The real estate market in Switzerland
Current trends, data, and analyses on the Swiss property market
We use detailed market data, reports, analyses, and assessments to help you make informed decisions about the real estate market in Switzerland.
Welcome to Wüest Partner, the leading information source for the Swiss property market, and your expert in comprehensive market analyses and forecasts.
Below, you’ll find the latest trends, data, and analyses on the real estate market in Switzerland. Our constantly updated reports offer an in-depth look at the economic situation, the dynamics of the rental housing market, changes in the residential property sector, and developments in the commercial property sector. With Wüest Partner’s insights, you can stay up to date with:
- The economy and property market: Learn how real GDP growth, inflation, and the employment situation affect the real estate market in Switzerland.
- The rental housing market: Gain insights into price trends, the shortage of new construction, and expected rent increases.
- Homeownership: Discover the latest trends in condo and single-family home prices, including the outlook for 2024.
- Commercial space: Understand the current challenges and forecasts for office and retail space.
The latest Swiss real estate market data at a glance
Following sharp surges in 2023 and 2024 – triggered by the higher reference interest rate – the momentum of rental increases for existing tenancy agreements is now flattening off noticeably. In the first quarter of 2025, the annual increase here was still as high as 2.2%, whereas the quarter-on-quarter increase amounted to just 0.2%.
Price growth is also cooling for asking rents: in the second quarter of 2025, these recorded a year-on-year rise of 2.7%, compared to a quarter-on-quarter increase of just 0.1%.
Swiss residential property prices rose further in the second quarter of 2025. Single-family houses recorded a quarter-on-quarter price rise of 1.5% and were therefore as much as 5.4% up on the prior-year level.
Privately owned apartments likewise experienced a rise, albeit more modest: +1.2% compared to the prior quarter, or +4.4% year-on-year.
Retail property rents are increasingly experiencing diverging development depending on the region and location. In almost all of Switzerland’s major cities – Bern being the sole exception – peak rents in premium locations have risen sharply recently, particularly in Lausanne and Zurich.
Office rents rose by 2.7% across Switzerland as a whole in the second quarter of 2025.
The basis for well-founded real estate decisions in Switzerland
Our reports, analyses, and assessments provide valuable information for every target group, from investors to private households. With our data, you can make informed decisions.
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Latest report on the real estate market in Switzerland
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Frequently asked questions
Various factors influence developments in the real estate market in Switzerland. Firstly, the current economic and social environment plays a role, including changes in gross domestic product, employment and unemployment rates, consumer prices, demographic shifts, and trends in household development.
Secondly, money and investment market developments are key, including interest rates and possible investment alternatives. Thirdly, new construction and renovation activities, as well as construction price trends, impact the supply of space. Lastly, the legal frameworks cannot be overlooked.
Due to the large discrepancy between supply and demand, asking rents rose by 6.3% in the first quarter of 2024 compared to the same quarter of the previous year. This is the strongest increase since continuous measurement began in 1996. This trend is likely to continue for advertised properties in 2024, with rents expected to rise by 4.1%. Existing rents are also expected to increase by an average of 1.9% in 2024. Analysts don’t expect an increase in the reference interest rate this year, with a possible decline not anticipated until 2025 at the earliest.
Given the shortage of rental apartments, it is not surprising that demand for condominiums and single-family homes is on the rise again. The number of search subscriptions has been increasing since mid-2023.
The recent growth in demand has also been spurred by the current interest rate policy. Following expected interest rate cuts and the Swiss National Bank lowering the key interest rate, mortgage rates have declined in recent months. This development has led to a noticeable reduction in the cost of debt financing.
The market for office and retail space in Switzerland continues to face challenges. While demand for office space in prime locations remains high, with slight rent increases expected, the outlook for retail is challenging due to the growing prevalence of online shopping. Consequently, rents for retail space are likely to fall in the coming year.
Wüest Partner provides up-to-date reports and detailed analyses of the Swiss property market. Our experts publish quarterly insights that offer a comprehensive overview of market trends, data, and developments. Access and download the latest publications on this page to learn more about the outlook of the real estate market in Switzerland.
The Swiss economy is currently showing little momentum. Real GDP growth is below the average of the past 10 years and is unlikely to change in 2024 (forecast: +1.1%). Weak foreign demand – partly due to the stagnation of the German economy – and the strength of the Swiss franc are putting pressure on the industrial sector.
Nevertheless, the labor market remains robust, and employment continues to grow, albeit at a slower pace. Job growth in the fourth quarter of 2023 was 1.7% compared to the same quarter of the previous year, and even 2% in the services sector. The vacancy rate is still around 2%.