Why swiss real estate will remain in demand in 2026.

Diese exzellenten Werte resultieren aus einem perfekten Zusammenspiel: Einerseits verzeichneten Wohnimmobilien eine substanzielle Aufwertung von +3,9 %. Andererseits stiegen die Median-Mieten aufgrund der anhaltend hohen Nettozuwanderung (70’000 Personen gemäss provisorischen Daten) um deutliche +3,7 %.

For property owners, this represents a significant increase in wealth, coupled with stable net cash flow yields of 2.9%. The low vacancy rate of just 2.2% highlights the undersupply in the market and guarantees long-term income security.

Renaissance der Geschäftsliegenschaften: Ende der Korrekturphase

For a long time, the market for office and commercial property was considered a problem child. However, the data for 2025 signals the definitive end of the correction phase. With a performance of 4.8% and a marked increase in median rents of +7.6%, confidence in commercial uses is making an impressive comeback.

The recovery is also evident in the falling rent default rates, which have dropped from 5.8% to 5.4%. This suggests that, despite global trade conflicts, companies are sticking with Switzerland as a location and that modern, central office space remains highly sought after. The moderate revaluation of +1.7% in this segment also offers interesting catch-up potential for strategic investors compared to the already highly valued residential property market.

The privilege of a low-interest-rate environment and protection against inflation

The monetary environment remains a decisive factor in Switzerland’s unique position. Whilst global markets are suffering from inflationary pressures, average inflation in Switzerland stood at just 0.2% in 2025. Even exogenous shocks such as rises in energy prices were cushioned by the strong Swiss franc, as this makes imported goods cheaper and thus supports domestic price stability.

As the SNB is leaving the key interest rate at 0% as of March 2026, the yield advantage of property over government bonds (the so-called ‘yield spread’) remains intact. This reduces the risk of valuation corrections and supports demand for income-generating properties as a safe alternative to fixed-income securities.

Conclusion: Strategic foresight for owners and buyers

Despite the impressive track record, the outlook for the remainder of 2026 calls for selectivity. Geopolitical tensions and high energy prices could dampen medium-term growth. IAZI also points out that it remains to be seen whether “the fragile environment will continue to drive demand for income-generating properties as a perceived safe investment in the current year, or whether economic risks will prevail”.

Nevertheless, we note:

• For owners: Your property has fully fulfilled its role as a “safe haven”. The current recovery in the sector offers an ideal opportunity for portfolio optimisation or the sale of non-core properties at attractive valuations. Holding onto core properties remains the preferred strategy due to the interest rate advantage.
• For potential buyers: Entering the market today requires more capital and a more precise selection of properties due to higher prices. However, the risk-return profile remains unrivalled by international standards. Particularly in the residential segment, further appreciation in value is expected in the long term due to demographic trends and restrictive new-build activity.

In an era of uncertainty, Swiss property remains what it has always been: a discreet, powerful statement of stability and economic prudence.

We advise you on the brokerage and marketing of exclusive residential property. With offices in Küsnacht/Zurich, Zug, Lucerne, St. Moritz and Pfäffikon/SZ, we are firmly rooted in Switzerland and globally connected through our partnership with Christie’s International Real Estate.