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UBS

June 15, 2026

Swiss Real Estate Market

Market ReportReal EstateRates Govt BondsReal Estate

The Swiss real estate market outlook has improved following the rejection of restrictive political initiatives and reduced macro risks. UBS analysts have raised their price growth forecast for multifamily homes to 4% for the year.

Key Takeaways

  • 1.Improved political and economic conditions are driving a higher price appreciation forecast for multifamily homes.
  • 2.Listed real estate funds are showing improved outlooks following the rejection of restrictive political proposals.
  • 3.Regulatory risks remain, with new initiatives like the 'rent price initiative' targeting the multifamily housing segment.

Table of Contents

  • Two hurdles cleared, more ahead
  • Improved conditions lift price outlook for multifamily homes
  • Positive momentum for listed real estate funds
  • Neutral allocation remains appropriate
  • Breathing room allowed, but regulatory pressure persists

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Authors

Matthias HolzheyThomas RiederMaciej Skoczek

Securities

Swiss Listed Real Estate Funds

Themes

Political RiskReal Estate RegulationMultifamily Housing

Regions

EuropeSwitzerland