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 2026.
- Commercial space: Understand the current challenges and forecasts for office and retail space.
The latest Swiss real estate market data at a glance
Despite the ongoing tightness in the rental market, rent growth slowed significantly in 2025. Existing rents increased by only 0.4% between Q4 2024 and Q4 2025, following +2.4% a year earlier. In Q1 2026, they recorded a slight decline of 0.2% compared to the previous quarter. Asking rents also saw a marked slowdown. In Q1 2026, they were still 1.3% higher year-on-year, after annual growth rates of more than +6.0% in 2024.
Prices for residential property rose again significantly in 2025. In Q4 2025, prices for owner-occupied apartments were 4.5% higher and those for single-family homes 5.3% higher than in the same quarter of the previous year. Price dynamics thus remained above the 10-year average in both segments. At the beginning of 2026, price growth initially continued. In Q1, prices for owner-occupied apartments were 4.5% and those for single-family homes 4.3% above the previous year’s level. At the same time, initial signs of a slowdown are emerging, particularly for single-family homes, where quarterly growth was only 0.7%.
For 2026, we expect asking rents for office space to increase slightly across Switzerland, by around +0.5%. In the retail segment, the ongoing pressure from e‑commerce is likely to continue weighing on rents, which is why we anticipate a moderate decline of around −0.8%. However, in both segments, regional and quality differences remain significant.
The basis for well-founded real estate decisions in Switzerland
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Latest report on the real estate market in Switzerland
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Frequently asked questions
What influences the Swiss property market?
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.
How have rental prices in Switzerland developed in recent months?
Asking rents
The previously strong upward momentum in asking rents has clearly slowed. Following a cumulative increase of 15% between the end of 2021 and the end of 2024, rents rose by only 1.3% between the end of 2024 and the end of 2025. For 2026, we expect a moderate increase in asking rents at the national level, averaging 0.7%.
Existing rents
Following a 4.3% increase between the end of 2021 and the end of 2024 due to rises in the mortgage reference rate, the growth in existing rents leveled off significantly. In the fourth quarter of 2025, they were only 0.4% higher year-on-year; between the second and fourth quarters of 2025, they remained unchanged. For 2026, a decline of 0.8% is expected in the wake of the reference rate cuts that have already taken place.
What is the demand for residential property in Switzerland?
Demand for housing is expected to slow slightly in 2026 as both employment and population growth lose momentum. Amid geopolitical uncertainties, only moderate economic growth is expected; furthermore, efficiency gains resulting from the increased use of AI could slow the creation of new jobs and thus also dampen immigration, a key driver of housing demand in Switzerland. At the same time, financing conditions remain attractive thanks to low interest rates. Overall, therefore, despite the slowdown in demand, real estate prices are still expected to rise, albeit at a slower pace than in the previous year. Prices for condominiums are projected to increase by an average of around 2.8% in 2026, and those for single-family homes by about 3.1%.
What is the current situation in the commercial real estate market in Switzerland?
Employment in the office sector declined by 0.4% in the fourth quarter of 2025 compared to the previous year. Only moderate employment growth is expected in the coming quarters, dampened in part by economic uncertainties and efficiency gains resulting from the increased use of artificial intelligence. For the current year, we therefore expect a moderate decline in office rents of 0.6% on average.
Online retail remains the central challenge for brick-and-mortar retail. Although domestic e‑commerce is growing more slowly than international e‑commerce, it continues to expand more dynamically than the brick-and-mortar market. Against this backdrop, we anticipate a 1.5% decline in asking rents for the current year.
Where can I find current reports and analyses on the real estate market in Switzerland?
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.
How is the Swiss economy developing?
The Swiss economy continues to be influenced by geopolitical tensions, particularly in the Middle East, a strong Swiss franc, and, most recently, rising energy prices. Consequently, the economic environment is characterised by a high degree of uncertainty, and the future course of the economy depends largely on geopolitical developments — such as how the situation around the Strait of Hormuz unfolds and how stable the energy supply in the Gulf states remains. The domestic economy, however, is showing signs of resilience and has repeatedly demonstrated this in the past. For 2026, our baseline scenario assumes moderate, below-average growth of 1.1%. While this forecast does not signal dynamic growth, it does point to an overall robust development of economic output.