, you can check our presentation page.

Is it smart to buy now in Switzerland, or should I wait as of 2026?

Do real estate prices look too high in Switzerland as of 2026?

As of early 2026, Swiss property prices sit roughly 24% above their late-2019 level according to the official index, which is high but not at the extreme levels typically seen before a market correction.

One clear signal from the ground is that the national vacancy rate in Switzerland is just 1%, which tells you that there's almost no slack in the market and sellers don't need to cut prices to find buyers.

Another helpful indicator is that asking rents in Switzerland rose about 3.1% year-on-year in late 2025, showing that demand pressure is real and not just a purchase-price phenomenon.

You can also read our latest update regarding the housing prices in Switzerland.

Does a property price drop look likely in Switzerland as of 2026?

As of early 2026, the likelihood of a meaningful property price drop in Switzerland over the next 12 months is low, because none of the typical crash triggers are currently in play.

Looking at realistic scenarios, we would consider a range of flat prices to modest gains of around 2% to 4% as most plausible for Switzerland in 2026, with a meaningful drop only likely under a severe external shock.

The single most important factor that would increase the odds of a price drop in Switzerland would be a sharp spike in interest rates, which would squeeze affordability and slow demand.

However, rate hikes look unlikely in the near term, as the Swiss National Bank has set its policy rate at 0% and signaled a cautious stance, making a sudden financing crunch improbable.

Finally, please note that we cover the price trends for next year in our pack about the property market in Switzerland.

Could property prices jump again in Switzerland as of 2026?

As of early 2026, the likelihood of a renewed price surge in Switzerland is medium, because tight supply and low rates provide the fuel, but affordability constraints limit how far prices can run.

In an upside scenario, we could see Swiss property prices rise by 4% to 6% over the next 12 months, especially in supply-constrained cities like Zurich, Geneva, and Zug.

The single biggest demand-side trigger that could drive prices to jump again in Switzerland would be a further drop in mortgage rates, which would expand the pool of qualified buyers almost immediately.

Please also note that we regularly publish and update real estate price forecasts for Switzerland here.

Are we in a buyer or a seller market in Switzerland as of 2026?

As of early 2026, Switzerland is still closer to a seller's market nationally, because there simply aren't enough homes available to give buyers meaningful leverage.

While Switzerland doesn't publish a standard "months of supply" figure, the 1% vacancy rate acts as the closest proxy, and anything below 2% typically signals that sellers hold most of the bargaining power.

Price reductions on Swiss listings remain relatively rare in high-demand areas, which suggests that sellers don't feel much pressure to negotiate and can often wait for their asking price.

We have made this infographic to give you a quick and clear snapshot of the property market in Switzerland. It highlights key facts like rental prices, yields, and property costs both in city centers and outside, so you can easily compare opportunities. We’ve done some research and also included useful insights about the country’s economy, like GDP, population, and interest rates, to help you understand the bigger picture.

Are homes overpriced, or fairly priced in Switzerland as of 2026?

Are homes overpriced versus rents or versus incomes in Switzerland as of 2026?

As of early 2026, Swiss homes look moderately overpriced when you compare purchase costs to both rents and incomes, with prices having risen faster than either measure in recent years.

The price-to-rent ratio in Switzerland is elevated compared to historical norms, meaning that buying costs more relative to renting than it did a decade ago, which can signal overvaluation.

Similarly, the price-to-income multiple in Switzerland is stretched, as home prices have climbed while household incomes have grown more slowly, making affordability a real constraint for many buyers.

Finally please note that you will have all the indicators you need in our property pack covering the real estate market in Switzerland.

Are home prices above the long-term average in Switzerland as of 2026?

As of early 2026, Swiss home prices are clearly above their long-term average, sitting roughly 24% higher than the late-2019 baseline according to the official IMPI index.

Over the past 12 months, Swiss property prices rose around 2.6% according to IAZI, which is moderate but still faster than the pre-pandemic average annual pace of closer to 2%.

In inflation-adjusted terms, Swiss real estate is at its strongest level in more than three years, with UBS estimating real price growth of about 3.5% year-on-year in Q3 2025.

What local changes could move prices in Switzerland as of 2026?

Are big infrastructure projects coming to Switzerland as of 2026?

As of early 2026, there is no single mega-project that will transform Swiss property prices nationally, but continuous rail and transit upgrades in major cities keep reinforcing already-strong neighborhoods.

The impact of infrastructure in Switzerland tends to be hyper-local, benefiting areas minutes closer to major train stations or new transit nodes, with effects visible over years rather than months.

For the latest updates on the local projects, you can read our property market analysis about Switzerland here.

Are zoning or building rules changing in Switzerland as of 2026?

There is no single major zoning overhaul being discussed nationally in Switzerland right now, as most planning decisions happen at the cantonal and municipal level, often moving slowly.

As of early 2026, the practical effect of Swiss zoning and permitting rules is visible in the outcome: a 1% vacancy rate nationally, showing that supply cannot respond quickly to demand in most places.

If Switzerland were to loosen building restrictions meaningfully, the most affected areas would be the urban fringes of Zurich, Geneva, and Basel, where land exists but permitting friction currently limits new construction.

Are foreign-buyer or mortgage rules changing in Switzerland as of 2026?

As of early 2026, Swiss foreign-buyer rules under Lex Koller remain strict, and there's an ongoing policy review that could tighten restrictions further, which would mostly affect certain investment structures rather than typical owner-occupiers.

The most likely foreign-buyer rule change being considered in Switzerland is a tightening of exceptions that currently allow some non-residents to purchase property, which could reduce speculative demand at the margin.

On the mortgage side, FINMA has pushed banks to follow stricter affordability and amortization standards under Basel III Final rules, which could make it slightly harder for stretched buyers to qualify for loans in Switzerland.

You can also read our latest update about mortgage and interest rates in Switzerland.

We did some research and made this infographic to help you quickly compare rental yields of the major cities in Switzerland versus those in neighboring countries. It provides a clear view of how this country positions itself as a real estate investment destination, which might interest you if you’re planning to invest there.

Will it be easy to find tenants in Switzerland as of 2026?

Is the renter pool growing faster than new supply in Switzerland as of 2026?

As of early 2026, renter demand in Switzerland is still outpacing new rental supply, as net immigration remains positive and the vacancy rate has fallen for five consecutive years.

The clearest demand signal is that Switzerland recorded net immigration of about 83,000 people in 2024, which continues to add pressure to an already tight housing market.

On the supply side, new completions have not been enough to relieve pressure, as evidenced by the national vacancy rate dropping to just 1% in mid-2025.

Are days-on-market for rentals falling in Switzerland as of 2026?

As of early 2026, we estimate that time-to-let for rentals in Switzerland's strongest markets is typically measured in weeks rather than months, reflecting the tight supply conditions.

In prime areas like central Zurich, Geneva, or Zug, well-priced rentals often find tenants within two to three weeks, while peripheral or less desirable locations can take two to three times longer.

The main reason days-on-market stays low in Switzerland is the chronic undersupply of rental units, with vacancy at just 1% nationally and even lower in major employment centers.

Are vacancies dropping in the best areas of Switzerland as of 2026?

As of early 2026, vacancy rates in Switzerland's best rental areas like Zurich's Seefeld, Geneva's Eaux-Vives, and Basel's Gundeldingen are even tighter than the 1% national average, often running below 0.5%.

These prime neighborhoods consistently show vacancy rates at least half the national level, meaning landlords there face almost no competition from empty units nearby.

One practical sign that the best areas are tightening first in Switzerland is that landlords in core Zurich or Geneva can now raise asking rents with each new lease and still fill units quickly, while peripheral landlords must be more competitive.

By the way, we've written a blog article detailing what are the current rent levels in Switzerland.

Am I buying into a tightening market in Switzerland as of 2026?

Is for-sale inventory shrinking in Switzerland as of 2026?

As of early 2026, we don't have a single official "active listings" count for Switzerland, but the extremely low 1% vacancy rate and record-low mobility strongly suggest that for-sale inventory is structurally tight.

Using vacancy as a proxy for months-of-supply, Switzerland's market is far below the 4 to 6 months typically considered balanced, meaning buyers have limited options and little room to negotiate.

The most likely reason inventory stays so tight in Switzerland is low mobility, as only 9.3% of the population moved in 2024, which is a record low and means fewer resale homes come to market.

Are homes selling faster in Switzerland as of 2026?

As of early 2026, well-priced homes in Switzerland's high-demand markets typically sell within a few weeks to a couple of months, and there's no sign of selling times lengthening broadly.

Year-over-year, selling speed in Switzerland appears stable to slightly faster in core urban areas, as rising prices and tight supply continue to favor sellers who price realistically.

Are new listings slowing down in Switzerland as of 2026?

As of early 2026, new for-sale listings in Switzerland appear to be running below normal levels, consistent with the record-low 9.3% mover rate recorded in 2024.

Swiss listings typically peak in spring and early autumn, but even during these seasonal windows, the current level seems unusually low compared to pre-pandemic norms.

The most plausible reason new listings are slowing in Switzerland is low mobility combined with favorable financing conditions, meaning existing owners have little incentive to sell and move.

Is new construction failing to keep up in Switzerland as of 2026?

As of early 2026, new housing completions in Switzerland are clearly not keeping pace with household demand, as the national vacancy rate has fallen for five straight years to just 1%.

Building permits and completions in Switzerland have been constrained, with industry sources noting that the pipeline remains insufficient to meaningfully ease supply pressure in the near term.

The single biggest bottleneck limiting new construction in Switzerland is the slow permitting process combined with local opposition to densification, which keeps supply from responding to demand in most desirable areas.

We made this infographic to show you how property prices in Switzerland compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.

Will it be easy to sell later in Switzerland as of 2026?

Is resale liquidity strong enough in Switzerland as of 2026?

As of early 2026, resale liquidity in Switzerland is strong in major employment hubs like Zurich, Geneva, Basel, and Lausanne, where well-priced homes typically find buyers within weeks to a couple of months.

In these core markets, median days-on-market for realistically priced resale homes tends to run well under three months, which is considered healthy liquidity by international standards.

The property characteristics that most improve resale liquidity in Switzerland are location near strong public transit, good energy efficiency ratings, and practical floor plans, as these features attract the widest pool of buyers.

Is selling time getting longer in Switzerland as of 2026?

As of early 2026, selling times in Switzerland appear stable overall, with no broad evidence that homes are taking meaningfully longer to sell compared to last year.

Most realistically priced homes in Switzerland sell within one to three months, with the range stretching longer mainly for overpriced properties, those needing major renovation, or in less desirable locations.

One clear reason selling time can lengthen in Switzerland is affordability pressure, as buyers increasingly struggle to qualify for loans on higher-priced properties, which can reduce the pool of ready buyers.

Is it realistic to exit with profit in Switzerland as of 2026?

As of early 2026, the likelihood of selling a Swiss property with a profit is medium-to-high if you hold for five years or more and buy in a location with strong fundamentals.

The estimated minimum holding period in Switzerland that most often makes exiting with profit realistic is around five to seven years, as this gives you time to absorb transaction costs and benefit from gradual appreciation.

Total round-trip costs in Switzerland typically run between 4% and 6% of the property value (around CHF 40,000 to 60,000 on a CHF 1 million home, or roughly USD 45,000 to 68,000 and EUR 42,000 to 63,000), covering notary fees, transfer taxes, and agent commissions.

The clearest factor that increases profit odds in Switzerland is buying in a supply-constrained, transit-connected neighborhood in cities like Zurich, Geneva, or Basel, where demand consistently outpaces new construction.

What sources have we used to write this blog article?

Whether it's in our blog articles or the market analyses included in our property pack about Switzerland, we always rely on the strongest methodology we can, and we don't throw out numbers at random.

We also aim to be fully transparent, so below we've listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.

Source	Why It's Authoritative	How We Used It
Swiss Federal Statistical Office (FSO) IMPI	Official Swiss government property price index with documented methodology.	We used it as the baseline for national price growth. We also used its segment splits to avoid cherry-picking one property type.
FSO Empty Dwellings Census	Official vacancy count covering the entire country.	We used it to judge how tight the housing market is. We treated vacancy as a proxy for buyer versus seller power.
FSO Home Moves Report	Official data on how many Swiss residents moved in a given year.	We used it to estimate resale listing flow. We interpreted low mobility as a reason inventory stays tight.
Swiss National Bank Monetary Policy	Central bank's official rate decisions and forward guidance.	We used it to anchor financing assumptions. We framed rate scenarios for price forecasts.
SNB Mortgage Rate Data	Bank-reported rate data for new Swiss mortgage loans.	We used it to ground mortgage rate discussions in real market pricing. We avoided relying on broker headline rates.
IAZI Price Indices	Long-running Swiss transaction-based index with clear methodology.	We used it to cross-check official FSO data. We compared quarterly and yearly growth from two independent sources.
UBS Swiss Real Estate Bubble Index	Widely cited risk framework from a major Swiss bank.	We used it to evaluate bubble risk and price-to-income stress. We referenced its real price growth estimates as a reality check.
UBS Real Estate Focus 2025	Major bank research covering Swiss market supply and demand.	We used it to interpret construction constraints. We compared it against bubble index signals for consistency.
Homegate Rent Index	Quality-adjusted rent series built with Zürcher Kantonalbank.	We used it to measure rental demand pressure. We avoided single-city anecdotes by using a national index.
State Secretariat for Migration	Swiss government's official migration statistics.	We used it to anchor the demand side without guesswork. We framed whether housing pressure is easing or persisting.
FINMA Mortgage Guidance	Switzerland's financial regulator setting binding minimum standards.	We used it to assess whether credit conditions may tighten. We treated it as a forward-looking constraint on easy lending.
Federal Office of Justice Lex Koller	Official Swiss government explanation of foreign-buyer law.	We used it to ground our foreign-buyer rules section. We avoided relying on informal expat guides.
OECD Affordable Housing Database	Cross-country housing affordability indicators with consistent methodology.	We used it to define what overvaluation means in a comparable way. We anchored price-to-income discussions in this framework.
Wüest Partner Indices	Top Swiss real estate analytics firm with published index methods.	We used it to validate that robust indices exist beyond one provider. We referenced it for segment and area differentiation.

We created this infographic to give you a simple idea of how much it costs to buy property in different parts of Switzerland. As you can see, it breaks down price ranges and property types for popular cities in the country. We hope this makes it easier to explore your options and understand the market.