How the state benefits from the property boom.

The current edition of the Raiffeisen study “Immobilien Schweiz – 4Q 2025” devotes its main chapter to the question of how the public sector in Switzerland benefits from the property boom. The foreword to the study states: “If the public sector needs additional revenue and therefore increases taxes, there is always a risk that taxpayers or companies will respond by moving away to avoid the higher burden. This problem does not arise with real estate. It is inextricably linked to its location and cannot be avoided. From a tax perspective, real estate is therefore a particularly rewarding and reliable source of income.”

Real estate is subject to a variety of different taxes and levies

The study concludes that even after the abolition of the imputed rental value, the public sector will continue to collect substantial tax revenues from owners of domestic properties — in particular through property gains tax. This is unique in that private individuals are only subject to capital gains tax on real estate investments. As a rule, only capital gains are taxed in Switzerland, as assets are already subject to wealth tax.