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

Authored by the expert who managed and guided the team behind the Switzerland Property Pack

Yes, the analysis of Zurich's property market is included in our pack

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 Zurich. If you’d like to learn more about us, you can check our presentation page.

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

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

As of early 2026, Zurich property prices are stretched in terms of affordability, with UBS flagging rising risk in the city and describing the price-versus-income and price-versus-rent fundamentals as elevated.

One clear on-the-ground signal is that price cuts on listings remain rare in Zurich, because the 0.1% vacancy rate means sellers rarely need to discount to find buyers.

Another sign is that time-on-market for well-located Zurich properties stays short, with homes in neighborhoods like Seefeld, Enge, and Wiedikon often receiving multiple offers within weeks of listing.

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

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

As of early 2026, the likelihood of a meaningful property price decline in Zurich over the next 12 months is low, mainly because supply is extremely tight and financing conditions remain favorable.

A plausible range for Zurich property prices over the next year is flat to up 5% nominally, with UBS projecting around 3% growth and a sharp drop appearing unlikely given the vacancy floor.

The single most important macro factor that could trigger a price drop in Zurich would be a sudden spike in Swiss mortgage rates, which would squeeze affordability and reduce buyer demand.

However, this rate spike looks unlikely in the near term since the SNB held its policy rate at 0% in December 2025, and inflation in Switzerland remains contained.

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

Could property prices jump again in Zurich as of 2026?

As of early 2026, the likelihood of a renewed price surge in Zurich is medium, meaning prices will probably rise moderately rather than explosively.

The plausible upside for Zurich property prices over the next 12 months is around 3% to 5% nominally, with a bigger jump constrained by already-stretched affordability.

The single biggest demand-side trigger that could push Zurich prices higher would be continued ultra-low interest rates combined with strong in-migration, which would keep buyer competition intense despite high prices.

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

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

As of early 2026, Zurich is firmly a seller-leaning market, especially for well-located condos and family homes near transit, because buyers far outnumber available properties.

Zurich's effective months-of-inventory is extremely low, with a 0.1% vacancy rate translating to roughly one to two months of supply, which is far below the four to six months typical of a balanced market and gives sellers strong bargaining power.

The share of Zurich listings with price reductions is minimal compared to other European cities, because in a market this tight, correctly-priced homes sell quickly and sellers rarely need to cut 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 Zurich as of 2026?

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

As of early 2026, Zurich homes look stretched versus both rents and incomes, though not wildly out of line once you account for Switzerland's low financing costs and regulated rent system.

The price-to-rent ratio in Zurich implies gross rental yields of around 2% to 3% in prime areas, which is below the 4% to 5% typical of a balanced market but sustainable given Swiss mortgage rates near 1.5% to 2%.

The price-to-income multiple in Zurich is high, with a typical condo costing roughly 10 to 12 times the median household income, compared to a more affordable benchmark of 5 to 7 times in many European cities.

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

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

As of early 2026, Zurich property prices sit meaningfully above their long-term average, with the UBS Bubble Index showing that recent real price growth has exceeded the historical trend for several years running.

Over the past 12 months, Zurich prices have grown by roughly 3% to 4% nominally, which is slightly above the pre-pandemic pace of 2% to 3% annually and continues a pattern of steady appreciation.

In inflation-adjusted terms, Zurich prices remain near their prior cycle peak, meaning buyers today are paying close to the highest real prices the market has ever seen.

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

Are big infrastructure projects coming to Zurich as of 2026?

As of early 2026, several major transport projects are advancing in and around Zurich, with the Brüttener Tunnel (Zurich to Winterthur rail expansion) likely to boost property values along the commuter corridor once completed.

The Brüttener Tunnel received federal approval in October 2025 and construction could begin in 2026, with full completion expected in the early 2030s, giving buyers in connected suburbs like Winterthur and Dietikon time to benefit from rising demand.

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

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

The most important zoning trend in Zurich is "densification," meaning the city is slowly allowing more height and density in certain zones, though the process moves slowly due to objections and lengthy approvals.

As of early 2026, the net effect of these gradual zoning changes on Zurich prices is minimal in the short term, because new supply takes years to materialize and demand continues to outpace any construction pipeline.

The areas most affected by potential densification are parts of Kreis 4/5, Altstetten, and pockets around Oerlikon, where redevelopment projects could add supply in bursts over the next five to ten years.

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

As of early 2026, mortgage supervision in Zurich is tightening at the regulatory level, with FINMA increasing scrutiny of lending practices, which could modestly cool demand but also reduces the risk of a credit-fueled bubble.

No major new foreign-buyer restrictions are being actively debated for Zurich, as Switzerland already has the Lex Koller law limiting non-resident purchases of residential property.

The most likely mortgage rule change affecting Zurich buyers is stricter stress-testing by banks, meaning you should not assume lenders will approve the maximum amount shown in online calculators.

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 Zurich as of 2026?

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

As of early 2026, renter demand in Zurich is clearly outpacing new rental supply, as evidenced by the city's 0.1% vacancy rate and consistent reports that available units get snapped up quickly.

The clearest signal of strong renter demand in Zurich is continued net in-migration, with the city attracting professionals from across Switzerland and internationally due to its job market and quality of life.

On the supply side, new completions in Zurich remain modest because permitting is slow and construction costs are high, meaning the rental pipeline cannot keep up with household formation.

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

As of early 2026, days-on-market for rentals in Zurich is very short and likely still falling, because with only 235 empty flats in the entire city, correctly-priced units find tenants almost immediately.

In the best Zurich neighborhoods like Seefeld, Enge, and central Kreis 1, rental units often lease within days, while peripheral areas like outer Schwamendingen may take a few weeks longer.

The main reason days-on-market stays so low in Zurich is chronic under-supply, with the 0.1% vacancy rate creating intense competition among renters for any decent listing that comes to market.

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

As of early 2026, vacancies in Zurich's best rental areas like Seefeld, Enge, Wiedikon, and Oerlikon are already near zero and cannot drop much further, meaning landlords in these neighborhoods face almost no risk of empty units.

The current vacancy rate in these top Zurich districts is effectively at the floor, sitting at or below 0.1%, compared to the Switzerland-wide average of around 1.0%.

One practical sign that these best areas are tightening is that landlords can now be more selective about tenants, choosing from multiple applicants rather than accepting the first qualified renter.

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

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

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

As of early 2026, precise year-over-year inventory figures for Zurich are not published by official sources, but all indicators point to effective availability being very tight and likely tighter than a year ago.

We estimate that Zurich's months-of-supply sits at roughly one to two months, far below the four to six months typical of a balanced market, which is consistent with the city's 0.1% vacancy rate across the housing stock.

The most likely reason inventory remains so scarce in Zurich is that existing owners have little incentive to sell, given strong price expectations and the difficulty of finding a replacement home in the same tight market.

Are homes selling faster in Zurich as of 2026?

As of early 2026, well-priced homes in good Zurich neighborhoods are selling quickly, often within weeks, and the overall pace appears to have held steady or accelerated slightly compared to last year.

While official median days-on-market data for Zurich is limited, market reports and the ultra-low vacancy suggest that selling times have not lengthened and remain short for desirable properties in areas like Wiedikon, Seefeld, and Oerlikon.

Are new listings slowing down in Zurich as of 2026?

As of early 2026, we do not have official data on year-over-year new listing changes in Zurich, but the persistently low inventory suggests that new listings are not keeping pace with buyer demand.

Seasonally, Zurich sees more listings in spring and autumn, with winter months typically quieter, and current levels appear unusually low even accounting for the January slowdown.

The most plausible reason new listings are scarce in Zurich is that existing owners hesitate to sell because they would face the same tight market as buyers when searching for their next home.

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

As of early 2026, new housing construction in Zurich is clearly failing to keep up with demand, as shown by the city's rock-bottom 0.1% vacancy rate and UBS noting that slowing construction is a key reason prices remain supported.

The recent trend in Zurich building permits and completions has been flat to declining, with developers facing high costs, lengthy approval processes, and limited available land.

The single biggest bottleneck limiting new construction in Zurich is the combination of slow permitting, neighborhood objections, and strict zoning, which can add years to any development timeline.

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 Zurich as of 2026?

Is resale liquidity strong enough in Zurich as of 2026?

As of early 2026, resale liquidity in Zurich is strong for mainstream property types, meaning correctly-priced condos and family homes in connected neighborhoods typically find buyers within weeks.

While official median days-on-market figures are limited, the 0.1% vacancy and UBS's "market remains dynamic" framing suggest that resale times are well below the 90-day threshold often considered healthy liquidity.

The property characteristic that most improves resale liquidity in Zurich is location near public transit, with homes close to S-Bahn stations or tram lines in neighborhoods like Oerlikon, Wiedikon, and Altstetten consistently attracting the most buyer interest.

Is selling time getting longer in Zurich as of 2026?

As of early 2026, selling time in Zurich does not appear to be lengthening, and if anything, the persistent supply shortage keeps well-priced homes moving quickly compared to last year.

We estimate that the current median days-on-market in Zurich ranges from around 30 days for desirable properties in prime areas to 60 to 90 days for less attractive listings or overpriced units.

One reason selling time could lengthen in Zurich would be if a property is priced above market or has issues like poor layout, street noise, or lack of outdoor space, which buyers in this market can afford to avoid.

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

As of early 2026, the likelihood of selling with a profit in Zurich is medium to high if you hold for at least five to seven years, given the market's history of steady appreciation and structural supply constraints.

We estimate that the minimum holding period to reliably exit with profit in Zurich is around five years, which allows time for price growth to cover transaction costs and any short-term market fluctuations.

Total round-trip transaction costs in Zurich, including notary fees, property transfer tax, and agent commissions, typically run around 4% to 6% of the purchase price, or roughly CHF 40,000 to 60,000 (USD 45,000 to 68,000, EUR 42,000 to 63,000) on a CHF 1 million property.

The factor that most increases profit odds in Zurich is buying in a neighborhood with confirmed infrastructure improvements, such as Affoltern (new tram) or areas along the Brüttener Tunnel corridor, where future demand is likely to rise.

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 Zurich, 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 National Bank Data Portal	Switzerland's central bank publishing official housing price indices.	We used it to anchor national price momentum for apartments and houses. We then interpreted Zurich as a high-pressure submarket within this framework.
SNB Monetary Policy Decisions	Official source for Swiss policy rate decisions affecting mortgage pricing.	We used it to frame the interest rate backdrop as of the first half of 2026. We translated rate levels into affordability and downside risk implications.
Federal Statistical Office (IMPI)	Switzerland's official statistics office with transparent index methodology.	We used it as the official cross-check on price trends versus bank indices. We also used sub-indices for condos versus single-family houses.
City of Zurich Vacancy Data	The city's own official vacancy count with the clearest read on local tightness.	We used it to quantify Zurich's extreme scarcity at 0.1% vacancy. We also used the city's explanation of fast re-letting to assess market speed.
Canton of Zurich Vacancy Tables	The canton's official vacancy publication for city versus canton comparisons.	We used it to confirm the city's 0.1% vacancy figure independently. We used it to show supply is tight across the entire canton.
FINMA Mortgage Risk Guidance	Switzerland's financial regulator influencing mortgage underwriting standards.	We used it to frame credit risk and valuation concerns. We used it to explain why a 2008-style credit boom is unlikely in Switzerland.
UBS Swiss Real Estate Bubble Index	One of the most cited Swiss bubble-risk frameworks with explicit methodology.	We used it to assess overheating versus fundamentals and UBS's forward view. We used it as a structured risk dashboard rather than a single forecast.
Wüest Partner Market Reports	Top-tier Swiss real estate research firm widely used by institutions.	We used it for macro drivers like population growth and supply dynamics. We used it as a cross-check against bank and regulator narratives.
Federal Office for Housing (BWO)	Official government source for the rent reference rate used across Switzerland.	We used it to explain how rent growth can cool when the reference rate falls. We used it to evaluate buy-versus-rent dynamics.
OECD Housing Price Indicators	Standardized datasets comparable across countries for long-run context.	We used it to benchmark Switzerland's valuation pressure versus incomes and rents. We used it as a sanity check that Zurich looks stretched even within Switzerland.
BIS Residential Property Prices	Bank for International Settlements aggregating official series for cross-country comparison.	We used it to validate that Swiss price growth has been structurally persistent globally. We used it to avoid cherry-picking only one index family.
SBB Stadelhofen Expansion	National railway's official project page with scope, timing, and funding details.	We used it as a concrete local demand-support example. We used it to keep infrastructure claims evidence-based rather than speculative.
SRF Brüttener Tunnel Report	Switzerland's public broadcaster citing the Federal Office of Transport.	We used it to support the story of projects moving from plan to approval. We only cited it where it clearly references official approval.
ZVV Tram Affoltern Project	Zurich public transport authority providing primary-source project status.	We used it to ground neighborhood examples in real, named transport upgrades. We used it to connect infrastructure to micro-market demand.

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.